Purpose Built Flats Insurance and Lift Insurance Policy?

As these regulations place certain duties on people or companies who may own, operate  or have some control of lifting equipment, a good lift policy that will accompany a Purpose Built Flats Insurance Policy, is essential. It will ensure that the LOLER Regulations are fully complied with, without the need for second guessing.

Inspections

Under LOLER Regulations, lifting equipment inspections will need to be carried out by competent persons. The person should have experience & a complete understanding of what potential problems may arise and how to mitigate those risks – this is where a Lift Insurance Policy will be beneficial.

A lift Insurance Policy will prove 6 monthly inspections of your Lift Equipment and provide certification of such inspections.  This will ensure that you are compliant and most importantly, keep your lift users safe!

If you do not comply with LOLER it is considered a criminal offence under UK Law. Failure to comply can therefore result in extremely harsh penalties , and can even go as far as imprisonment in the most severe of cases.

Plant Protection

The plant will be protected from breaking, distortion or burning out of any item whilst in ordinary use arising from either mechanical or electrical defect in the item causing its sudden stoppage. This can also include the fracturing of any part of the plant by frost when as a result, it is rendered inoperative. It should also include the complete severance of a rope forming part of the plant designed for lifting (but not the breaking or abrasion of individual wires or strands even if this necessitates the replacement of such rope).

Cover under this section will be defined under certain policies as the following: 

Sudden and unforeseen damage (SUD) – Damage to Plant which necessitates immediate repair or replacement to enable normal working to continue
including Damage caused by Breakdown, Explosion and Collapse.
Extraneous Damage – Damage to Plant which necessitates immediate repair or replacement to enable normal working to continue
excluding Damage caused by Breakdown, Explosion or Collapse.
Breakdown – Damage to any item of Plant caused by its own Breakdown.
Explosion & Collapse – Damage to any item of Boiler and Pressure Plant caused by its own Explosion or Collapse.

Many Lift Policies will also give cover for Debris Removal which may not be available under a Purpose Built Flats Insurance Policy, in respect of damage to the lift itself. Such cover may include the following:

Removing Debris
Dismantling or Demolishing
Shoring up or Propping of equipment

Please contact us if you would like to discuss your options or if you would like to add a Lift Insurance Policy to your Purpose Built Block of Flats Insurance Policy.