Insurance
Find out which insurance responsibilities belong to you as a leaseholder and which are managed by Redwing on behalf of the building.
Insurance For Leaseholders
Owning a leasehold property means it’s important to understand what insurance is already in place and what additional cover you may wish to arrange yourself.
In many developments, some insurance is arranged on behalf of all leaseholders, while other cover remains your responsibility. Understanding the difference can help make sure both your home and belongings are protected.
What Leaseholders Need To Know
Buildings Insurance
In many leasehold developments, buildings insurance is arranged collectively and funded through service charges. This insurance typically covers:
- The structure of the building.
- Roofs, walls and foundations.
- Communal areas.
- Shared fixtures and fittings.
If building insurance is arranged for your development, we’ll be able to explain how it works and where to find further information.
Contents Insurance
Buildings insurance does not usually cover your personal belongings.
As a leaseholder, you may want to consider contents insurance to help protect items such as:
- Furniture.
- Electrical items.
- Clothing.
- Jewellery and valuables.
- Personal possessions.
If your belongings were damaged, stolen or lost, contents insurance may help cover the cost of replacing them.
Do I Need Both?
Many leaseholders will find that buildings insurance is already provided through their development, meaning they only need to think about contents insurance.
However, every building is different, so it’s important to understand exactly what cover is already in place before arranging a policy.
Not Sure What Applies To You?
Insurance arrangement can vary depending on your home and your lease.
If your unsure what cover is already provided, or what you’re responsible for insuring yourself, we’re here to help.
Frequently Asked Questions
Our frequently asked questions provide you with answers to some of the most common questions around leasehold insurance.
What is buildings insurance?
Buildings insurance helps protect the structure of the building and any communal areas from certain risks such as fire, flood or storm damage.
Do I need contents insurance?
Contents insurance isn’t compulsory, but many leaseholders choose to have it for peace of mind and to protect their personal belongings.
Are buildings insurance costs included in my service charges?
In many developments, yes. Details of what is included will be outlined in your service charge information.
How can I find out what cover is already in place?
If you’re unsure what insurance arrangements apply to your home or development, please get in touch and we’ll point you in the right direction.
What happens if I need to make an insurance claim?
The process will depend on the type of claim and the insurance policy involved. IN you’re unsure, contact us and we’ll explain the next steps.
Need More Information?
Not sure what cover is already in place or what you’re responsible for insuring?
We’re here to help explain the arrangements that apply to your development.