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Ask the insurance expert

What building insurance do I need for rented flats?

Monday, 02 Jun 2008 15:13
A reader has converted his home into flats – which is he is now renting out. However, he is uncertain what building insurance cover he should buy.

Ian Durrell, myfinances insurance expert from the Only Group, which includes onlyinsurance.com, tackles the issue.

James from Birmingham asks:

My house is divided into three flats. I live in one and rent out the other two.

What sort of buildings policy do I need?

Searching the net has not yet found anything that seems appropriate to me.

Ian replies:

You will need a buildings insurance policy to cover the rebuild of the properties that you own.

You will need to discuss the restrictions that may apply if any of them are rented out and if they are separate flats you if you are an occupant. I advise you speak with an advisor who will be able to help.

If you have a question for Ian, go to the myfinances.co.uk Ask the Insurance Expert section.

Only Group is authorised and regulated by the Financial Services Authority.




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