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An empty property needs unoccupied property insurance

Article by Richard Burgess









There may well be times when, as a landlord, your property may be empty and you may need to think about unoccupied property insurance.

Even if you have landlords cover already in place, you may find that this may not provide protection for your property if it lies empty for periods of 30 days or more. This is because the risks to your property change when there is no one living in it.

The presence of tenants in your property may help deter opportunistic thieves or vandals. They may typically also be depended on to report any faults or damage to you, which can then be put right promptly, thereby preventing further and possibly more severe damage.

The reason why your property is empty does not really matter:

• you may be about to carry out major refurbishment or repair;• perhaps work already under way by builders has been delayed;• you may be experiencing problems finding new tenants; • perhaps your new tenants have been delayed.

The important factor is that the property is unoccupied.

Nor is unoccupied property insurance just a requirement for landlords. Owner occupiers may also require it if they:

• are away from home on an extended holiday or business trip;• have a property that is under probate;• have inherited a property that is surplus to requirements and is on the market or awaiting finalisation of sale contracts etc.

The terms and conditions attached to unoccupied property insurance policies may differ to those for standard landlords cover.

You may, for example, be required to:

• keep the garden, if you have one; tidy with the grass cut, have builders rubbish cleared away and so on, as these can be tell tale signs of a property being empty;• make sure that your property is well and regularly maintained thereby helping to nip potential and possibly more severe problems in the bud;• keep a log of the dates of visits and the work carried out;• arrange for lights to automatically light up windows as darkness falls;• ensure that heating and water systems are drained down to help reduce the risks of water damage to your property.

You may or may not have control over whether your buy to let property is going to be empty or for how long. What you do have though is the means, through unoccupied property insurance, to ensure that your property has cover adequate to provide you with the financial protection you expect.



About the Author

Richard Burgess is Director of cover4letproperty (http://www.cover4letproperty.co.uk) a dedicated UK landlord insurance broker. Their easy to use site and friendly staff will get you multiple quotes from specialist insurers for landlords insurance at a competitive price.










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Why Your Business Needs Public Liability Insurance

Article by Dawie Bester









If you are a tradesperson or someone who operates a business where customers or visitors either enter your premises or you have to travel to your customers’ locations to execute your work, then you would need to have a public liability insurance policy. As the name implies, public liability insurance is an insurance policy that a tradesperson or business owner would purchase to protect a business from liability for injury or damage that could occur to other people or property, such as those occurring on your business property, or at the client’s establishment where you are conducting business. Basically, where clients and businesspeople are interacting, public liability insurance covers any possible damage or injury that can occur to people or property during the conducting of business or work.

If you own, or plan on owning a business in the future, one thing that will be extremely important is public liability insurance. What this means is that, if your business is responsible for injuring a third party, or is responsible for some type of damage to their surroundings wherever they may be, public liability insurance will protect them and cover them from any type of legal prosecution that they may be faced with. Without this insurance there as a safety net to handle any financial losses due to damages, you may be faced with paying out more then you can afford, at which point you’re basically out of business. If you want to avoid that from happening then you should make sure you have this very important insurance.

A number of businesses today are opting for public liability schemes despite the presence of some other type of business cover. However, you might already be covered by the public liability scheme as part of your existing business insurance. If you already have a public liability cover or you are planning to get one for your business, there are certain factors that you should keep in mind.

First and foremost, you should make sure that the public liability insurance you have opted for cater well to your business needs, depending upon the nature of business. You also need to estimate whether the existing cover is sufficient for your needs or if you need an extra coverage for protecting your business against other odds. You should also make sure that you are well aware of the terms and conditions of the insurance, so that you know what is covered under the policy and what is not. This would not only save you hassles later, but also ensure that you get an insurance cover for the aspects that were not covered in your earlier policy.

For any kind of business, you should make sure that you have all the insurance that is required. Firstly, you should understand the key points for the different types of insurance, and make sure that you have adequate public liability insurance, so that you can cover all the insurance required, if the business undergoes financial losses, or accidents that occur as a result of injury to a person or damage of the property.



About the Author

Discover how you can get cheap public liability insurance in South Africa by visiting business insurance South Africa.










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Rental Properties Insurance Needs to Have Coverage for Loss of Earnings

Article by Matt Dhaliwal









Are you able to Save Money On Rental Properties Insurance by Not Acquiring Loss of Rent? A lot of people wrongly assume that they can lower their charges with rental properties insurance if they do not take coverage for loss of revenue. They may possibly indeed pay a bit bit much less, but the value of this coverage kind is enormous. It really is actually worth to pay some further pennies for ensuring your economic stability in situation you lose your rental income. When Is Rental Properties Insurance with Loss of Rent Coverage Required You may be relaxed understanding which you already have rental properties insurance and that what ever may well go incorrect is beneath cover. This may be correct, but in case you do not also have coverage for loss of income, you may find yourself in financial difficulty. Picture which you personal four condos in an apartment building. A fire takes place in a single of them due to the fact the tenants weren’t paying interest to what they had been cooking. The firemen arrive inside a matter of minutes, tenants usually are not hurt, but the fire needs to be ended. The result is the fact that the firemen use water for carrying out this and in addition to damage from fire, you will also have damage from water. You won’t be concerned an excessive amount of because insurance is going to pay for the repairs. This may well be genuine, but repairs are not made inside a blink of an eye. You will need time to locate contractors and to acquire constructing permits and you also depend on climate. Typically the repairs are going to take at the least two months. They’re able to even final half a year or more. Regrettably, tenants cannot reside in your condos anymore and also you will not obtain any cash until the creating is completed. You’ll need to find new tenants as well as even though the developing may look excellent, the six or much more months with out rental revenue may have been devastating for you. If you have to pay mortgage, the bank is not thinking about the truth that you just have lost your earnings. Getting coverage for loss of rent can avert this from taking place. In case something happens to your property, you may acquire your typical revenue from the insurance company until the repairs are carried out. This would be a great relief. How you can Really Save Income on Rental Properties Insurance You don’t must quit on correct coverage to be able to save funds on rental properties insurance. The premium that you need to pay is strongly connected with how risky your properties are. You’ll find insurance firms specialized in high danger properties. These may possibly offer you better rates than other people. However, ensure you go into company having a respected insurance business. You can even save money on rental properties insurance in the event you lower the danger connected along with your property. You can do this by installing security devices, smoke detectors; alarms, sprinkles, etc. Do not neglect the significance of fire escape locations. Small particulars can make massive variations with regards to insurance premiums. Also keep in mind that the more claims you file, the higher your premium will probably be. Don’t file claims for little issues that may be easily paid from the pocket. Ask your agent about more suggestions on lowering the cost of rental properties insurance.



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