Insurance
Find out what insurance responsibilities belong to you, and which are covered by Redwing with guidance to help protect your home and belongings.
Insurance For Shared Owners
Owning a share of your home means your insurance arrangements may be different from those of a tenant or someone who owns their property outright.
Some insurance may already be arranged on behalf of the development, while other cover remains your responsibility.
Understanding the difference can help make sure both your home and belongings are protected.
What Shared Owners Need To Know
Buildings Insurance
In many shared ownership developments, buildings insurance is arranged by the housing provider and paid through service charges.
This insurance typically covers the structure of the building, including things like:
- Walls
- Roofs
- Windows
- Communal Areas
- Permanent Fixtures And Fittings
If buildings insurance is arranged for your development, we’ll explain how it works and where you can find further information.
Contents Insurance
Buildings insurance does not usually cover your personal belongings.
As a shared owner, you may want to consider contents insurance to protect items such as:
- Furniture
- Appliances
- Clothing
- Electronics
- Personal Possessions
If your belongings were damaged, stolen or lost, content insurance may help cover the cost of replacing them.
Do I Need Both?
In many cases, buildings insurance is already arranged as part of your development, meaning you only need to think about contents insurance.
However, every development is different, so its always worth checking 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 residential tenancy.
Do I need contents insurance?
Contents insurance isn’t compulsory but many shared owners choose to have it for peace of mind and to protect their belongings.
Do service charges help pay for buildings insurance?
In many developments, yes. You service charge information will explain exactly what is included.
How do I check if insurance cover is already in place?
Contact us and we’ll explain the arrangements that apply to your development.
Need Support? We Can Help.
If you have any questions about your insurance or need help understanding more about the different types of insurance and what is needed for your property, get in touch with our friendly team, who will be able to breakdown your requirements and suggest the next steps to take for your property.