Landlord building insurance is a type of building insurance that covers any damages to a properties structure, including walls, roofs and foundations.
With landlords building insurance for flats being typically the most expensive budgetary item each year, isn’t it important to know what this covers and why?
This blog will give an overview of what is generally covered in your policy.
What does my building insurance policy cover?
We must state that every building is different and you should always check what is covered and not covered under the terms of your policy. There are however typical ‘risks’ that a landlords building insurance policy will cover. Typically, these risks are:
- Escape of Water (leaks)
- Vandalism or malicious damage
- Natural disasters (storms, earthquakes, floods)
- Damage from vehicles or falling trees
- Subsidence, ground heave or landslip
Almost as important when considering the risks covered are the risks that are NOT covered. These risks can cause confusion with questions such as ‘does building insurance cover damp’ only causing delays in resolving the matter. Typical risks not covered are:
- Leaseholders contents (yes, this includes carpets)
- Any gradual issue (i.e. a leak due to poor maintenance on the pipework or damp)
- Pollution damage
You should always check your policy details to see what is covered in each instance as every policy can vary.
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