British Insurance New Products – Home, Landlord, Unoccupied Property policies
(PRWEB) January 30, 2011
Alongside PPI cover, the firm now has policies for people with overseas and UK holiday/second homes, unoccupied properties, those requiring standalone home emergency support and landlords.
British Insurance says its new-look portfolio offers extensive cover and support services, something other providers often charge extra for. For example, there’s a ‘pass the phone’ multi-lingual interpretation service offering 24/7 English-speaking support for overseas home-owners.
People left with the responsibility of managing empty properties on behalf of relatives have much-needed flexibility with the option of three, six, nine or 12 month insurance periods for unoccupied property insurance cover
Those with home emergency cover insurance can be reassured of a response within two hours* to heating system or electrical failures and a team is also on hand to unblock drains, source and repair internal leaks and replace locks and glazing where necessary. Our home emergency cover helps take the stress out of home emergencies by covering important areas of your home against the cost of unexpected emergencies.
The landlord insurance policy covers usual risks – storm, flood, theft, malicious damage, loss of rental income, periods of vacancy, property owners’ liability, leak tracing and access, replacement locks etc, plus offers legal support and accidental damage.
British Insurance has always advocated consumers should easily be able to source and buy any type of insurance and have access to information that allows them to make an informed decision prior to purchase.
Managing Director, Nel Mooy, comments: “BI has a reputation as a reliable, trustworthy, no-nonsense provider of good-value products. As part of the Towergate Partnership, we’re able to offer additional affordable insurance policies and, we feel well placed to tap into our loyal and satisfied customer base.”
She concludes: “Insurers must make their policies easy to understand, accessible and affordable – these latest low-cost additions underline our commitment to do this on a wider scale.”
To view the product range visit http://www.britishinsurance.com
Significance of unoccupied insuranceMaking your unoccupied insurance rates less expensive
Unoccupied houses pose extra risks than houses that are regularly used by owners. For instance, broken pipes can cause extensive water damage because there was no one to keep track of the plumbing. Neighborhood vandals and thieves are also more likely to target homes that they deem unoccupied.
The amount of risks posed by the vacant property not just can make unoccupied insurance difficult to find, it also appears at a very expensive price also. It is not shocking to locate unoccupied insurance quotes at inflated prices, because insurance firms identify the truth that homeowners are more likely to make claims due to the high degree of risk of unoccupied homes.
Thankfully, there are steps that you can consider in order to make your unoccupied insurance a lot more affordable.
The key to making the price of unoccupied insurance slightly much more affordable is to show to insurance companies that it is not that danger to provide protection for it. Fitting safety features, like burglar alarms and locks on doors and windows can already lower the price of this sort of house insurance plan
Unoccupied insurance offers are the answer for landlords or owners who are in desperate requirement of help to include the harms in their property in the period that it is unoccupied. This can undoubtedly be this type of advantage for people that have properties that they are just vacating for a period of time, such as; empty homes, properties that at present on sale, etc. This insurance policy can cover for the damages where risks are higher compared to the normal unoccupied insurance deals like properties insurance, business property insurance, etc. When a property is unoccupied, usually it will be unsafe and it would lure in unlawful migrants that will lead to the devastation of your home as much. Theft, accidents and the chances of natural calamities like floods, hurricanes, earthquakes, etc should also be considered with regards to your unoccupied properties. This is why insurance plans for unoccupied properties had seemed to be really useful for individuals in these conditions.It is essential to obtain unoccupied insurance therefore your home is protected while you are aside from the home. So if something had happened to your home, while you were aside you will be safe from spending anything towards damages that might have been triggered to the unoccupied home. Therefore, it is essential to get unoccupied insurance.To get a lower rate on unoccupied insurance you need to safe your property. This will reduce your monthly premium by getting extra protection to your home; many insurance firms are more likely to provide a discount this way. Most of them provide a 20% discount. They will usually need to pre-approve the safety process before giving the reduction. This will also make the property much less risky Do your study – The key point is to get many insurance quotations and search for online for different insurance companies that offer different plans. You should be aiming to get a minimum of
Why-you-should-get let-property-insuranceIf you are looking to proceed into the world of buy to let property, as a landlord then knowing your place related to let property insurance Bradford could be an excellent option.
The conclusion may normally be that even if you simply rent out a single room in your own property, then you may require let property insurance Bradford instead of possessor-occupier insurance plan.
The reason for this is simple enough. If you have residents in your home then the risks to the property and to the residents themselves are really different to those of a possessor occupied property.
Buildings insurance
Lots can occur to your valuable bricks and mortar. Covering against destruction from floods, earthquakes, storms, fire and identical damage may be a sensible action.
Actually, if you have a mortgage on a buy to let property, having bought to let property insurance Bradford may be one of the terms of services of the mortgage by itself.
One of the main considerations of buildings and let property insurance Bradford is the worth you place on the building itself. Obtaining this number as correct as possible is clearly necessary.
From an insurance approach, this figure is the sum it would charge to rebuild the building if it were completely demolished. This might be more or less than the sum of money that you paid for it, thus obtaining a professional value might be a good idea if you are unclear.
Public liability and let property insurance Bradford
If someone is injured on your assets or their belongings are ruined, then they may prosecute you for harms. Public liability insurance plan is what defends you monetarily against this (up to set limits). It might incorporate legitimate costs too and typically comes as part of landlords property insurance plan – but do examine when searching for insurance.
Unoccupied asset
The definition of an unoccupied property can possibly vary from insurance service provider to provider but for many, it denotes to a property that is empty for more than 30 consecutive days. For let properties, this can happen more usual than you would think about:
When a property is vacant, it may be more of an objective for thieves or vandals. Unlit windows and an overgrown garden may be very evident clues of an empty home and behave like a magnet for thieves.
Also, any issue, a leaking pipe for instance, is possibly to do much destruction (and cost more to repair) if it goes unnoticed for a long period of time.
You might need to notify your let property insurance company if your property belongs into the unoccupied type. Otherwise, your owner insurance cover may turn into fake.
Contents and let property insurance Bradford
The landlords contents cover you need will be figured out to a certain level by whether or not your let property is furnished or unfurnished. Once again, it is important to be as appropriate as possible when talking about valuing your contents.
If you are depending on your let property for your living or at the least part of it, then making sure that your let property insurance Bradford gives great cover may be wise.
About the Author
The author is a insurance professional and expert.He is currently working in Quoteus Insurance a leading insurance broker in UK providing quotes for unoccupied insurance,Let property insurance,insurance Bradford.
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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.
Most insurance companies will ask the question at application stage,as whether you intend to leave your property unoccupied for more than 30 days.After 30 days of an empty property,most insurers will not cover a claim after the 30 days have expired.However some insurance companies will allow 60 days for unoccupied,if you are not sure check with your insurer.If you are certain that you will not be resident in your home for more than 30-60 days,you will have to consider taking out specialist insurance for unoccupied home insurance.There are specialist insurers that will offer specific cover for this type of cover.It might be wise to seek professional advice and again there are specialist brokers that can do this for you.There are many examples of when you may require vacant property insurance.It could be that you are getting divorced and the house has been left empty,you could have inherited a property from a deceased relative and nobody is resident,you may have moved away to take another job and left your home vacant.These are some examples of why you may require this type of insurance cover,there are many others.Please also remember to inform postal and utility providers that you are no longer present at the house.You do not want mail mounting up,which could lead to criminals becoming aware the property is empty.Make sure if the property is alarmed,that the alarm is in full working order.Finally if you are unable to make regular checks on the property,ask someone you trust to check the property on a regular basis.When taking out unoccupied house insurance,remember to ask questions if you are unsure of anything on the policy.Check any exclusions and any excess that may be deducted in event of a claim.In other words fully understand what you are covered for and what you are not.If you take all of the above actions,you will ensure that in the event of a claim,you will have the correct cover and provided the risk is covered,you will be confident of making a claim if the need arises.Looking to insure your house whilst it is unoccupied,Michael Markey offers general advice as well as competitive insurance deals for vacant house insurance.
About the Author
Michael Markey provides advice and tips on specialist insurance needs.http;//www.specialistinsuranceuk.com
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