If you own or are responsible for insuring a property,
we have many different products available which
we can tailor to suit the circumstances.
Whether it is a residential or commercial property, our policies can cover the rebuild of
the property as well as cover any loss of rent whilst the property is uninhabitable.
I am going to rent out my house so why can’t I just keep my normal Household policy going?
A dedicated Property Owners Insurance policy is designed to cover let properties and will extend to cover things like Loss of Rent and Landlord’s Contents following an insured loss. Your normal Household policy cannot cover these items.
I own both a residential and a commercial property – can I cover both under one policy?
Absolutely. You can cover any number of properties under the one policy.
I am between tenants, does this affect my policy?
If your property is likely to be unoccupied for longer than 30 consecutive days, you need to inform your Insurers because all Property policies restrict cover back once a property becomes unoccupied. By telling your Insurers of any measures you have taken to prevent a claim such as turning off the water and inspecting it every 7 days, they may agree to continue with full cover.
Do I legally need to have Property Owners Insurance?
No although it does protect your asset in the event of damage and it will also provide Property Owners Liability cover.
What is Property Owners Liability?
If you own a property and let it out, you have a duty to make sure that it is safe. Property Owners Liability provides legal defence costs (and any subsequent Damages) if it is alleged that you caused Bodily Injury or Damage to other people’s property through your negligence (for example if you failed to replace a loose handrail on the stairs and someone fell and injured themselves).
How much should I Insure my Buildings for?
It needs to be Insured for an Insurance value rather than a market value. An Insurance value covers: demolishing what’s left after a serious loss, clearing the site, all professional fees and then rebuilding the property. You can then also cover any lost rent whilst the property is unoccupied and being rebuilt. A Chartered Surveyor can provide an Insurance valuation.