Apartment Blocks, due to their nature, require a specialised policy to cater for their unique requirements. We can arrange a tailored policy designed specifically to meet the insurance needs of apartment block owners. Such a policy should include the following:
All Risks cover in respect of loss or damage to the apartment block(s) including perimeter walls, gates, fences and hedges, tennis courts, terraces, patios, drives and paths.
Provision should also be made for:
Cover in respect of the reasonable extra cost of alternative accommodation for any resident or the loss by any individual owner of rent receivable sustained as a result of an insured loss under the policy.
Cover to provide for casual property repairs or maintenance around the apartment complex.
To cover legal liability which you, as owner of the buildings or complex, incur as a result of an accident causing accidental bodily injury to a third party or accidental damage to third party property.
Extensions to cover should incorporate car park liability and indemnity to any management or owner’s representative group.