Flat / Maisonette Indemnity
The Flat / Maisonette legal indemnity insurance policy provides cover when the seller of a single private flat or maisonette based within England and Wales has confirmed that there have not been any problems with repairs and maintenance or the payment for them but may be unable to enforce necessary repairs to other parts of the building or obtain appropriate maintenance contributions from other tenants because:
- the lease is defective
- the landlord cannot be traced, or
- the landlord has no obligation to take over the responsibilities of a management company that fails to perform its duties.
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Key Features and Benefits
If the flat owner is unable to enforce the repair of some other part of the building needed for the protection of the flat or obtain reimbursement or contributions towards such repair from other owners due to the absence of the landlord or the inadequacy of the repairing provisions in the lease, the policy provides cover for the following, up to your selected limit of indemnity *:
- the reduction in the value of the property
- irrecoverable costs of repair and maintenance to some other part of the building
- costs and expenses incurred with our consent.
The policy automatically covers subsequent owners of the property and mortgage lenders, and remains in force from the day you issue it without any time limit.