The insurance policies we arrange are clear about what you are insured for as the landlord:
- The cost of rebuilding the property in the event of it being destroyed
- Repairing damage to the building caused by such perils as fire, storm, water leakage, flood, vandalism and accidental damage
- The rental income you may lose while your building is being repaired or replaced. If a building is occupied by a resident, your insurer will pay for the cost of their temporary accommodation
- Legal liabilities to the public if they suffer a loss or an injury. Public liability insurance is included up to £5,000,000
- Employers liability if you are employing or using the services of anyone
- The cost of legal expenses incurred in owning the building
- Cover against acts of terrorism
The location, age and occupancy of your building will determine the cost of your premium. In addition, how it was constructed, when it was last electrically re-wired and details of any insurance claims at the property may also have a bearing on the policy.
There are some uses of a building that insurance companies do not like. Should you be unable to buy insurance because of what your tenant does, we have access to markets that will be able to help.
Many insurers do not like unoccupied properties because they are more susceptible to risks such as arson, vandalism and burst pipes. Provided the property is being managed, we are able to arrange suitable cover with insurers that many of our competitors do not use.
At Grosvenor we manage your claim from the first notification to the last settlement. Sometimes, if it is a large claim, your insurer will have appointed a loss adjuster to investigate and report. In such cases, we work closely with them to ensure your claim is settled quickly and fairly. Should you have purchased a Loss Recovery Service to act for you, we will work in conjunction with them, to make the experience as hassle-free as possible.