block insurance for flats

1. Top Reasons for You to Choose Insurance for Blocks of Flats blocks-of-flats-insurance.blogspot.com/2019/10/top-reasons-for-you-to-choose-insurance.html Open water supply in an unoccupied flat can cause serious water clogging problems if the water leaks within. You won't be aware of the internal damages until it explodes and becomes a critical problem. Sometimes it may not be possible to avoid such situations, especially if your tenant is adamant and refuses to follow the basic regulations. Standard Coverage – Check the Options The standard coverage of each policy will be mentioned on the schedule page. You have to read it and understand completely. I had committed the blunder of not reading the conditions while taking up my previous block of flats insurance. When my building suffered a fire accident due to an electric short circuit, the company refused my claim. It was something unexpected for me. I was very careful when I chose my next blocks of flats insurance. I made it a point to contact the helpline of the insurance company before taking up the policy. Then I was able to save not only on the premium but also could get ample coverage for all sorts of damages. Optional Coverage – Add Value to Your Insurance It is a good practice to consider all the additional options available in the insurance for blocks of flats. For example, you can consider the Intentional damages by your tenants. Many of the insurance companies may not cover it, but you can always find one such agency in your neighbourhood. Once you do that, it is possible to ensure the protection of your building in all the aspects. Rebuilding Costs – Complete Coverage is Essential The first building of flats I owned came from my forefathers. It was constructed in the year 1920. It remained strong until the year 2018. Then there was a wall collapse in the backyard which damaged my parked car. 1/2

2. I applied for the car insurance as well as the insurance for blocks of flats. I got the second claim cleared faster than my insurance claim. I was surprised at how fast my flat insurance company worked. My friend later told me about the simple regulations they have. There have been many such circumstances in which the flat insurance company gave me complete coverage for the damages claims. I have not seen many such companies in other cities or countries. So, I should be grateful for the company from which I took the flat block insurance. Flooding Insurance – Study the Risks before Insuring If your flat block is located near the waterlogged areas, it is very essential to analyze the risks of not taking the insurance. Even when you take up insurance for blocks of flats, it is vital to study the inclusions and exclusions. The insurance company I chose gave me all the details related to the coverage and exclusions. When I opted for an additional premium, they gave me some of the options as inclusions and deleted them from the exclusions. Conclusion I was lucky to find insurance for blocks of flats in my city. I suggest you do some research before taking up the right flat block insurance company. 2/2