The property owning and management sectors are faced with numerous ever evolving business risks ranging from diverse property perils such as floods through to fires through to the complexities of a variety of tenants. Whether you are a small residents association or a large scale property developer, risks still exist and you need the peace of mind that comes with knowing that you have an insurance and risk management programme that meets your needs and protects your interests.
Insurance for the Property owning and management sectors now
Recent times have seen property values drop and a greater volume of properties rendered unoccupied. Due to their own diminishing investment income insurers are less inclined to offer low insurance rates unless convinced of the low risk that a property poses. That said, in 2009 the insurance market remains competitive but signs of an upturn in insurance rates are being seen. Working with Belmont International to develop long term insurer relationships is an advisable defence against what may come.
Warning!!!!
At present one of the greatest problems in property is underinsurance. Surveys carried out by a variety of organisations, ranging from surveyors to insurers, have uncovered alarmingly high percentages of properties that are underinsured resulting in claims falling short of full reinstatement.
Types of insurance for Property Owners and Managers
Although we provide a bespoke service to all of our clients, below are examples of the types of cover that could be included within your property business insurance package:
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Property Damage
- Rent and Income Protection
- Engineering Inspections and Insurance for lifts and boilers
- Public and Property Owners Liability
- Environmental Impairment Costs
- Construction Projects
- Directors and Officers Liability