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Building Owners Insurance

Building Owners Insurance

Whether you’re a private property owner or a landlord, you will likely need building owners insurance if you own any type of building. For those who own a building with a mortgage, this will no doubt be a requirement of your lender. The type of insurance you need, however, will vary. It will depend on the type of building you own, and whether you are the occupant or the landlord. Which is why it’s essential to make sure you choose the right cover for your needs.

What Does Building Owners Insurance Cover?

Building owners insurance will differ dependent on need and level of risk. It will also vary depending on whether you are insuring a commercial or residential property. In general, however, both will cover the loss of damage to a property due to:

  • Fire
  • Explosion
  • Severe weather such as storms, floods, and earthquakes
  • Theft
  • Vandalism
  • Damage due to falling trees or vehicle collision
  • Subsidence

In addition, outer buildings such as garages and sheds, as well as fencing, may be covered.

Finding the Right Insurance for You

While some of what we’ve listed might seem unlikely to happen to your building, the fact that they’re included in an insurance policy means they probably have happened to someone at some point. Ignoring the need for insurance cover, then, could be costly. For landlords, it means their livelihoods are at risk. It’s important, therefore, to get the right insurance in place as quickly as possible.

To make sure this happens, contact Just Quote Me. Their highly trained team of insurance specialists will talk you through just what you need and get you the right policy at the right price. Fill out our Quick Quote Form or call our team on 0800 084 2325 to find out more and get a free insurance quote today.

Building Owners Insurance

Building Owners’ Insurance

If you own property then you want to make sure it is fully protected. Building owners’ insurance allows you to protect one or more buildings as long as they are not your place of residence.

Building Owners’ Insurance Vs Landlord Insurance

Landlord insurance is aimed at people who own rental properties. It provides protection against damage that might be caused by tenants or natural disasters. It also provides protection against unpaid rent. Building owners’ insurance can be used to insure buildings that are used for a range of purposes, including unoccupied properties.

The Key Benefits

If you own a portfolio of property, it would be a hassle to have a different policy for each building. With building owners’ insurance, you can insure all the buildings with one policy. As well as being easier, it also works out to be cheaper.

You can include liability insurance as part of your building owners’ insurance. This provides protection in case of injury to third parties. For example, if one of the buildings you own falls into disrepair, which causes injury to a member of the public. Your insurance would cover the legal fees associated with the incident.

If your properties are rented then you get the same protections as with landlord insurance. In the event that your tenants withhold payment, or if the property is temporarily uninhabitable, you will receive the same amount that you would have.

Included in this insurance is commercial cover for the buildings. This offers protection in the event of fire, arson, and break-ins.

In essence, this insurance offers you comprehensive cover for all the buildings you own in one simple policy.

Do you have questions about Building Owners’ Insurance?

Call Just Quote Me for FREE on 0800 084 2325 or get a quote online using our Quick Quote Form.