Latest From The Blog

13 10, 2021

How your tenants habits can affect your landlord’s insurance


How your tenants habits can affect your landlord's insurance We all have personal habits. Some are more desirable than others and some are considered not only to be unhealthy but they may also affect your landlord's insurance policy. Take two minutes to find out how! Is the professional tenant's habit, such as smoking or drinking alcohol, a risk factor for the premises? Not surprisingly, smoking causes a large portion of the fire risk. Lying on the sofa with a cigarette in one hand and not putting it out, can result in a house fire. And those are at the top of the list because they are fairly common. So what a lot of insurance companies are doing is putting a little clause in the insurance policy saying that you must not smoke in your rental agreement, which is becoming more and more common. If a claim is made it [...]

How your tenants habits can affect your landlord’s insurance2021-10-13T15:23:43+00:00
8 09, 2021

How do insurers manage uninsured properties post-lockdown?


How to manage the increase in the number of insurance applicants after lockdown? Due to COVID-19, lockdown and the effects on the economy, many people are not sure of their own financial positions. Their job may have been under threat or they weren't sure of their financial future. There has been a lot of uncertainty. So we had found when we came out of the pandemic, we ourselves decided to come back into the office and the easing of the lockdown restrictions of the pandemic, we got a flood of business. One of the key questions in insurance is: "How long have you owned the property and how long has it been between your last policy? So basically, has it been uninsured?" And quite a lot, I would say 30 to 40% of the time, are a new business where our customers who had not insured over the previous [...]

How do insurers manage uninsured properties post-lockdown?2021-10-06T12:24:56+00:00
27 07, 2021

How insurance has been affected by the pandemic


Here are some ways how insurance has been affected by the pandemic With the larger insurers- I must admit, the likes of Aviva, the Axis and Ageas, the biggest impact I've seen is really they're just scaling back the risk. So we get a lot of renewals, the large composite insurers, which are the Aviva's and Axis, and all that type. Ageas. They're scaling back their risk exposure. So they're not keen on offering renewals. Scaling back risks That's obviously due to the pandemic, a direct result of the pandemic in the sense that they've had large business interruption claims that they're possibly going to have to payout. So perhaps maybe, they have a risk, where- I'll just take a simple example. Maybe a property is right beside the sea. They see that now as a risk or more of an exposure than before quite simply because there's a [...]

How insurance has been affected by the pandemic2021-08-06T13:01:15+00:00
12 07, 2021

How Brexit might affect your Northern Ireland property insurance


How Brexit might affect your Northern Ireland property insurance Brexit has certainly influenced some changes. Albeit at the moment, we're not really clear where we are, from an insurance perspective, because in the past, what we did do and what large insurers and reinsurers did was in the European - in the old EU, was simply trade freely so- we had a UK insurer could insure risk in Europe, and vice versa. And there were no real issues. But now, obviously, there are different regulations, or there will be different regulations. There has to be an agreement between the EU and the UK, as to how freely they can continue out those sorts of operations. So if you take a simple example, if you have an insurer in the past, who is insuring your risk in Europe, neither having the passport into what's essentially a third area, a third [...]

How Brexit might affect your Northern Ireland property insurance2021-07-12T13:40:04+00:00
2 06, 2021

Increase in unoccupied commercial properties due to Covid-19


Increase in unoccupied commercial properties due to Covid-19 Many businesses in the UK and around the world have remained closed due to government directives and restrictions imposed following the COVID-19 lockdown, leaving large numbers of businesses and commercial buildings vacant. Whether temporary or permanent, unoccupied buildings are more vulnerable to water leaks, arson, vandalism and theft. Even after businesses reopened, many employees and businesses continued to work from home. This also results in commercial buildings being unoccupied. If your commercial buildings remain closed, you must respect the vacancy conditions of your insurance policy. The wording of your policy should contain the specific requirements set out by your insurance. Most policies state that you will not be covered if you violate these conditions. According to Retail Gazette magazine in one of its articles: “With the UK going in and out of lockdown since March of last year, thousands of stores [...]

Increase in unoccupied commercial properties due to Covid-192021-06-02T08:29:11+00:00
26 04, 2021

Need to make a claim?


Need to make a claim - Aspray could help? We recommend Aspray if you make a property damage insurance claim. Aspray could help you gain a fair settlement from your insurer and then reinstate your property back to its pre-loss condition using their vetted sub-contractors. Call 0800 077 6705 and quote ‘Property Insurance Centre’ #AsprayCouldHelp We recommend Aspray’s award-winning service, which features the use of their own vetted sub-contractors to help get your property reinstated, with as little fuss as possible. Call 0800 077 6705 and quote ‘Property Insurance Centre’ #Aspray #PropertyDamage #Property Have you heard of Aspray? We recommend you keep them in mind if you need to make a property damage insurance claim. They are Loss Assessors who work in your best interest at the point of claim, helping you to get the best settlement possible from your insurer. Call 0800 077 6705 and quote ‘Property Insurance [...]

Need to make a claim?2021-05-10T09:02:08+00:00
16 04, 2021

Working in sheds and garages during the pandemic poses an insurance risk


Working in sheds and garages during the pandemic poses an insurance risk Our habits have changed since the arrival of the Coronavirus and many people now work from home. Some have even converted their sheds, garages, or summerhouses into offices and according to an insurer's statement more and more people expect to do so. According to a survey conducted by the insurance company Aviva, the proportion of people that are incorporating a dedicated office in the home is also increasing. This is convenient but risky at the same time because some workers may not be covered by home insurance in the event of a problem. Most people choose to fit out their homes and work in what is called Shoffice. Get a Quote Insurance under one roof We are specialists in many types of insurance [...]

Working in sheds and garages during the pandemic poses an insurance risk2021-04-16T12:22:46+00:00
25 03, 2021

Why directors and officers liability insurance for blocks of flats is essential?


Why Directors And Officers Liability Insurance For Blocks of Flats Is Essential?  Mistakes made by officers and directors can be held against them, and they should understand and be aware that the law applies to everyone even if you are the director or officer of an RMC, an association of residents or of an RTM company and that of a large company. Despite this, there are still those who do not consider protecting their personal wealth with directors and officers’ policy. The directors and officers of an RMC, a residents' association or an RTM company are those who are covered by directors' and officers' liability insurance also known as management liability insurance, which protects them from errors or mistakes allegedly made in the management of the building for which they are responsible. This also includes legal defense and costs and awards made against them. Get a Quote [...]

Why directors and officers liability insurance for blocks of flats is essential?2021-03-25T16:56:47+00:00
1 03, 2021

What is unoccupied commercial property insurance?


What is unoccupied commercial property insurance? Jackie De Burca So, Robert, for those of us who need an introduction about unoccupied commercial property insurance, can you explain please? Robert Fisher Certainly. So, unoccupied commercial property insurance- basically, it is what it says on the tin, I suppose, but there are a few key elements to it that differ slightly from an occupied commercial property insurance product. The main ones being that, firstly, the cover is less, and normally the premium is more. So, that's the main essential part to an unoccupied product. When I say the cover is less, you have all of your standard perils or causations. For example, fire and flood, malicious damage, storm, whatever it may be- theft, all the usuals. So you have those on a normal policy, but for an unoccupied commercial policy, your coverage is limited to fire, lightning, earthquake and explosion only. [...]

What is unoccupied commercial property insurance?2021-03-01T13:47:50+00:00
1 03, 2021

Working from home insurance and other concerns


Working from home insurance and other concerns The health crisis we are going through has forced many employees to switch to 100% teleworking, sometimes in far from optimal conditions. As the majority of workers have always been used to working in offices, this has come as a shock to many. For managers and employees, this presents major challenges. Questions arise around the challenges, and it is also necessary to consider issues such as working from home insurance. The costs associated with working from home Before the lockdown, the majority of companies said they did not feel ready to implement the changes related to teleworking. In the rush, they had to get started. Even if the current crisis may have removed some brakes, the list of obstacles is long and often linked to costs. Confusion: the training of managers, the cost of training for all (sales team, tools, modes of [...]

Working from home insurance and other concerns2021-03-01T12:32:46+00:00
9 02, 2021

Asylum seeker tenant insurance


Asylum seeker tenant insurance As a landlord, there may be occasions when you are offered asylum seekers as tenants while long term/permanent accommodation is sourced for them. Property Insurance Centre are now able to offer insurance cover specifically for that type of tenant. This will give you peace of mind knowing that all the essentials are covered such as buildings, contents and property owners liability. We can also offer accidental damage cover. Since 1976 Property Insurance Centre have offered specialist commercial insurance for landlords and business property owners. We have a dedicated new business team that offer the best advice and will ensure that you get the best cover for the best price available for Asylum Seeker tenant insurance. Call Claire, Robert or Gavin today on 0800 085 3761. Get a Quote Insurance under one roof We are specialists in many [...]

Asylum seeker tenant insurance2021-02-09T14:22:12+00:00
8 02, 2021

Buy let advice property managers UK


15 Buy to Let Property Managers UK Tips 1- Changes to tax relief for mortgage interest Since April 2017, the tax breaks on mortgage interest have been gradually phased out by the government and the proportion authorized to be deducted is gradually decreasing each tax year. This will peak at the start of 2020-2021 and only a lump sum credit of 20% of mortgage expenses can be deducted from rental income when filing the tax return. These tax relief changes have caused differences of opinion and created controversy, and have long been one of the primary reasons landlords sell their buy-to-let. Discover the government information about tax relief here. 2- Prohibition of rental fees A ban on charging tenant fees was imposed on rental agents in England and Wales in 2019. Deposits capped at five weeks 'rent or six weeks' rent have been questioned in England due to changes [...]

Buy let advice property managers UK2021-08-11T12:13:26+00:00
25 01, 2021

Exhibitors insurance UK


Exhibitors Insurance UK If you are about to or regularly attend exhibitions we offer insurance that protects visitors and staff at your stand. You can add up to £10 million of public liability cover to your policy giving you peace of mind should a third party decide to make a claim against you. This liability cover also covers your employees while they are working at your exhibition stand. Standard features include cover up to £10,000,000 for Public Liability. Employers Liability can also be included up to £10,000,000. Optional Extras include Equipment cover up to £10,000, Cancellation, abandonment & postponement cover. Perfect for trade shows, craft shows, car shows, stallholders and it is likely that the organiser will require you to have public liability insurance. You can choose what parts you want to insure against. Learn more about Shop and Business Insurance Get a Quote [...]

Exhibitors insurance UK2021-01-28T12:51:30+00:00
10 12, 2020

Buying a house


Buy House Insurance when Contracts Exchange Buying and selling a house can be one of the most stressful things you can do! The experts say it's sup there with getting married and packing a young family off on a foreign holiday! There are so many things that you need to organize and quite simply not enough hours in the day, to get them done. An important consideration that we all really should put at the top of the list, is house insurance. Let's face it, you wake up one day and think, mmh, "buy house" but rarely we think of the house insurance. All of that running around, doing this & that, meeting with solicitors accounts for absolutely zero if your house goes up in smoke. This piece is designed to give some simple, straightforward clarification, that every home owner ought to know. If you don't know who should be [...]

Buying a house2021-10-19T09:26:22+00:00
17 11, 2020

End of tenancy


End of Tenancy More than ever before the end of tenancy can have a significant impact on what lies ahead for landlords of commercial property or residential property owners. At this time the stakes have never been higher, with an increase in tenants on the residential letting side unable to pay their rent as a direct result of the pandemic & job losses. With landlords simply unable in many cases to evict them, the end of tenancy may come as a pleasant relief for some landlords – they may be able to re-let or at least advertise for a tenant that will keep the cash flow coming in their direction. However, most landlords will inevitably deal with some level of unoccupancy for at least a limited period of time, others may experience much longer periods of unoccupancy. This not only causes the obvious headache with a much reduced income, [...]

End of tenancy2020-11-17T14:45:57+00:00
9 11, 2020

What do I tell my insurance company?


Does your Block Building Insurance policy need updated? With current restrictions in place across much of the UK, Block buildings are no different to commercial properties, in the sense that occupancy levels may start to reduce with the onset of job losses, and tenants perhaps unable to pay the rent. There will of course be many reasons for block buildings such as flats becoming partly or completely empty, and it is crucial for whatever the reason, you inform your block building insurance provider of this change. This is critical to ensure you understand if there are any changes to the level of cover or if there are any extra conditions you must comply with due to levels of unoccupancy. Failure to tell your insurer can open you up to a whole host of problems. (Our own terms of business can be read here). Top Tip – Any change to [...]

What do I tell my insurance company?2021-03-16T14:52:13+00:00
4 11, 2020

Are blocks of flats a good investment?


Are Blocks of Flats a good investment? Are blocks of flats a good investment? It’s a fairly subjective question. Like most property, if you are in it for the long haul, then chances are your investment return will far exceed any short-term returns you might have had should you sell early. Blocks of flats (sometimes known as multi-unit freehold blocks) have much higher average yields than other property, getting finance for them is just as obtainable and Buildings Insurance for Blocks of Flats is also easy to purchase with greater level of discount available. Seems like a no brainer if you have the funds. Let’s have a look at yields, finance and buildings insurance for flats. First, what is a multi-unit freehold block? Multi-unit Freehold block This is defined as multiple, separate, independent residential units which are held under one single title. These would include: Blocks of flats which [...]

Are blocks of flats a good investment?2021-03-16T14:53:36+00:00
26 10, 2020

Who leaves it to their Blocks of Flats Insurance?


Who 'leaves' it to their Blocks of Flats Insurance? It’s that time of year again. The clocks have just gone back and you have had that extra hour in bed already...hopefully. The temperature has dropped a little and the leaves are falling from the trees and lay on the ground displaying that spectacular array of colours. It really is a beautiful time of year in many ways. In the world of insurance, it also represents a time when there inevitably are more claims made, due to ever-worsening weather. However, it’s just not the weather that can cause property owners to call their insurance company’s claims line. The change of season and falling leaves can also cause blockage of drains. Although your insurers should look to cover most drainage issues, who needs the hassle? Especially if it’s a large block of flats with numerous families housed therein. Prevention is better [...]

Who leaves it to their Blocks of Flats Insurance?2021-10-18T14:21:10+00:00
8 10, 2020

How do I insure a lift for breakdown?


Lift Insurance including Inspection & Breakdown If you are responsible for the insurance of flats in a block, you will no doubt know of the various responsibilities places upon you. If you live in a modern purpose built block of flats & are lucky enough not to have to take the stairs, as there is a nice new shiny elevator, then add an extra layer to those already stringent responsibilities. Outside of Health & Safety Requirements you are obliged to ensure that the lift is in perfect working order for the passengers. If you are not sure where to start, then a Lift Inspection and Engineering policy (otherwise known as lift insurance) is a very good place to start. If you haven’t already got one in place, it should be considered – when an elevator breaks down and there is no lift insurance policy in place, this can give [...]

How do I insure a lift for breakdown?2020-10-08T10:53:37+00:00
2 10, 2020

Do I need Freeholder Insurance?


Do I need Freeholder Insurance? Freeholder Insurance is similar to other buildings insurance policies with one or two subtle differences, so don’t let the terminology throw you. A freeholder is the ‘superior landlord’, and therefore these policies are not too dissimilar to a landlord policy one might have for a buy-to-let rental property for example. If you are looking for a freeholder policy, the chances are you are looking for a Block of Flats Insurance policy, where there are leaseholders or private tenants or even a combination of both. The Freeholder is simply the landlord and is often responsible for insuring the building unless there is a Right to Manage Company set up in its place to do the same. Freehold insurance will ensure the building is covered & it is up to individual tenants & leaseholders to insure their own contents. Freeholder can be defined as : Someone [...]

Do I need Freeholder Insurance?2020-11-25T16:52:46+00:00
25 09, 2020

Is getting Builder Insurance even worth it?


Is getting Builder Insurance even worth it? Life on a construction site has certainly changed in 2020. Or at least it should be where at all possible. Covid-19 led to a nationwide lockdown which of course had a huge knock on effect to the construction industry. Times are tough but this doesn't mean one should forget taking out a good builder insurance or trade insurance policy. Sites had not been forced to close this year, but contractors had to implement all sorts of new measures to protect their employees. Before we go in to some of those measures, this inevitably meant one thing as a starter, the whole build process would take a lot longer that it did before with the extra measures that were introduced. Sites have had to implement: Social Distancing – slowing down certain processes that would normally take half the time Provide extra PPE (delays [...]

Is getting Builder Insurance even worth it?2020-09-25T14:36:08+00:00
21 09, 2020

Be careful where you leave your Wheelie Bin


Careful where you leave your Wheelie Bin! Every household will have one – a wheelie bin. Every week we go through the motions of separating our food wastes, plastic recyclables and garden wastes from normal household waste. After our wheelie bins are jam packed and left on the street to be collected by a refuse collector, we hope that our bin won’t be missed or left because, “the lid couldn’t close.” If you have a wheelie bin, you will no doubt harboured these thoughts many times, but have you ever considered your occupiers liability? So the bins are out the night before (if you are organised) & or first thing in the morning, and you run out the door, coffee in hand to join the daily commute! Nothing to worry about, your bin is emptied, and you return home on a dark & wet winters evening & get straight [...]

Be careful where you leave your Wheelie Bin2021-03-16T14:40:49+00:00
14 09, 2020

Will it be twice as bad?


Will it be twice as bad? Experts have warned that the current crisis from the Pandemic could result in twice as many redundancies as there were in 2008 - 2009 as a result of the Global Financial Crisis! A survey carried out by the British Medical Association  (BMA), found that 80% of 500 GPs and hospital consultants  surveyed believed a second wave is "likely" or "very likely" to happen. That will mean a lot of people out of work and a lot of negative consequences as a result. When people are out are of work, inevitably all roads lead back to some sort of effect on the housing market. Tenants can no longer afford to make their rental payments,  home owners can fall short on their monthly mortgage payments and risk losing their homes. These two scenarios played out heavily during the 2008 financial crisis, and when this happens the [...]

Will it be twice as bad?2021-03-16T14:47:33+00:00
20 08, 2020

Good News for Home Buyers?


Stamp Duty Relief When purchasing a property you must pay Stamp Duty Land Tax (SDLT) if that property (or land) is over a certain price. The higher the price, then the SDLT increases incrementally. However, the government in a bid to kick start the housing market has changed the levels that stamp duty must be paid. Essentially, taking many people out of actually paying stamp duty at all until the purchase is over £500,000 in England & Northern Ireland. Scotland & Wales have changed their rules too.In Scotland, it has now been changed to up to £250,000 (known as Land and Buildings Transaction Tax). Wales have taken a slightly different approach and have increased the nil-rate band from £180,000 to £250,000 (known as Land Transaction Tax), but only for main residence purchases & not second homes – not very good news for buy to let investors in Wales!Any way you [...]

Good News for Home Buyers?2020-08-25T11:12:36+00:00
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