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Information |
Landlords will able to join a group landlord insurance scheme by calling 0800 917 3324 (Insurance Department....press 3) Landlord Insurance Quotes Clients of Landlord Mortgages can arrange cover for Landlord Buildings Insurance and/or Landlord Contents Insurance at any time. You will join a collective scheme called a Landlord Insurance Group Scheme. The group scheme runs from October 1st 2006 to September 30th 2007 Don't forget you can join the insurance scheme at anytime. Landlord Mortgages Ltd are authorised and regulated by the Financial Services Authority. The Protection the landlord insurance policy can provide :- • ‘All risks’ of material loss or damage in respect of building and/or contents. •
The facility to include occupation by students and Housing Benefit tenants at no extra charge. (Asylum seeker and DSS or
Local Authority referrals must be dealt with separately). •
Cover for costs of rehousing a tenant, up to 10% of the building sum insured, following insured damage to the property. • Loss of rent cover for up to 12 months to a maximum of 20% of the buildings sum insured, again following insured damage to the property. • Property Owners’ Liability cover up to £5,000,000 indemnity any one incident. N.B. In respect of terrorism the limit of indemnity will be restricted to £2,000,000. • Employers’ Liability cover up to £10,000,000 indemnity any one incident for cleaners, gardeners, caretakers, and persons doing minor maintenance and repairs. NB. In respect of terrorism the limit of indemnity will be restricted to £5,000,000. • Up to 90 days’ cover between lets for unoccupied properties subject to certain precautions, i.e. weekly visits; disconnection of mains services (including drainage of water systems from October to March inclusive) unless left on for heating or security purposes; doors locked and windows and other openings securely closed. Your Duty to Give Information • You must disclose all material facts that may influence an underwriters’ acceptance of your insurance cover. Failure to do so may prejudice any claim. This is only a summary of the main cover points. For full details ask for sight of the policy document, or ring for information. Principal Policy Exclusions • The first £250 of each and every claim for loss or damage (increased to £1000 for subsidence or malicious damage by the tenant). • The policy wording incorporates provisions which exclude material loss or damage caused by Acts of Terrorism. Full details of the policy wording are available on request. Additional terrorism insurance cover is available for a premium charge. Contact Landlord Mortgages for details on 0118 377 4692. •
Unoccupied properties will not be covered for more than 60 days from being first insured or for more than 90 days between
lets (without specific agreement). • General maintenance, wear and tear. For full details ask for cover exclusions ask for sight of the policy document, or ring for information. Money Back Guarantee • We are so confident that the cover we offer under this arrangement is amongst the best available that we allow you time to check it thoroughly to make sure it meets your requirements. In the unlikely event that you are dissatisfied with the insurance, you may return the policy to us within 14 days of receiving it and, provided you have not made a claim, we will refund your premium in full. |
Costs •
A very competitive rate of £1.83 per £1,000 of cover for
residential buildings (increased to £2.30 in certain postcode areas). •
Individual quotes given for commercial and part commercial
properties. • Contents of rented property can be covered at a rate of £6.00 per £1,000 but with theft cover following forcible entry only. No minimum sum insured if buildings cover taken through Landlord Mortgages. If buildings cover is not taken, a minimum sum insured of £10,000 applies. •
Buildings cover for residential properties can also be provided
at the above rate. Please note contents cover cannot be provided for
residential properties. •
A minimum sum insured of £50,000 applies for all buildings
policies. • No increase in premium for non-standard construction (except thatch or timber-built). Discounts If you choose an excess of £500 a discount of £0.10 per £1,000 applies. If you choose an excess of £1,000 a discount of £0.20 per £1,000 applies. If your total sum insured exceeds £1 Million an overall discount will apply. A further discount will also apply if your portfolio value figure exceeds £3 Million. If, at any time, your sum insured reduces below £1 Million or £3 Million respectively, the discount will no longer apply. Please note: All premium rates include Insurance Premium Tax (IPT) (which is not recoverable). The current rate is 5.0%. General • Any sign of cracking which may suggest subsidence damage should be declared prior to cover to prevent any misunderstanding as to when such damage may have originated. •
All sums insured are index linked to keep pace with inflation -
but it is your duty to ensure that you cover the property for the full
rebuild value otherwise under insurance deductions will apply in the event of a claim. • The interest of any Bank, Building Society or other lender can be noted and any special requirements can usually be met (e.g. completing forms, etc). • There are options to include Legal Expenses. Rent Guarantee or Home Emergency Cover. Please enquire for futher details. • Full details of the services that we offer and conditions under which we trade are contained within the Combined Initial Disclosure Document which will be forwarded to you with your policy documentation or a written quotation. • It is recommended that oil filled radiators and electric fan or convector heaters are the only forms of portable heating used. • Where a communal kitchen is available, it is not recommended to allow cooking in individual’s room without a Fire Officer’s written approval. Period of cover • The period of cover will run to a renewal date of 1st October 2007 for all clients and will be renewable on an annual basis thereafter. Van Insurance Landlord Insurance Landlords Insurance motorbike insurance indemnity insurance motorcycle insurance motorbike insurance Landlord Mortgages mortgage protection landlord online Contact: Landlord Insurance Address: Cyberhouse, Molly Millars Lane, Wokingham, Berkshire, RG41 2PX Telephone: 0800 917 3324 Fax: 0118 978 6748 |
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