Landlords and Residents Associations Insurances

If you own one or multiple rental properties, it is crucial to ensure that you have the appropriate insurance coverage in place to fit your unique needs and requirements. A typical Home Insurance policy typically does not provide adequate coverage for the specific risks associated with renting out a property. Landlord Insurance can help to provide cover for risks that may not be included in standard Building and Contents Insurance policies when leasing or letting a property.

This type of insurance, also referred to as Buy-to-Let Insurance, protects against damages to the building and its contents caused by various hazards, such as flood, fire, burst pipes, or storms. Although Landlord Insurance is not legally required, it is often a mandatory requirement set by mortgage lenders.

With our Landlords Insurance, the policy can insure a wide range of tenant types: anything from students to tenants in receipt of DSS payments, asylum seekers and multi-occupancy properties.

We can be flexible about the levels of cover offered, so you can choose the one best suited to you. For example, on unoccupied properties, you can choose between two cover levels, either full perils cover – giving peace of mind, or only FLEEA cover

The policy can be adapted to suit your needs, many of the below covers are optional, allowing you to tailor the policy to your specific needs:

Residents Associations are community organisations made up of individuals from a local area who collaborate to tackle concerns within their community and advocate for the interests of residents.

Typically, these associations have a committee consisting of a chair, vice-chair, secretary, treasurer, and committee members. Their responsibilities may involve overseeing the upkeep and insurance of the block of flats or development in which they reside.

Residents Association Insurance can offer a wide range of coverage to all those who set up a residents' association, management company or resident company limited by guarantee. It is important to understand that volunteers may also be held responsible should things break down in the association, so the right coverage is essential. Whether you are based in Eastbourne, or anywhere across the UK, here at Professional Insurance Agents, we aim to find you the right cover that meets your unique needs and requirements.

There are many different types of exposure that could leave you out of pocket if a situation were to arise and you did not hold the correct insurance cover.

A Residents Association Policy will cover for defence of these types of allegations and if a director or committee member was found to be neglectful of their duties, damages would be awarded. Please note that the policy will not respond to any fines, penalties and punitive or exemplary charges.

Even if you serve as a trustee or volunteer on a residents' association committee, it is crucial to be aware of the potential liability exposures resulting from the responsibilities you undertake. By obtaining a Residents Association Insurance policy, you can safeguard yourself against a wide range of allegations, including wrongful acts, libel and slander, errors and omissions, safety and emergency regulations, discrimination, and dishonesty of other directors.

This policy can also protect you from the financial consequences associated with these claims and it aims to mitigate the risks associated with your role on the committee. We can also cover Public Liability Insurance as a standalone addition to the Residents Association Policy. This can cover against third-party property damage and bodily injury for any shared areas such as roads and gardens as well as meetings and events.