Block of Flats Insurance

Block of flats insurance is designed for landlords who own and rent out entire blocks that can host residential or commercial tenants. Our insurance can cover risks associated with both the property and tenants. Multi-storey blocks can be accommodated, including those over ten storeys.

The price of insurance for blocks of flats can vary quite considerably, as do the size, shape and construction of the buildings we can cover. It’s therefore hard for us to give a representative average cost of insurance. What we can do is go to a panel of insurers to establish the best deal based on your individual needs. Call our team to get started.

You can make a claim for loss of rent if your block of flats is uninhabitable because of loss or damage or an accident covered by the policy. Cover available varies from insurers.

Standard malicious damage cover will not include deliberate damage caused by tenants. Ask us about adding accidental damage and malicious damage cover by tenants to your policy.

We take account of your annual rental income and the anticipated length of time taken to rebuild your property for reoccupation. Various factors impact this: a combination of type, location, construction of your property, any special features if it is of historical interest such as Grade 1 or 2 listed building in England, Wales or the equivalent in Scotland.

Yes, landlord portfolio insurance combines the insurance of all your properties on one policy. Having all of your properties insured together means one renewal date, one insurance provider and is administratively efficient, plus your policy will often be cheaper too.

We can provide a range of landlords insurance policies, including for residential, commercial, mixed-use and multiple premises.

Read our article to find out which is best for you.

This service will advise you on what you can claim for, helping you to assess the damage and obtain repair estimates. If you choose Towergate Assist, your loss adjustor will arrange a visit to the property. Alternatively, we can offer Virtual Assist, this is a similar phone-based service. These services apply to Property Damage claims greater than £5,000.

Your buildings sum insured should represent the current rebuilding value of the property following a total loss, including labour and material and the costs of debris removal, architects' and surveyors fees and other professional costs.

You can contact the Royal Institute of Chartered Surveyors (RICS) for independent professional advice. As the costs of labour and materials can change we recommend you have a professional rebuild valuation survey conducted regularly – at least every three years.

Yes. we are able to cover properties that become unoccupied for up to 30 days on a standard package for fire, lightning, explosion and aircraft. This period may be extended with full details and referral to insurers.
We can arrange cover for properties that are unoccupied for periods longer than 30 days with some of our specialist insurers.

The premiums are generally refunded on a pro-rata basis. Therefore, if you have paid in full for the year then you would be entitled to a return of premium (minus commission and fee). Likewise, if you are paying by direct debit there will either be an outstanding balance to pay or a return due back to you, depending on where your payments fall in the month. Most insurers are unlikely to allow a refund where a claim(s) have been made in the current year.

In the event of a severe fire loss (or other insured peril) your property would not be fit for occupation, and you may suffer a loss of rental income until the property has been fully repaired. The length of time it will take to repair your building will vary from customer to customer.

All buildings are different - and you must take into account the location, age, type and construction of the property. Specialist properties, grade 1 and 2, can take longer to build due to the building materials and specialist building skills required. It is best to be cautious and consider a minimum of 24 months or longer, as there is always the chance of unexpected and unforeseen difficulties causing delay.

If you need cover for subsidence, we can provide it. However, there is a 'but' – if your property has a history of subsidence we’ll require an inspection of the property to establish the risk of further damage before we provide cover.

All insurers are wary of properties with subsidence, even if it was 10 years ago, but usually we won’t have trouble finding you insurance as long as you can provide the correct paperwork to prove the initial cause has been dealt with and subsequent checks have been made. Speak to us on the phone, or via email, and we can discuss your options with you.

Yes, you can pay your block of flats insurance in instalments. To help you spread the cost of your premiums, we offer a quick and easy direct debit scheme for spreading payment over ten months. Please visit our dedicated Direct Debit page to find out more.

If you would like to know more about our monthly payment option, please visit our dedicated Direct Debit page.