Home Insurance

8 10, 2020

How do I insure a lift for breakdown?

2020-10-08T10:53:37+00:00

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?

2020-10-02T10:34:07+00:00

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?2020-10-02T10:34:07+00:00
25 09, 2020

Is getting Builder Insurance even worth it?

2020-09-25T14:36:08+00:00

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

2020-09-21T12:20:18+00:00

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 Bin2020-09-21T12:20:18+00:00
14 09, 2020

Will it be twice as bad?

2020-09-14T13:12:38+00:00

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 [...]

Will it be twice as bad?2020-09-14T13:12:38+00:00
20 08, 2020

Good News for Home Buyers?

2020-08-25T11:12:36+00:00

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
18 08, 2020

What should I be concerned about if there is a second lockdown?

2020-08-18T09:57:28+00:00

Business Insurance Lockdown Concerns It seems very likely there will be second wave of coronavirus in the not too distant future. Whether or not that brings a second lockdown on the same scale as the one we saw in March remains to be seen. People will no doubt be concerned from a health perspective, but what about from a business perspective for business insurance in Northern Ireland? Being a business owner there will no doubt be even more uncertain times ahead. One thing that will be needing some clarity is the Business Interruption Insurance coverage some insurers have provided for on their policy wordings. You may or not be aware, the FCA is involved in a test case to see if there can be much needed clarity brought to coverage under a business insurance policy & more specifically, the Business Interruption insurance afforded under them. The main aim of [...]

What should I be concerned about if there is a second lockdown?2020-08-18T09:57:28+00:00
11 08, 2020

Do I needs Directors and Officers Cover?

2020-08-11T10:32:30+00:00

Directors and Officers Insurance Directors and Officers Insurance, do I really need it? When the topic of Directors and Officers Insurance is raised, this is the most common question. Well, it depends. You may be a limited company and as director of that limited company, stick to procedure and do everything to the best of your abilities. But that doesn’t mean errors will not occur. Insurance has always been about peace of mind. When asking, “Do I need D&O Insurance?” It should be looked at in the context of the potential liability of loss you could face. This is why many Directors take out a Directors and Officers Insurance policy. One thing that truly answers that question for most Directors and Officers is that your personal assets could be at risk. A frightening thought, but it is a fact. Being a Director or Officer has the potential to be [...]

Do I needs Directors and Officers Cover?2020-08-11T10:32:30+00:00
31 07, 2020

Should I take out Legal Expenses Insurance?

2020-07-31T15:00:00+00:00

Legal Expenses Insurance Being a landlord you should be automatically covered under a landlord policy for the standard risks such as Fire, Subsidence, theft, flood and so on. However, being a landlord you may well feel that you are exposed to other risks that you may not necessarily been exposed to before. This is why you should consider taking out legal expenses insurance. You may be able to take out a legal expenses policy as an extra on your current landlord’s policy or if that’s not available, you can take out a standalone legal expenses insurance policy. So, what does it cover you for? Being a landlord you are now exposed to events you had never been exposed to before. This may include the following: Breach of Tenancy Agreement This may provide cover for any breach by a tenant of any obligations they might have under the tenancy agreement [...]

Should I take out Legal Expenses Insurance?2020-07-31T15:00:00+00:00
20 07, 2020

What is next for the high street?

2020-07-20T14:29:42+00:00

What is next for the High Street? The High Street has been in decline for over a number of years, and 2020 has thrown another spanner in the works. If it was not bad enough, the coronavirus pandemic has dealt another huge blow to all high street traders. With many staff still on furlough, many small businesses have been forced to close and who is to say that they will ever feel there is the right environment to return. Even when the furlough scheme eventually finishes, what guarantees do employers have that their staff will want to return? This places high street traders under huge uncertainty and may be the final nail in the coffin for some traders. This as we all know now and has been said many times before, will have a huge knock on affect to our economy. Many business have shut already as financial help [...]

What is next for the high street?2020-07-20T14:29:42+00:00
14 07, 2020

Nursery Insurance

2020-07-14T15:03:22+00:00

Nursery Insurance Is it better to insure Nursery Buildings separately? If you are looking for Nursery Insurance to cover the nursery building itself, you should make sure you are covered for the following first: Property Owners Liability Loss of Rental Income Standard perils such as Fire, Lightning, Earthquake, Aircraft, storm theft etc A standard buildings policy should cover all of the above. You will even have the option to include or add some extra coverage to the buildings. This may include the likes of Legal Expenses up to £100,000 per claim or extended Full Accidental Damage to the buildings. Some policies will include these ‘extras’ as standard, so it is important to check with your broker when taking out a policy. The question as to whether or not it is better to separate the business from the building, may in fact be out of your hands if they are [...]

Nursery Insurance2020-07-14T15:03:22+00:00
10 07, 2020

Woodland Insurance

2020-07-10T14:08:42+00:00

Woodland Insurance What is Woodland? A woodland is a habitat where trees are the dominant plant form on the land. The individual tree canopies generally are seen to overlap one another and interlink. They often form a more or less continuous canopy which shades the ground to varying degrees. There will be a great variety of other plants, depending on the amount of light reaching the ground through the tree canopy. Other such growth may include mosses, ferns and lichens, or possibly flowering herbs, grasses and shrubs. Animal diversity in the woodland is dependent on the different kinds of plants there are. As of 31 March 2020 is estimated to be 3.21 million hectares of Woodland in the UK. This represents 13% of the total land area in the UK, 10% in England, 15% in Wales, 19% in Scotland and 9% in Northern Ireland. Woodland can be divided into 3 [...]

Woodland Insurance2020-07-10T14:08:42+00:00
26 06, 2020

New Regulations for landlords to consider

2020-07-07T14:58:41+00:00

New Regulations Five Yearly Electrical Checks From 1st June 2020, private landlords in England will be required to have the electrical installation in their rental properties checked by a qualified electrician to ensure that they are safe. This means that: Electrical Installations must be inspected and tested prior to the start of a new tenancy from 1st July 2020 Checks must be carried out on any existing tenancies by the 1st April 2021 These checks must then be carried out on a five-yearly basis. A copy of the most recent electrical safety condition report (EICR) must be provided to both new and retained tenants. The landlord is responsible for making sure that the person who completes the check is suitably competent. Using an electrician or firm that is a member of an accredited registration scheme operated by a recognized body will give you the confidence that this has been achieved. Mandatory [...]

New Regulations for landlords to consider2020-07-07T14:58:41+00:00
3 06, 2020

Can a missing EIC stop me selling my home?

2020-06-03T14:57:55+00:00

Can a missing EIC stop me selling my home? If you have had any ‘notifiable’ electrical works carried out at your home since 2005, the law requires you to have an Electrical Installation Certificate (EIC). If you don’t have an EIC when it comes to selling your home, it can throw a spanner in the works during the conveyancing process. This article looks at the implications of a missing EIC and what a seller’s options are when it comes to moving home. What are ‘notifiable’ works? Electrical work carried out at residential properties in England and Wales is covered by Part P of the Building Regulations. The regulations state that: Reasonable provision shall be made in the design and installation of electrical installations in order to protect persons operating, maintaining or altering the installations from fire or injury’. Building regulations are policed by Local Authority Building Control (LABC). LABC [...]

Can a missing EIC stop me selling my home?2020-06-03T14:57:55+00:00
13 02, 2020

17 property insurance loopholes you need to know about today

2020-07-07T15:19:18+00:00

This expert guide walks you through the potential property insurance loopholes that insurers will exploit, to reduce their claims' exposure. As a property owner, you might be surprised by some of these potential pitfalls. By Robert Fisher Reading time: 6 minutes Version: USA Your insurance policy has been purchased and so you can rest easy, or can you? If you have purchased the correct policy with the right amount of cover, and added all the required information accurately, plus invested some time to check the finer points then should the worst happen, you will be fine. This is the principle of indemnity. If on the other hand, you get any of this wrong, your mistake could end up costing you hundreds of thousands to reinstate a building following a large loss. It is all in the finer details. This guide dives right into the loopholes and pitfalls you can encounter [...]

17 property insurance loopholes you need to know about today2020-07-07T15:19:18+00:00
28 06, 2019

Property Insurance

2020-05-13T15:22:33+00:00

Property Insurance With lots of the companies offering Property Insurance we wanted to let you know about why you should choose Property Insurance Centre for your buildings insurance needs: Independent broker with friendly, knowledgeable staff available online or by phone. Access to a wide range of insurers in the UK with the best cover and rates available. Bespoke insurance schemes & portfolio policies are available. Complete peace of mind through our tailored policies. Experts in Occupied & Unoccupied Commercial & Residential Insurance policies. Over 40 years of experience working with the best insurance underwriters in the UK. Excellent communication so that you understand what risks you are insured against. Get a Quote Insurance under one roof We are specialists in many types of insurance Everyone who owns [...]

Property Insurance2020-05-13T15:22:33+00:00
5 11, 2019

House Insurance Northern Ireland

2020-05-13T15:51:20+00:00

Home Insurance NI A recent House Price Index showed the standard price of a property in Northern Ireland is £136,767 and this ranges from terrace properties at £95,202 to detached properties at £204,060.  Many buyers borrow a mortgage of between 75 and 95% of the value of the home and providers normally require the property to be insured while the mortgage remains in place.  Even if you do not have a mortgage, most people’s homes are their biggest asset so there’s a clear need to make sure all home owners make sure they get best Home Insurance NI policy with multiple layers of protection. Failing to adequately insure your home can have massive repercussions if the worst happens and you home is damaged.  But what do you actually need to insure? Get a Quote Insurance under one roof We are specialists [...]

House Insurance Northern Ireland2020-05-13T15:51:20+00:00
29 10, 2019

Buy to let insurance

2020-05-14T15:13:18+00:00

Buy to Let Insurance If you have already bought a property to let or you are thinking about it, make sure you take out the right buy to let insurance policy. When you are letting a property, you can’t just take out normal home insurance cover as you have additional responsibilities which you need to cover.  You are not present in your property all the time, so there are also different kinds of risk that you and your property are exposed to. So what kind of risks do you need cover for? Everyone knows there are a wide range of things that can go wrong when you own and let out a property. From mechanical breakdowns with cookers or boilers to damage caused by a fire, flood or the tenant themselves, no one can predict what may go wrong. A buy to let policy can include cover for a wide [...]

Buy to let insurance2020-05-14T15:13:18+00:00
29 10, 2019

Should I take out tenant’s liability insurance?

2020-05-15T08:43:35+00:00

Should I take out tenant’s liability insurance? Have you just signed your tenancy agreement and are getting ready to move into your new property?  Maybe you have lived in a rented property for a while but you have never taken out any insurance cover?  Whether you are moving into a new flat or a house or you have been there for yours, if you haven’t already done so, you should really think about taking out tenants liability insurance.  Here’s a bit of information to help you with the decision. What is tenant’s liability insurance? When you rent a property your tenancy agreement normally comes with a list of things which are in the property such as fixtures and fittings and household items.  At the end of your tenancy agreement, and sometimes at intervals in between, your landlord or their agent will check that these things are still in the [...]

Should I take out tenant’s liability insurance?2020-05-15T08:43:35+00:00
25 10, 2019

Landlords Cover and Fire Cover

2020-05-14T15:34:30+00:00

Landlords Cover Customers will often call us and ask for Fire Cover or Landlords Cover when taking out a policy. This terminology often originates from lenders and banks, who insist that where there is a mortgage in place, there is also fire cover in place. When taking out Fire Cover or Landlord Cover as it is more commonly known as. Do you know what you are actually being insured for? We let’s look at the main covers under a standard Landlord Insurance policy for a Residential Buy to Let Policy. Fire Cover Fire is self – explanatory. Normally from an electrical fault for example or from an explosion. Top Tip – check your policy covers Fire AND also does not exclude arson. Not all policies cover arson. Get a Quote Insurance under one roof We are specialists in many types of [...]

Landlords Cover and Fire Cover2020-05-14T15:34:30+00:00
24 10, 2019

Landlords Contents Insurance

2020-05-14T15:42:00+00:00

Landlords Contents Insurance Landlords Contents Insurance Let’s say you are Property Investor and the immediate thought is let’s get the building covered as that is where the biggest risk is. Right? Well, not ALL of the time. Yes, or course get the building insured as a matter or priority to get immediate protection on your hard earned investment, but don’t forget about the contents which becomes even more important when the property becomes occupied by a tenant. Let’s look at why in a moment, but first, what is landlords contents insurance?Question: What is the most common Landlord Insurance Claim. Answer: Escape of water claim to landlords contents including carpets! What is landlord contents insurance? These are the contents owned by you, the landlord. Imagine you but a property to rent out and decide to get a tenant after some general sprucing up of the property. Then you get the [...]

Landlords Contents Insurance2020-05-14T15:42:00+00:00
23 10, 2019

Protect the Family with Insurance

2020-05-15T08:45:56+00:00

Get the correct Cover There are loads of insurance companies out there and loads of insurance broker to choose from. Today it is easy to go online and search them out. Competing insurers will often give fantastic offers at discounted prices. The temptation, of course, is to go for the 'cheapest' one - especially when you are trying to make savings at times of relative hardship! For example, let's say you own a 4 storey Victorian Town House. You go online and fill in their online form, and there is a fantastic premium quoted. It halves your current insurer's renewal price and provides all the best cover available. BUT, there is one problem - you filled the form in incorrectly by mistake. You have confirmed there are only 3 floors at the property. You think, "No big thing, right?"  Wrong! How do you know the insurer covers properties with [...]

Protect the Family with Insurance2020-05-15T08:45:56+00:00
18 10, 2019

Landlord cover with public liability

2020-05-14T16:14:30+00:00

Landlord Cover with Public Liability What is Landlord Cover? Landlord cover is insurance for landlord which includes insurance for Flood, Storm, Fire, Loss of Rent, Theft, malicious damage, accidental damage, to name a few. Most importantly it includes Landlord Liability Cover. Top tip when buying Landlords Insurance Make sure the Property Owners Liability or Landlord Liability is sufficient - Property Insurance Centre can offer policies that provider the landlord with cover up to £2,000,000, £5,000,000 or even £10,000,000 for much larger property, such as a large flats insurance. You need to assess the risk at your premises, by thinking of who visits your property and how often people visit the property - all of which increases the risk of higher landlord liability required. Get a Quote Insurance under one roof We are specialists in many types of insurance [...]

Landlord cover with public liability2020-05-14T16:14:30+00:00
29 06, 2019

Residential Landlords Insurance

2020-05-15T15:10:14+00:00

Residential Landlords Insurance All landlords know that they have responsibility for insuring their building and anything they own within the building. Tenants should have contents insurance for their own possessions which are in the building – but they are not responsible for insuring the building itself. While these roles are clear to many people, there is often confusion about what insurance cover residential landlords need. Here is a quick guide to the policies which are provided by Property Insurance Centre who are experts in Residential Landlords Insurance based in London and Northern Ireland. What is covered with our landlord insurance? As a basic residential landlord’s insurance must cover any potential damage to the building itself such as a flood (depending on the location and flood history of the area) or a fire. This is similar to normal household insurance but a normal household insurance policy would be invalid if [...]

Residential Landlords Insurance2020-05-15T15:10:14+00:00
Load More Posts