Darren Bagnall of Flat Living Insurance discusses the risk of flooding for blocks of flats. The risks of floods may not spring to mind when you think about the issues you may face when managing or living in a block of flats, but it’s as much of a risk to high rise blocks as it …
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The Duty to Make a Fair Presentation
Darren Bagnall, of Flat Living Insurance, details your responsibility to make a fair presentation when you arrange your flats insurance.
Flat Living: Making the Most of Outside Space
Darren Bagnall of Flat Living Insurance helps you make the most of any available outside space at your block of flats. While flat dwellers may not have access to swathes of land, many can take advantage of balconies, potted plants and rooftop gardens. With greenery being linked to our overall health and wellbeing, property managers …
An At-a-Glance Guide to Service Charges
Darren Bagnall, of Flat Living Insurance, provides an at-a-glance guide to service charges. For those who haven’t owned a leasehold property or come across the term; service charges are payable by leaseholders on an annual basis to cover the landlord’s incurred costs for providing services and maintaining the common areas of the building. When signing …
Why have insurance premiums increased?
A tougher attitude to risk and pricing across the insurance market has developed which now sees the flats insurance sector entering what is known as a ‘Hard Market’ for property and commercial insurances. What do we mean by the term ‘Hard Market’? It simply means that demand exceeds supply. More claims and increased claims costs …
How would failure to maintain your block affect your flats insurance
Darren Bagnall of Residentsline advises. There is a covenant within a lease or TP1 stating that the freeholder, Property Managing Agent or Residents’ Management Company (RMC) will have to ensure the property is in a ‘good state of repair’. In addition to this, most insurance policies will not pay for any loss or damage that is caused by …
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Buying Your Freehold: The Pros and Cons
Darren Bagnall, Managing Director of Flat Living Insurance explains the pro’s and cons of buying your freehold. If you’re thinking about buying your freehold through Collective Enfranchisement, you may well be weighing up the pros and cons of such an undertaking. With everything from funding, general organisation and adhering to the statutory requirements of the …
What is a Leasehold Flat?
Darren Bagnall, Managing Director of Flat Living Insurance explains what a leasehold flat or apartment is. The majority of flats in the UK are bought and sold on a leasehold basis. Present property law in England and Wales requires that flats be leasehold, although some are sold with a share of the freehold. Legislation introduced …