What is property owners insurance?
The property owners insurance policy is designed to provide the commercial and residential landlord with the cover required to protect their interests in a single, easy to administer policy whilst also offering great value for money.
Who needs property owners insurance?
Anyone or any business that owns property that is tenanted rented or unoccupied needs to be sure that they are protected against financial loss as a result of physical loss or damage at the property or against claims in respect of their legal liability as owner or landlord of the property.
Generally speaking property owners insurance is required by building owners who do not occupy the property, whether this be as private dwelling or as a business property. There are occasions where you may actually occupy the property, but that you require a separate policy to protect the interests of the building owner specifically. This can happen when perhaps a company pension scheme owns the building or the building is owned by more than one person and not occupied by all of them.
What is covered under a property owners insurance policy?
Material Damage and Property Damage
Cover in respect of buildings, outbuildings and any contents in the property that you own or are responsible for.
Loss of Rent
Protecting your income from the property if there is a claim under the property insurance and your income/rent is reduced as a consequence of this e.g. the property is destroyed by fire.
Property Owners Liability
Protects the policyholder against claims made against them in respect of their legal liability for personal injury or property damage arising from the ownership of the property.
Protects the policyholder against claims from any employees in respect of the policyholders legal liability for death disease or personal injury arising during the course of their employment.
Apply on-line or call us direct to discuss your requirements.