Hi there, I have an apartment in a purpose built block of flats which I'm letting out. The building insurance is included in the management fee that I have to pay annually. I let out the property furnished. Apart from contents insurance (the contents not worth that much really), what other types of insurance would I need? I suppose in flats my main worry is legal disputes with downstair neighbours (eg. bathroom leaking causing damage to apartment below), and rental problems. But since the flats are aimed at professionals, I hope rent arrears are not going to be a problem. Would just like to hear some advice so I get myself adequately covered. Thanks.
Yes. Public liability cover ought to be part of the block insurance. Consider Legal Expenses Insurance, possibly as an option added to your contents insurance, provided that it covers disputes between: a. you and the freehold reversioner; and b. you and your sub-T.
