Property - blocks of flats
Our property insurance for blocks of flats provides a wide cover on a flexible basis. There are options to include a number of extensions and additional benefits specifically designed for this type of business.
Please refer to the policy wording for full details of cover and applicable terms and conditions.
Cover
Standard package provides
| Standard package provides | Optima Property - Blocks of Flats | Premier Flats |
| Buildings and Contents |
All Risks including subsidence. Option for Fire & Perils cover is available |
All Risks including subsidence |
| Day One |
15% uplift and indexed linked |
15% uplift and indexed linked |
| Contents for common parts |
5% of building sum insured up to £10,000 limit |
5% of building sum insured up to £10,000 limit |
| Contents temporarily removed |
£2,500 limit |
£2,500 limit |
| Fences and gates |
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£500 limit for storm and flood damage |
| Replacement locks |
£500 limit |
£500 limit |
| Damage to underground services |
£10,000 limit |
£10,000 limit |
| Refilling fire extinguishing equipment and alarm resetting |
£10,000 limit |
£10,000 limit |
| Loss of metered water and gas |
£5,000 limit |
£10,000 limit |
| Trace and access for escape of water |
£5,000 any one claim (max £10,000 any one period of insurance) |
£5,000 any one claim (max £25,000 any one period of insurance) |
| Unauthorised use of metered water, gas and electricity |
£10,000 limit |
£10,000 limit |
| Landscaping expenses |
£10,000 limit |
£10,000 limit |
| Emergency services |
£5,000 any one claim (max £10,000 any one period of insurance) |
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| Reletting costs |
£500 limit |
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| Loss of rent or alternative accommodation whilst the premises are undergoing repair following a claim |
20% of buildings sum insured |
20% of buildings sum insured |
| Legal expenses cover for eviction of squatters |
£5,000 limit any one period of insurance |
£5,000 limit any one period of insurance |
Business interruption
| Business interruption | Optima Property - Blocks of Flats | Premier Flats |
| Loss of rent |
Optional cover for full Business Interruption for loss of rent with a range of indemnity periods including 12, 24 & 36 months |
Optional cover for full Business Interruption for loss of rent with a range of indemnity periods including 12, 24 & 36 months |
Liability
| Liability | Optima Property - Blocks of Flats | Premier Flats |
| Property owners liability |
£2 million limit of indemnity |
Optional cover |
| Directors and officers liability |
£100,000 limit of indemnity |
Optional cover up to £1 million limit of indemnity |
| Employers' liability |
Optional cover for £10 million limit of indemnity |
Optional cover for £10 million limit of indemnity |
Limits can be extended to include
| Limits can be extended to include | Optima Property - Blocks of Flats | Premier Flats |
| Contents of common parts |
To required sum insured |
To required sum insured |
| Day One |
Up to 35% |
Up to 50% |
| Property owners liability |
Up to £5 million limit of indemnity |
Up to £5 million limit of indemnity |
Excesses
| Excess | Optima Property - Blocks of Flats | Premier Flats |
| Property damage |
£250 |
£250 |
| Subsidence |
£1,000 |
£1,000 |
| Eviction of squatters |
£250 |
£250 |
Benefits
Policy benefits
| Benefit | Optima Property - Blocks of Flats | Premier Flats |
| Non invalidation |
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| Purchasers interest |
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| Full cover on unoccupied buildings subject to conditions |
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| Index linked buildings and contents sums insured |
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| 24 hour legal helpline on tax and employment matters |
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| 24 hour replacement glazing |
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| Business interruption automatically includes denial of access, public utilities, and closure of premises due to vermin, pests, defective drains and defective sanitation up to £25,000 limit |
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| Liability sections include court attendance compensation with limit of £500 per day for director or partner and £250 per day for employees |
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| Public liability includes Defective Premises Act liability and overseas personal liability |
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Literature
Optima Property - Blocks of Flats
Groupama Insurances is a trading name of Groupama Insurance Company Limited. Authorised and regulated by the Financial Services Authority. Number 995253,
Registered in England Registered Office: 6th Floor, One America Square, 17 Crosswall, London, EC3N 2LB. VAT no: 504 6841 54.
