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Nigel A Adams

Its serious, when it goes legal!

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If a writ arrives on your doorstep, you can’t just bury your head in the sand.

When you own property, the major concerns are dealt with by the cover for physical damage, loss of rental income and liability for injury or damage. We’ve ticked those boxes, so what next?

There are of course other events which can cause concern as a landlord.  They can result in substantial cost, because taking legal action or defending it, is never cheap. It could run into tens of thousands of pounds.

These also need consideration and insurance cover.

A landlords legal expenses policy can cover the cost associated with most of them, whilst also removing the anxiety about unknown events, #becauseaccidentshappen to nice people all the time.

Here are a few of them:

  • Breach of tenancy agreements
  • Pursuit of rent arrears
  • Eviction of tenants
  • Legal defences
  • Rent guarantees
  • Boundary issues
  • Legal advice

You can call the helpline 24 hours a day and discuss any matter that might be affecting you or your tenants. You will have peace of mind that a specialist team of lawyers will deal with these matters Immediately on your behalf.

You are never on your own.

 

Various Buildings

Property Owners and Landlords take note!

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One of the simplest package policies on the market is for property owners, sometimes called landlords insurance. Everything you need in one policy. So, what is included and what is left out?

To start with you want to protect the physical structure of the building and this is done by providing cover for a specific range of “perils” such as:

  • Fire
  • Lightning
  • Aircraft
  • Explosion
  • Earthquake
  • Storm or Flood
  • Theft or attempted Theft
  • Impact
  • Escape of Water
  • Riots
  • Malicious Damage

Even with these covers there are exclusions, so it is vital you read the wording in detail #becauseaccidentshappen, to nice people all the time.

Cover is also available for “other” accidental damage, as well as subsidence, ground heave and landslip, but these are usually options, so check the detail.

Standard exclusions include: War, Radioactive contamination, Sonic Bangs, Changes in Water Table, Electronic Risks, Wear and Tear, deterioration, and any gradually operating cause.

Cover can be restricted for unoccupied property, or in the course of renovation, sale or repair.

Land for development can be covered, but for liability only.

More on property owners liabilities, business interruption and legal expenses this week.