Standard property insurance cover on a block of flats or apartments is unlikely to include damage by terrorists. It has to be requested and an additional premium is payable. You may find that terrorism cover is a requirement of your lease or mortgage provider, so it’s advisable to check.
The court appeal in the “Qdime case*” (July 2014) upheld that if an insurance clause in your lease includes a requirement to insure against explosion, then this should include terrorism. The ruling made clear that this cover is a requirement of most leases. While the likelihood of a terrorist incident may seem small, uninsured losses could be massive and it may not be worth the risk.
For a copy of our guide to Terrorism insurance, the cover provided under a standard policy** and examples of how the cover could benefit you, click here.
*Qdime Ltd –v- Bath Building (Swindon) Management Company Ltd Various lessees of the Bath Building (2014) UKUT 0261 (LC).
** For full terms and conditions please refer to the policy wording available on request.