Block of flats insurance can provide coverage for tenant damage, but it depends on the specific policy terms and conditions.
Some block of flats insurance policies may include coverage for accidental damage caused by tenants, while others may exclude this type of damage or provide it as an optional extra.
It’s important to carefully review the policy terms and conditions to understand what is and is not covered by the insurance policy. If tenant damage is not covered by the insurance policy, it may be necessary to consider additional coverage options, such as landlord insurance or rent guarantee insurance.
Landlord insurance typically provides coverage for damage caused by tenants, including malicious damage and accidental damage, as well as protection against legal expenses and loss of rental income. Rent guarantee insurance provides coverage for the loss of rental income due to a tenant defaulting on rent payments.
You can speak to a block of flats insurance broker to discuss your options and be sure that the policy you choose covers everything you need.