Should you insure your apartment?

The question of whether you should insure your apartment often comes up and the answer largely depends on your lease. Most leases specify that the building’s insurance covers the structure, but not the contents inside your apartment or internal pipework. Service charges generally pay for building insurance and, if applicable, for specific coverages like directors and officers insurance or engineering insurance for items like lifts. However, it’s advisable for landlords to obtain separate contents insurance and pipework cover, as leaks or damage from within your apartment usually aren’t covered under the building’s insurance. This additional coverage ensures that landlords are protected against potential liabilities that the building’s policy does not address.