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Freeholder

Do you live in, or own a block of flats? If so, you may need freeholder insurance….

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Freeholder insurance is generally the correct option for a building that has been converted into flats or apartments.  This is usually large houses, but sometimes office blocks, warehouses and barns. It is also a must for anyone responsible for the maintenance and upkeep of a leased building and the property surrounding it.

New Rules on Multi-occupancy Buildings Insurance

Effective from 31st December 2023, the Financial Conduct Authority (FCA) has confirmed new measures to support leaseholders in the multi-occupancy buildings insurance market. Find out how this impacts you…

What do I need to do?

In some cases, the freehold of the property can be owned by one person who charges the owners of the flats ground rent or a service charge, or it can be distributed amongst the owners of each separate flat. Sometimes the owners hold equal shares of the freehold and other times they own different amounts, depending on various factors such as the size of each flat.

Freehold insurance can be tailored to your precise circumstances and requirements.

Main policy features *

  • Cover for loss or damage including fire, accidental damage, storm, flood, escape of water, subsidence and theft
  • Building sums insured index linked or day-one uplift of up to 50%
  • Property owners liability of up to £5m
  • Cover for malicious damage caused by tenants
  • Loss of rent cover
  • Alternative accommodation
  • Communal areas such as hallways, private roads and car parks are protected, and you can also receive employer’s liability cover for anyone hired to provide cleaning or maintenance of these areas.

Additional coverage can be included, such as liability protection for a residents’ association, lift inspection and maintenance cover, directors and officers insurance or terrorism insurance.

Freeholder insurance exclusions include:

  • Damage by wet or dry rot
  • Restricted cover when your property is unoccupied
  • Damage due to a fault or limit of design, manufacture or installation. In particular there is no cover for damage to underground services that do not work because they are worn out.
  • The cost of replacing any undamaged items, which form part of a set, suite or item of a uniform nature
  • Loss or damage to your buildings from any cause not listed in the policy booklet – but wider cover is available with the accidental damage option.

    *  This information is a general guide only.  Adler Fairways will assess your requirements and recommend a bespoke range of insurance solutions to meet your needs.  As part of the quotation process, we will provide full details of the specific coverage, benefits, limits, premiums, exclusions, excesses payable, and any other policy conditions that would apply to the insurance we recommend for you.  We currently only offer cover to businesses registered in England, Scotland, Wales, Northern Ireland, the Channel Islands and the Isle of Man.

    Words from our clients…

    Shannonside Civil Engineering Ltd

    "Over the last eight years we have continued to renew our cover through Adler Fairways, we consider them a partner of our wider business on the growth trajectory to being a 100 million pound business. Having guided us from a small start up to where we are today, their guidance and level of experience have been invaluable in ensuring we are covered in all aspects of our liabilities. This has allowed us to focus on growth and margins. Thank you Adler Fairways as we move forward together into the future." Shannonside Civil Engineering

    John Hall, Director, West Midlands Fasteners

    "Adler Fairways have taken care of our insurance needs for many years, during which time we have built a strong relationship. We have come to depend on their expertise and know we can always rely on them." West Midlands Fasteners

    Faisal Ravat, Managing Director, E&S Motors Ltd

    "We transferred our insurance to Adler Fairways Insurance Brokers in 2023, when they offered us a much more complete and competitive premium than our current brokers. The team took the time to understand our business and future needs; we have continued to receive excellent service from them, and have been impressed with their care, and attention to detail. What is key for our business is the advice that is given when needed, and the robust claims management internally which has helped manage our premiums for a traditionally difficult to insure niche sector of the motor trade." E&S Motors

    Frank Ryan, Director, Reirse Ryan Ltd

    "We have been with Adler Fairways for a number of years now and remain with them for the personal service we receive together with commercially competitive premiums and the knowledge that when a claim does arise, professional assistance is always to hand." Reirce Ryan

    Gerald Doble, Director, G A Doble

    "The Adler Fairways team has looked after our insurance portfolio for several years now and have provided excellent service throughout. Our annual renewal reviews are always conducted in good time ahead of renewal with all our questions answered and we are extremely impressed with the renewal proposals received. Prior to moving our business to Adler Fairways, we had not received a proper review for several years. The team were instrumental in making sure our insurance was arranged on the correct basis and have also been able to save us money on our premiums over the years. It is clear that they have our best interests at heart, both from an insurance cover and premium perspective. Whenever we have a query or need to make a change to our policies, it is dealt with efficiently and professionally. We can’t fault them on their reliability and excellent personal service".

    John Dyke, Central Scaffold Walsall Ltd

    "As a scaffold company operating within the construction industry, it is crucial for us to have a reliable and experienced insurance broker by our side. Adler Fairways has been a trusted partner to us for over 15 years and we couldn’t be more satisfied with their exceptional service. From the beginning, they demonstrated a deep understanding of the unique risks we face as a scaffold business and worked with us to ensure we’re always fully protected onsite. We have peace of mind in their ability to source comprehensive, industry-specific coverage at competitive rates which is a huge benefit to our operations. The fact that Adler Fairways is a Chartered insurance brokerage also demonstrates their ongoing commitment within their profession." Central Scaffold Walsall

    Ocean Outdoors

    "The Adler Fairways team has been an invaluable partner to our digital out-of-home (DOOH) advertising business, particularly during times when we needed their support, expertise and advice. Their exceptional responsiveness and commitment have truly set them apart. In our industry, where we manage a network of digital displays and complex advertising campaigns, the risk landscape is unique and often unpredictable. Whether it’s damage to equipment, public liability, motor or unforeseen technical issues, Adler Fairways has consistently provided us with bespoke insurance policies that give us confidence in our coverage. Whatever our needs are, Adler Fairways are always there to guide us every step of the way and the team handles everything with remarkable efficiency, providing clear communication and expert advice throughout the process. The personal touch and attention to detail they always provide makes sometimes stressful situations much easier to navigate." Outdoor Ocean