Landlords Multiple Dwelling Insurance

Sometimes known as blocks of flats, Multiple Dwelling Units consist of several different types of building, but all have one commonality; they are buildings with more than one residential unit.

When insuring multiple dwellings, such as a block of apartments, it is often more cost effective to insure as a ‘whole’ rather than insuring individually. Many insurers will cover the buildings, though they may which for certain fundamentals to be carried out; some are Law and others are their own rules.

For example, new laws came into practice in 2006. The Regulatory Reform (Fire Safety) Order 2005 established an obligation for the owner to take fire precautions, carry out risk assessments to fire and to recommend preventive and protective measures. These were all to be in accordance with the principles of prevention set out in the Order. This Order covers premises comprising multiple dwellings (such as a block of apartments).

Insurance policies will require compliance with this law and non-compliance could invalidate the policy. It is important to understand what the individual insurance company’s requirements are, as any breach may leave the buildings uninsured.

As many blocks of flats have flat roofs, some insurers cover for this failing, though there are exclusions involved; many will ask that the roof is well maintained, regularly checked by an accredited body and when repaired/renewed is guaranteed.

If your property has a lift, there are policies that cover such items. Be aware though, there is statutory requirement to have it inspected at regular intervals.