Wherever you are on the property ladder, obtaining the correct insurance advice is crucial. Here at Property Hub, our recommended partner services are here to help make sure any bumps in the road on your property journey have a just the right sized cushions to soften the blow.
For more information on:
Book your confidential insurance consultation by filling in the form opposite or calling 0208 9031002 or 0208 459 3333 and safe guard your most prized possessions.
Building insurance is coverage purchased to protect financial risks because of a loss or damage to physical structures that you own. Three common types of building insurance are part of insurance packages purchased by home owners, landlords and business owners. This coverage category protects against total loss from natural disasters, as well as payments for certain types of damage repairs. Definitions of buildings insurance are generally the same and to define a building this means, for insurance purposes, the actual structure, the foundations, the walls, floors, roof, windows, plumbing, fixed electrical wiring and its decoration and permanent fixtures and fittings. Buildings insurance could also cover fitted kitchen units, fitted bedroom furniture, toilets and baths. Basically anything that is a fixture to the building is normally classed as within the buildings insurance cover. There are many different types of buildings insurance which is dependent on the type of construction and the actual use of the building. Basically the core areas of cover are the same.
Rent Guarantee Insurance
Rent Guarantee Insurance will protect you in the event that your tenant fails to pay the rent. Most Landlords do their best to ensure that they let their properties to the best possible tenants - unfortunately it's a fact of life that events happen beyond our control. If a tenant falls behind on their rental payments it could have serious financial implications for you, especially if you have mortgage commitments on your property.
The excess is the amount you would have to pay in the event of a claim, with any kind of insurance policy. Once you pay your excess on your policy then only insurance will look in to your claim. Excess can be ‘NIL’ or it can be up to any amount depends on insurance company and policy you taking. Generally excess is payable as a compulsory payment in advance when starting a claim relating to any of the following: claiming on tenant(s) when rent is overdue, home breakdown ( including boiler, heating or fixtures), fire, flood, theft, car accident, subsidence, etc
Landlords insurance is an insurance policy that covers a property owner from financial losses connected with rental properties. The policy covers the building, with the option of insuring any contents that belong to the landlord that are inside. Landlords insurance is often referred to as buy-to-let insurance, however buy-to-let insurance is a type of landlords insurance. It is important to distinguish between buy-to-let insurance which generally covers one property that has been purchased with a buy-to-let mortgage, and multi-property insurance, which covers two or more properties. Each of these types of landlords insurance covers different things. Landlord insurance is separate from landlord’s emergency cover. The policy will normally cover standard perils such as fire, lightning, explosion, earthquake, storm, flood, escape of water/oil, subsidence, theft and malicious damage. Each insurance policy is different and may or may not include all these items. Optional coverage might include accidental damage, malicious damage by tenant, terrorism, legal protection, alternative accommodation costs, contents insurance, rent guarantee insurance, and liability insurance. Landlords insurance policies typically do not cover any personal property belonging to tenants, or otherwise protect the interest of tenants; although a liability policy protecting a landlord or property manager will be of benefit to tenants should they incur a loss for which the landlord is responsible.
Contents insurance is insurance that pays for damage to, or loss of an individual's personal possessions while they are located within that individual's home. Some contents insurance policies also provide restricted cover for personal possessions temporarily taken away from the home by the policyholder.