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Property Managers and Agents

If you are responsible for arranging insurance for blocks of flats, rental apartments or commercial buildings for third party building owners, you could become liable if a problem arises with that insurance…

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Property managers and agents insurance can protect you against that liability.

Choosing the wrong cover for a property can have a knock-on effect for many parties, including individual residents or tenants, the freeholder, leaseholders, mortgage lenders, and the Residents’ Association or Residents’ Management Company.  Each party can potentially suffer a loss and raise a claim.

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…

The responsibilities and liabilities involved with arranging this type of cover can be onerous, and expert guidance is essential.

Adler Fairways has years of experience in arranging property insurance and property managers and agents insurance, so we are well aware of the risks involved.  We use this experience to work with managing agents, Residents’ Associations and property owners up and down the country to find the most suitable cover for their unique circumstances.

Main policy features *

  • Cover for loss or damage to property 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 owner 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.

Typical exclusions include:

  • Damage by wet or dry rot
  • Possible restrictions 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.

    *  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…