Freeholder Insurance
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Freeholder Insurance
As an owner of a freehold property, ensuring that your property is fully insured and protected with a freeholder insurance policy is essential. Generally, when you own a freehold property, you may have additional risks to consider. If multiple flats are within the premises, having one freeholder building insurance policy makes sense by protecting your investment by ensuring all the apartments are on the same policy.
Our expert brokers have years of experience and industry knowledge in dealing with these more specialist Freehold insurance policies. Naturally, this knowledge and expertise enable us to deliver the best-brokered policy for our clients.
At Crosby Insurance Brokers, we work with clients with different-sized property portfolios, from single Freeholder properties to multiple properties. We can offer a freehold insurance policy that caters to any landlord or property investor. Whilst there is no limit to portfolio size, there is also no limit to the type of property we work to insure.
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What does Freeholder Insurance cover?
If you own a Freehold property, having the right insurance is essential if anything happens. Protecting your investment from loss or damage will ensure we protect you from losing money. Our experts can help you find the best policy for your needs.
Owning a freehold of a property comes with a varied level of risk. Therefore, it is appropriate that the property owner selects the right freeholder policy that will provide adequate compensation for any damages to the property. Our expert brokers can give a consultation on the ideal cover that will align with your needs.
Freeholder insurance solutions can be arranged for:
- Structural damage to the property caused by fire, floods, water, accidental damage and more
- Malicious damage inflicted by tenants
- Property owner liability
- Employer liability
- Loss of rent cover
- Outdoor and indoor communal areas, such as private car parks and hallways
- Alternative accommodation for tenants
- Many more
We understand that every customer is different, so if you have any other areas of cover within a freeholder insurance policy that you would like to discuss. Then please don’t hesitate to get in touch with us.
Each individual has different needs. We ensure that we understand those needs and create a freeholder insurance policy that suits you individually. Ensuring we can create bespoke packages means you deal with one broker and make one policy to manage.
Who is Freeholder Insurance suitable for?
Freeholder insurance protects your investment if you own a converted property, such as an office block turned into a Block of Flats or residential apartments. Or a large house changed into flats. This comprehensive coverage safeguards these specialised properties and provides peace of mind in case any unforeseen issues arise.
Leasehold property owners should know their landlord’s responsibility when selecting a freeholder policy. Freeholders can take advantage of available rights, such as implementing decisions regarding any issues concerning ownership and management of land or buildings associated with the freehold estate.
- Live within your property as a place of residence
- Use your property as a second home or as a holiday home
- Your property to let to tenants under a tenancy agreement
- Grant a lease to leasehold tenants
Remember, your freeholder building insurance policy must reflect whichever one applies to your situation.
As we have stressed throughout, you must select a freeholder insurance policy to ensure that you have cover against most damages or risks to your property. Although it is not a legal requirement, opting for this type of insurance cover can relieve you of the financial impact imposed upon you if you do not have the right insurance cover.
From acts of god, such as floods and fires, to damage caused by your tenants, the correct insurance solution will adapt to what you need as a landlord. We’re happy to assist however we can throughout and protect your investment as best as possible.
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What is commonly excluded from most freeholder policies?
Our brokers aim to provide our customers with the best freeholder insurance cover. However, these are the most common exclusions that are found within this type of cover:
- Damage caused by wet or dry rot
- Damages that has been caused by a building design fault
- The cost of replacing items that are not damaged
- If a property is unoccupied, the eligible cover amount may be restricted
- Damages caused to or loss of property that are not included in the insurance policy.
These are the most common exclusions, but it is essential to remember that each policy will differ. Every provider will have default exclusions, but with our extensive experience, we can direct you to the ideal solution incorporates the coverage you need.
Is property owner liability cover included in a freeholder insurance policy?
You will find that most freeholder insurance policies will contain a property liability cover within the policy. This type of cover is highly recommended for landlords. Generally, a property owner’s liability cover will range from £2m – £5m. £2m is the most popular option, but what our brokers recommend will vary based on your requirements.
As we realise that every customer is different, where appropriate, we can find you a policy with a higher sum to meet the customer’s requirements. Regarding a property with a block of flats, the claims could be higher than a house’s. This is usually because a block of apartments tends to have a higher rebuild value with more tenants coming and going.
Why choose Crosby Insurance for your freeholder cover?
At Crosby Insurance our talented brokers have 30 years of experience within commercial and residential property owners insurance brokering. Our brokers have been trained to the highest of standards which is reflective in our ability at securing the best freeholder building insurance policies for our customers.
Crosby Insurance ensures that our broker team come with a wealth of industry knowledge for different types of property and with this knowledge they will be able to find the best policy suited for you. We place a high value on customer service and offer a personalised approach for each of our clients, whilst always offering comparative quotes to ensure that they are getting the best price.
Protect your Freeholder building
Protect your investments and secure a bright future with the right freeholder insurance policy. Finding cover tailored to you is essential to safeguard yourself against financial loss. While Freeholder Insurance isn’t mandatory, opting for such protection can offer invaluable peace of mind. Get started on securing your properties today!
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We offer more than just a policy
See what we can do for you today
