Managing insurance information across a block of flats

Insurance for a block depends on accurate information about the whole building, its occupation and its management. A consistent record-keeping process helps freeholders, residents’ management companies and managing agents prepare for renewal.\n\n## Maintain a building record\n\nKeep the construction date, materials, number of units, commercial areas, listed status and details of roofs, lifts, plant and communal spaces together. Record major works and alterations as they happen rather than reconstructing the history at renewal.\n\n## Review the reinstatement figure\n\nThe declared value should be based on the cost of rebuilding the block, including professional fees, demolition and site clearance where appropriate. It is not the same as the combined sale value of the flats. Professional valuations should be reviewed at suitable intervals.\n\n## Track occupancy and management changes\n\nRecord empty flats, short lets, subletting and commercial occupation. Keep contracts for cleaners, caretakers and other staff, plus details of managing agents and contractors. These facts may affect the cover required.\n\n## Make insurance information accessible\n\nLeaseholders may need evidence of cover and clear guidance about reporting incidents. A simple process for collecting photographs, dates, invoices and contact details can improve the first notification of a claim.\n\nThis article provides general information only. Lease obligations and insurance arrangements vary, so obtain appropriate professional advice.