Flat Insurance

Generally, flat insurance, or apartment insurance, offers the same level of cover as standard home insurance. However, there are a couple of extra things to consider when taking out a flat insurance policy so it’s important to be aware of the subtle differences.

Buildings insurance for flats

Buildings insurance for flats isn’t that different from buildings insurance for houses. It will cover your flat structure and all areas owned by you. Usually, shared areas such as hallways and stairwells are the responsibility of the building owner or the freeholder. Your insurer will ask you similar questions about the structure of your home and ask you to confirm that you have a separate lockable door.

Contents insurance for flats

Flat contents insurance works the same as contents insurance for houses. It covers all personal possessions that you can pick up and take away and excludes all fixtures, such as bathrooms and kitchen fittings and the structure of your home. It’s key to take stock of your contents and work out the value of all your items.

What to do if you own all or part of the buildings freehold

If you and others jointly own the freehold to a building containing flats, it’s advisable to get an insurance policy that can cover two or more properties within one building. In short, you should insure everything that is your legal responsibility. Even with a leasehold agreement, you’re likely to be responsible for you areas of the building such as bathrooms and kitchens, however, these will come under your buildings insurance.

Flat insurance

What to do if someone else owns your building freehold

If you own a flat within a building that’s owned by an individual or a company, they will usually take responsibility for all shared areas including the roof. However, in some instances, a contract may state that you’re responsible for a proportion of the repair costs to the roof if it’s damaged. This principle can also apply to shared drains which service multiple properties as there’s a shared system across multiple properties.

What to do if you flatshare

You might be wondering whether you need contents insurance for a shared flat. If you share a flat with friends, it’s up to each individual to have their own flat contents insurance. If you jointly own items such as furniture or a TV, rather than take out individual flat insurance, you can add your flatmate as a joint policyholder. This could be the best option for you if you’re living with your partner and share belongings.

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