Right to Manage (RTM) need to have the best property owners cover available

Insurance for perils such as fire, theft, loss or damage has always been about having that peace of mind that, if an unfortunate event happens, the policyholder is put back in the same position before the loss occurred.

Over the years insurance has evolved to meet the changing needs of the policyholders with wider covers now available. So are any two insurance policies from different insurers exactly alike? The answer to the question is no, although the basis insured perils are likely to be the same, there will be subtle differences that could mean the difference between a claim being paid or not.

Right to Manage (RTM) companies should be looking for a property insurance policy that provides the widest possible cover as, in the event of an uninsured loss, the cost is going to have to be borne by the company as a whole. For instance, some property policies can now cover breakdown with cover could be particularly useful if a block of flats has lifts.

As claims for water damage are common in blocks of flats it is important that there is adequate cover for trace and access. The cover extension pays for the cost in tracing a leak and, rather surprisingly, is not standard cover in many policies.

For advice on building insurance for Right to Manage properties, contact Tony Gibbs on 0118 9165 485 or complete one of our enquiry forms.

Author: Tony Gibbs | January 13th, 2012

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Tony Gibbs
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk