Block insurance - apartments

[River]

hi,

recently bought an apartment and was told by management company that i did not need building insurance as management fees include provision for block insurance which covers my unit.

I presume then i only need contents insurance.

I will try out a few websites for quotes but what i want to ask is if there is anything to look out for with for with these block policies.

For instance would it be wise to opt for accidental damage cover?

 

[Humpback]

recently bought an apartment and was told by management company that i did not need building insurance as management fees include provision for block insurance which covers my unit.

True. Get your solicitor to get copy of the block insurance to ensure that it's actually there and that the cover is sufficient.

I presume then i only need contents insurance.

For instance would it be wise to opt for accidental damage cover?.

I'm in the same situation, and that was what I got. I used FBD who had the cover that I wanted at the best price.

As for accidental damage, I presume you mean for your contents. Whether or not to opt for is depends on how prone you, or those using your apartment, are to accidentally damaging your own possessions.

I will try out a few websites for quotes but what i want to ask is if there is anything to look out for with for with these block policies.

As per above, review this with your solicitor. As far as I remember there was block insurance policy and a fire policy as well. Given that it's an apartment, it's quite likely that you don't actually own the structure yourself (you're buying the use of the inside of the apartment), so therefore the owners of the structure need to provide the cover for it.

 

[River]

Thanks Ronan