No two homes are alike. Each building and apartment we ensure is different. Outrisk Insurance has a vast experience of 30 years in building insurance. Our expert agents have helped hundreds of apartment building owners get the right coverage – tailored to meet their specific needs and budget.
What is Building Insurance?
What is Building Insurance?
Building insurance is a type of home insurance aimed at apartment building owners and building managers. Many owners and managers of apartment blocks choose to combine Building Insurance with Contents Insurance.
Would you like to cover your residence in case of fire, theft, flood, earthquake or other accidental damage? Then building insurance helps you enjoy peace of mind at all times. Avoid wasting precious time and burden yourself with stressful thoughts if a disaster strikes the building you own.
Do you own and/or manage a community building or an apartment complex? Then, the responsibility on your shoulders is much greater than a homeowner with just one flat. A vital part of your role is ensuring that common areas and building structures are safe and protected against all risks. After all, nothing is more important than keeping your tenants safe!
Read moreBuilding insurance is a type of home insurance aimed at apartment building owners and building managers. Many owners and managers of apartment blocks choose to combine Building Insurance with Contents Insurance.
Would you like to cover your residence in case of fire, theft, flood, earthquake or other accidental damage? Then building insurance helps you enjoy peace of mind at all times. Avoid wasting precious time and burden yourself with stressful thoughts if a disaster strikes the building you own.
Do you own and/or manage a community building or an apartment complex? Then, the responsibility on your shoulders is much greater than a homeowner with just one flat. A vital part of your role is ensuring that common areas and building structures are safe and protected against all risks. After all, nothing is more important than keeping your tenants safe!
Building insurance protects the building itself and also its fixtures and fittings. Many building insurance packages cover the outbuildings, flooring, fences, roof, exterior & interior walls and other structures.
There are building insurance providers who offer extra accident damage insurance. This insurance type protects buildings against accidents that might damage the walls, fixed glass, doors and ceilings.
Read more
Why insure your building with Outrisk Insurance?
Why insure your building with
Outrisk Insurance?
Make sure your building is safe and secure with round-the-clock insurance coverage. As an insurance agent, we will help you pick the best insurance policies from the most credible insurers. Then, we’ll make sure that they accommodate your specific needs at the most affordable prices in Cyprus’ insurance market!
We help insure buildings of any size, from small apartments to resorts and community buildings. Enjoy comprehensive protection against all risks, threats and damages.
If you’ve already insured your property with another agent in Cyprus, you could save money by getting a home insurance quote and switching to Outrisk Insurance.
Insure your building with us today and you’ll enjoy total peace of mind every day!
Make sure your building is safe and secure with round-the-clock insurance coverage. As an insurance agent, we will help you pick the best insurance policies from the most credible insurers. Then, we’ll make sure that they accommodate your specific needs at the most affordable prices in Cyprus’ insurance market!
We help insure buildings of any size, from small apartments to resorts and community buildings. Enjoy comprehensive protection against all risks, threats and damages.
If you’ve already insured your property with another agent in Cyprus, you could save money by getting a home insurance quote and switching to Outrisk Insurance.
Insure your building with us today and you’ll enjoy total peace of mind every day!
Full Building Protection
You benefit from comprehensive building insurance with integrated third-party liability covering the building’s whole structure.
Reliable Insurance Provider
Serving Cyprus since 1989, we have an excellent track record with successful building insurance deals and 100% satisfied customers.
Always By Your Side
Our team is readily available 24 hours, 7 days per week to handle claims about unexpected events, accidents and emergency repairs.
Tailor-made Packages
We offer customized building insurance packages to fit your unique needs and budget.
Well-grounded In Property Law
We acknowledge and follow legislations & regulations of communal property law in Cyprus.
Expert Assistance
The top priority of our friendly and reliable team of expert agents is to help you choose the best building insurance policies tailored to your needs.
Who is this for?
Home insurance is suitable for owners and apartment buildings management committees looking for the best insurance policy for their apartment complex or community building.
Call Us +357 97770067
Email us info@outrisk.com
Why should I ensure a jointly owned building in Cyprus?
Why should I ensure a jointly owned building in Cyprus?
According to Cyprus law, it is compulsory to insure the common areas of jointly owned buildings for the risks of lightning, earthquake and fire. The insurance policies cover all communal areas, including entrance, stairway, elevator, attics, boiler room, roof, central pillars and more. But it’s wiser to opt for building insurance with extended coverage, such as protection from fuel leakage and accidental damages.
The owner or the Management Committee of apartment complexes is personally liable for the financial consequences if a disaster strikes their buildings. If the building is not properly insured, leaseholders and building managers will have to cover the cost of repairing any damages out of their own pocket.
It’s essential though to protect yourself and your tenants against any risks and threats. Your insurance agent will help you choose the coverage package that best fits your building’s needs.
According to Cyprus law, it is compulsory to insure the common areas of jointly owned buildings for the risks of lightning, earthquake and fire. The insurance policies cover all communal areas, including entrance, stairway, elevator, attics, boiler room, roof, central pillars and more. But it’s wiser to opt for building insurance with extended coverage, such as protection from fuel leakage and accidental damages.
The owner or the Management Committee of apartment complexes is personally liable for the financial consequences if a disaster strikes their buildings. If the building is not properly insured, leaseholders and building managers will have to cover the cost of repairing any damages out of their own pocket.
It’s essential though to protect yourself and your tenants against any risks and threats. Your insurance agent will help you choose the coverage package that best fits your building’s needs.
Why is public liability insurance for apartment buildings so important?
Why is public liability insurance for apartment buildings so important?
A communal building, such as a block of flats, is a high-risk area. Common spaces like pools, car parks and lifts pose a high potential risk of injuries and accidents to both the public and the vendor.
So, it’s important for apartment block owners and managers to protect themselves in case a third party gets injured and files a suit against them. Public liability usually covers personal injuries and material damage inside the communal areas and also the surrounding areas of the building.
Building owners and managers can include Public Liability Insurance as an independent premium or can add it as an extra to the Building Insurance package.
A communal building, such as a block of flats, is a high-risk area. Common spaces like pools, car parks and lifts pose a high potential risk of injuries and accidents to both the public and the vendor.
So, it’s important for apartment block owners and managers to protect themselves in case a third party gets injured and files a suit against them. Public liability usually covers personal injuries and material damage inside the communal areas and also the surrounding areas of the building.
Building owners and managers can include Public Liability Insurance as an independent premium or can add it as an extra to the Building Insurance package.
Building Insurance services by the leading insurance agent in Cyprus
Building Insurance services by the leading insurance agent in Cyprus
With more than 30 years of experience, Outrisk Insurance understands that cover and price are important to you. We collaborate with trusted and worldwide reputable insurers to find for you the best cover at the most competitive prices in Cyprus!
So far, we’ve helped hundreds of leaseholders to protect their blocks of flats against any risks and threats. You and your expert insurance broker will work together to find a customized building insurance policy that best suits your needs.
Outrisk Insurance team will always be by your side to ensure your precious assets are safe and secure. For hassle-free and expert building insurance advice, get in touch with us today!
With more than 30 years of experience, Outrisk Insurance understands that cover and price are important to you. We collaborate with trusted and worldwide reputable insurers to find for you the best cover at the most competitive prices in Cyprus!
So far, we’ve helped hundreds of leaseholders to protect their blocks of flats against any risks and threats. You and your expert insurance broker will work together to find a customized building insurance policy that best suits your needs.
Outrisk Insurance team will always be by your side to ensure your precious assets are safe and secure. For hassle-free and expert building insurance advice, get in touch with us today!
What does the building
coverage include?
What does the building
coverage include?
- Public liability
- Loss of rent income
- Wire damage
- Leak detection repairs
- Lock replacement
- Loss of water meter
- Accidental breakage of glass panes
- Debris disposal
- Architect and mechanical fees
- Public authority clause
- Consultant and surveyor extension
- Public liability
- Loss of rent income
- Wire damage
- Leak detection repairs
- Lock replacement
- Loss of water meter
- Accidental breakage of glass panes
- Debris disposal
- Architect and mechanical fees
- Public authority clause
- Consultant and surveyor extension
- Public liability
- Loss of rent income
- Wire damage
- Leak detection repairs
- Lock replacement
- Loss of water meter
- Accidental breakage of glass panes
- Debris disposal
- Architect and mechanical fees
- Public authority clause
- Consultant and surveyor extension
- Public liability
- Loss of rent income
- Wire damage
- Leak detection repairs
- Lock replacement
- Loss of water meter
- Accidental breakage of glass panes
- Debris disposal
- Architect and mechanical fees
- Public authority clause
- Consultant and surveyor extension
Get an insurance quote
Get an
insurance quote
We have the experience and the competitive prices.
Have a look at what we have to offer.
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Frequently asked questions
If you’re a homeowner, you are the one responsible for ensuring your residential building.
If you rent an apartment, your landlord is the one responsible for building insurance. So, please check with your landlord to confirm that building insurance is in place for the property you live in.
If you live in a leasehold property – for example a block of apartments – the building manager knows if there is building insurance for the property. We advise you to ask the freeholder or building manager to ensure that the building you live in has comprehensive coverage. You have the right to ask for the policy documents too.
If you’re renting a property, your landlord is responsible for sorting out a building insurance policy. However, you should consider taking out a home insurance cover to protect your contents.
Building insurance premiums depend on the building’s age, construction and surface in square meters. The older the building, the more expensive the insurance premiums will be.
To calculate the insurance premiums, the insurer might ask for the building’s drawing, design and information on building materials. For example, a tree will be 2 – 2.5 times more expensive than a brick building, because it’s more prone to fire.
On average, the property insurance cost is €2.5 for every €1000 of property value.
Building insurance is the landlord’s responsibility. The tenant is responsible for paying the rent and utility bills.
We advise tenants to opt for contents insurance, though, to protect their valuables and personal belongings against theft, unexpected and accidental damages.
If you live in a leasehold property – for example a block of apartments – the building manager is the one responsible for building insurance. We advise you to ask the freeholder or building manager to ensure that the building you live in has comprehensive coverage. You have the right to ask for the policy documents too.
Yes, our team of experts can design customized plans that protect you against specific risks. We will discuss your situation in depth to properly assess your particular needs.
