Freeholder Building Insurance
Freeholder Building Insurance is specialist cover designed for individuals, companies and organisations that own the freehold of residential buildings, blocks of flats and multi-unit properties.
As a freeholder, you may be responsible for arranging buildings insurance, maintaining communal areas and fulfilling obligations set out in lease agreements. The right insurance can help protect your property, liabilities and financial interests against a range of insured risks.
Whether you own a converted property, purpose-built block of flats, mixed-use development or residential portfolio, specialist cover can be tailored to the individual requirements of your property.
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INTRODUCTION
What is Freeholder Building Insurance?
Freeholder Building Insurance is a specialist insurance policy for individuals, companies and organisations that own the freehold interest in residential properties or blocks of flats.
Freeholders are often responsible for maintaining and insuring the building, communal areas and shared facilities. Appropriate insurance can help protect the property and the freeholder’s financial interests against a variety of insured risks.
Whether you own a converted house, purpose-built apartment block, mixed-use property or a wider residential portfolio, freeholder insurance can be arranged to reflect the specific characteristics and requirements of the property.
COVERAGE
What Does Freeholder Building Insurance Cover?
Depending on the property, insurer and policy selected, additional protection may include employers’ liability, terrorism cover, engineering inspection cover, Directors’ and Officers’ insurance and protection for communal facilities such as lifts, car parks and shared gardens.
A comprehensive policy may include:
The available protection can be tailored according to the property’s construction, occupancy, use and lease arrangements.
Who Needs This
Who Needs Freeholder Insurance?
Why Do Freeholders Need Specialist Insurance?
Owning the freehold of a residential building can involve significant legal, financial and maintenance responsibilities.
Where multiple leaseholders occupy a property, the freeholder may be responsible for arranging suitable buildings insurance and maintaining shared areas and facilities.
Standard property insurance may not always adequately reflect the risks associated with multi-unit residential buildings, communal spaces and freeholder responsibilities.
Specialist freeholder insurance can help ensure that:
- The building is insured for an appropriate rebuilding value
- Communal and shared areas are protected
- Property owners’ liability risks are addressed
- Relevant lease insurance requirements can be accommodated
- Lender requirements can be considered where applicable
Having suitable insurance in place can provide greater confidence that the property and the freeholder’s financial interests are properly protected.
Property Owners’ Liability Cover
Property owners’ liability is an important component of freeholder insurance.
If a third party suffers injury or property damage connected with the building or communal areas, the freeholder may face a claim.
Property owners’ liability cover can provide protection against eligible claims arising from incidents such as:
For many freeholders, liability protection forms an essential part of a comprehensive insurance programme.
COVERAGE
Additional Covers Available
HOW WE ARE DIFFERENT
Why Choose WS Insurance?
We specialise in insurance solutions for residential property owners and understand the responsibilities and challenges faced by freeholders.
Our team works with specialist UK insurers to help arrange suitable protection for standard, complex and non-standard freehold properties.
Frequently Asked Questions
Freeholder Building Insurance is designed to protect the structure of a residential property or block of flats owned by a freeholder. It can cover the building, communal areas, property owners’ liability and other risks depending on the policy selected.
It is suitable for individual freeholders, freehold companies, property investors, landlords and other property owners responsible for residential buildings or blocks of flats.
Cover can include buildings insurance, property owners’ liability, communal areas, loss of rent, alternative accommodation, fire, flood, storm, escape of water and subsidence. Additional protection may also be available depending on the property.
Yes. Specialist insurers can provide cover for converted houses, converted blocks of flats, listed buildings, mixed-use properties and other non-standard residential buildings, subject to the insurer’s acceptance criteria.
Yes. Loss of rent cover may be available where an insured event makes the property or part of it uninhabitable. This can help protect rental income while repairs are carried out.
Property owners’ liability is commonly included or available as part of a freeholder insurance policy. It can help protect against claims for injury or property damage connected with the insured building or communal areas.
Yes. Freeholders and property investors with multiple residential buildings may be able to arrange cover for several properties under a portfolio or combined insurance arrangement, depending on the insurer.
Yes. Freeholders and property investors with multiple residential buildings may be able to arrange cover for several properties under a portfolio or combined insurance arrangement, depending on the insurer.
Yes. Buildings insurance can generally include communal areas such as hallways, staircases, entrances and other shared facilities forming part of the insured property.
Depending on the policy, additional cover or engineering inspection arrangements may be available for lifts and other shared facilities. The exact protection will depend on the property and insurer.
The buildings sum insured should reflect the estimated cost of completely rebuilding the property following a total loss, including relevant professional fees and other associated costs. A suitable professional valuation can help establish an appropriate figure.
Get Your Freeholder Building Insurance Quote
Whether you own a single block of flats, a converted residential property or a larger portfolio of freehold buildings, WS Insurance can help arrange tailored Freeholder Building Insurance.
Our team works with specialist insurers to provide competitive quotations and comprehensive cover designed around the individual requirements of your property.
Contact us today to discuss your requirements and receive a competitive Freeholder Building Insurance quotation.