3 Reasons To Use A Specialist Block Of Flats Insurance Broker

Choosing the right insurance for a block of flats can be a confusing process. Which is the best policy for both you and the other leaseholders? Where do you find the best price? What does all the terminology in the small print mean? Here’s why seeking the services of a specialist block of flats buildings insurance broker may be the best solution for you.

1. Specialist block of flats insurance brokers understand your needs

Specialist insurance brokers are experienced professionals who act on your behalf. Their job is to learn your needs and provide you with the best insurance policy to suit your requirements. Most block of flat insurance brokers will have up-to-date knowledge of the industry and years of experience offering expert advice. Buildings Insurance brokers also have the expertise to provide cover for areas that you might not have yet considered. This could range anywhere from engineering breakdown to directors’ and officers’ liability. Having a conversation with a broker, such as Flats Direct, means that you can be reassured that your flats insurance policy is comprehensive and bespoke to you.

There are many flats insurance covers that we can organise to keep you protected. Therefore, if anyone is to make a claim, you’ll have peace of mind about the financial expenses.

2. Specialist building insurance brokers are regulated

As of 2005, all insurance brokers in the UK must be regulated by the Financial Conduct Authority. The FCA regulates and supervises over 50,000 legal services and insurance firms in the UK. For those concerned about security, an FCA authorised building insurance broker is a safe option. The benefits of an FCA authorised block of flats insurance broker are that:

  • You can address any complaints directly to the FCA
  • Your money is safely stored in an 'insurance broking account'
  • Your broker’s solvency and working capital must be reported to the FCA
  • Your selected building insurance broker will have years of experience and a duty of care to you.

If you are unsure if your broker is regulated by the FCA, you can check their financial services register. Remember, if you aren’t happy with your flats insurance policy, you can always find a new one before signing the dotted line. At Flats Direct, we support you throughout the entire process and long after you have signed off a policy. That includes any support you might need with a claim.

3. Specialist Insurance brokers can offer you’re the best price

Most traditional insurance companies will run your insurance through numerous parties. These include freeholders, managing agents or brokers. Each of these parties may even take some of the premium as a commission. However, as specialist insurance brokers, we cut out the middleman and go to suppliers directly. We will find the best terms to suit you directly from a variety of block of flats insurance companies. What’s more, our insurance team don’t charge commission, so you can get the best rates available.

If you need help with your block of flats insurance, contact Flats Direct on 0800 7316242 or complete our block of flats insurance online quote. We are happy to discuss your needs and find you a comprehensive policy.