What is Property Insurance?
Property Insurance is an insurance policy that you can take out to protect any type of building against damage or destruction. It can also be tailored to include the contents as well as other aspects such as liability insurance.
A good buildings insurance will pay out to cover the cost of repairing or rebuilding your premises. Although a property insurance is not required by law, it is unlikely you will get a mortgage for or a loan against the property if a suitable insurance policy is not in place.
What types of property insurance do we do?
We can find insurance for all types of property. Below are the most common types of property cover we find.
Commercial Property Insurance
Commercial property insurance is a blanket term for an insurance policy used to protect a property that is used for commercial gain. It can include anything from an industrial unit to a hair salon.
A landlord insurance policy is for a property owner who does not operate from the premises that is being insurance. There are 2 types of landlord cover, that is residential landlord insurance and commercial landlord insurance.
HMO Insurance, short for ‘House in Multiple Occupation’ is for landlords that need to insure a property where multiple occupants sharing communal areas live. This can be student living accommodation or house shares.
Block of Flats Insurance
Block of flats insurance is designed for landlords to be able to protect a premises where individual accommodation can be found that are separate and don’t share any communal space apart from maybe a hall way or stair well.
Unoccupied Property Insurance
Unoccupied property insurance is specifically designed to cover buildings that are empty. Even when empty buildings are still prone to damage or loss. Landlords that own empty buildings should strongly consider unoccupied property cover to ensure their property against loss.