Block Policies - what constitutes

hi all,

Can anyone confirm what is covered under a block policy. Are they standard or is each policy tailored to cover individual developments. If they are tailored who decideds what is covered and it this done in conjunction with the lease agreeement.

any info greatly appreciated - I know what I want to ask but not sure how to phrase it so it makes sense.

These policies do vary slightly from company to company. Usually the apartment management company decide on who covers the block. If you're an individual tenant, you need to find out what excess is on the policy for an individual unit (this can often be quite high) you should also have an individual contents policy as the block policy won't cover you're own goods against theft etc.

Lads,

Thanks a million - we (Mgmt Co) having issues with policy paying out on all sorts, when queried we are told the policy covers this. e.g. Glass was claimed for recently on an attempted break in but the Lease Agreement clearly states that glass is not covered.!!!!! When queried with broker I was given the little woman run around and "blinded by science" I was also told to keep the lease seperate from the policy but I cannot see how you would when it clearly states what is classed as common areas etc......I'd probably have to PM you to give all details as the person giving me the info is a fellow broker!