Archives for Landlord Insurance

Covid-19 Insurer Update

Covid-19 Insurer Update for XL Insurance Company SE (AxaXL) – Property Owners (IPOA Scheme) – Policyholders with policy number prefix – BS0432-POI-xxxx ‘via S.A. Faughnan (Brokers) Ltd.’   Businesses and Property Owners are now facing unprecedented challenges posed by measures to counter Coronavirus (Covid-19) as many premises are temporarily closed due to public health quarantines. It is our intention for situations where insured buildings are temporarily closed solely due to the Covid-19 outbreak, that any Unoccupied Building Conditions in your AxaXL policy(ies) will not apply and no additional premium or amended terms will apply until 31st May 2020. If Covid-19
Read More

Categories: Landlord Insurance and Uncategorized.

Commercial (Real Estate) Property Owner Insurance

  If you own commercial property, you need to ensure that it is adequately covered with a comprehensive and competitive property insurance package. Commercial Property Insurance protects your organisation against physical damage to, or loss of, your property assets. In the case of catastrophes like fire, explosion, theft, or vandalism, Property Insurance helps cover the costs of repairing or replacing damaged business property to allow your organisation to continue to function as normal. Whether you are a freeholder, leaseholder, mortgagee or owner, your premises represent a substantial investment that should be adequately protected. A Commercial Property Insurance policy will help you
Read More

Categories: Landlord Insurance and Uncategorized.

10 Key Property Owners Insurance Covers

  A Property Owners policy is designed to meet the insurance needs of a range of Property Owners involved in Residential, Commercial or Industrial investment property risks. The key areas of cover required for investment property include the following: Material Property Damage The buildings sum insured should be equal to the cost of rebuilding the property from scratch if it is completely destroyed.  (You should allow for the cost of debris removal as well as architect and surveyors fees and other planning & development fees) This is known as the reinstatement value. Note:  This is not the same as the
Read More

Categories: Landlord Insurance and Uncategorized.

Get The Most From Your Rental / Investment Property Insurance Policy – 10 Tips!

  If your entire property is / has been unoccupied for whatever reason for over 30 days make sure you notify your insurer / broker now. If your property is undergoing renovation / structural alteration other than routine casual maintenance & repairs, notify your insurer/ broker now with details. If the tenancy of your property has changed from that which is noted on your policy document / renewal notice, make changes to your policy now! It is your duty to notify them! If you have not notified your insurer of any non-standard flat roof section to your property, do so
Read More

Categories: Landlord Insurance and Uncategorized.

Property Owners’ Insurance – Reinstatement Valuations – How do I calculate the re-build costs?

    Buildings are an asset and like any asset should be adequately protected. A property reinstatement valuation assesses the cost of reinstating the property to its original condition in the event of total destruction. It is extremely important to note that the market value of the property and the reinstatement valuation of the property are in no way linked. The reinstatement valuation should typically include the following:     The reinstatement valuation should be carried out by a chartered quantity surveyor who has experience in the type of building sector that the reinstatement valuation is being calculated on. The
Read More

Categories: Landlord Insurance and Uncategorized.

Advice and Tips On Arranging Proper Landlord Insurance

It is vitally important to arrange the right insurance cover for your investment property as the insurance risks associated with letting residential investment properties can be very high and are completely different to that of owner occupied risks. Some landlords are arranging a normal household ‘landlord’ policy which is far from adequate. An investment property requires specific investment / buy to let All Risks insurance. At all times make sure that the insurance company in question knows that the property is rented to tenants. When requesting a quotation for your property, the following covers need to be included: Buildings Cover
Read More

Categories: Landlord Insurance.

House in Flats Insurance – Landlords & Property Owners

Going back as far as the 1960’s and beyond, large residential properties had been converted by investors or traditional Landlords into ‘flats’ or ‘bedsits’ across Ireland’s cities and towns. Many of these properties which had already been in multiple residential units (tenement or other) prior to the passing of the Local Government (Planning and Development) Act 1963, were exempted from having to comply with these new planning regulations, hence the term now used, ‘pre-63’ buildings. Successive ‘Housing Standards’ regulations have been passed and subsequently implemented in the main across the country, thereafter being policed by local authorities and city councils
Read More

Categories: First Time Landlord and Landlord Insurance.