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"I'd just renovated my 4th property, Primo plc arranged everything so efficiently."

At Primo plc, we like all our clients to feel this way

Property Owner Insurance

Property Owners and Vacant Property Insurance

We can arrange a varied number of covers to ensure you get the correct insurance solutions for your commercial, residential or mixed properties.

Arranged by Primo

Required Insurance

Property owners insurance in the UK, commonly known as landlord insurance, provides vital protection for individuals who own and rent out properties.

This type of insurance typically covers the structure of the building itself, along with any fixtures and fittings. It also often includes coverage for loss of rental income if the property becomes uninhabitable due to a covered event, such as a fire or flood.

Property owners' insurance can also provide liability coverage in case someone is injured on the property and holds the landlord responsible.

A critical aspect of property owners' insurance is understanding the different levels of coverage available. Basic policies may cover standard perils like fire, theft, and vandalism.

At the same time, more comprehensive policies may include coverage for accidental damage, legal expenses, and alternative accommodation costs for tenants if they need to vacate the property temporarily.

Landlords should carefully assess their needs and risks to determine the most suitable level of coverage for their properties, whether they own a single rental unit or manage a portfolio of properties.

Public Liability Insurance

In the UK, property owners' public liability insurance is a crucial component of landlord insurance that protects property owners from financial losses due to claims made by third parties for bodily injury or property damage that occurs on their rental properties.

This type of insurance covers legal fees, compensation payments, and other expenses arising from such claims.

Consider this scenario: a tenant or visitor slips on a wet floor in a rental property and sustains injuries. They decide to file a claim against the property owner, alleging negligence.

In such a situation, public liability insurance would step in to cover the costs of defending against the claim in court and any compensation awarded if the property owner is found liable. This example underscores the practical value of public liability insurance in real-life situations.

Public liability insurance is not just a safety measure, but a necessity for property owners. Accidents can happen unexpectedly, and the costs associated with legal claims and compensation can be significant.

That's why it's crucial for landlords to take the proactive role and review their insurance policies carefully. This ensures they have adequate public liability coverage based on the size of their property portfolio and potential risks associated with their properties.

By doing so, they are not just protecting their properties but also their financial future, empowering them to be in control of their risk management.

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Your assigned broker is happy to answer your concerns.
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We ensure obtaining your insurance is straightforward.
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Correctly covering your business grants you great peace of mind.

Property Owners Insurance FAQ: Protect Your Rental Investment and Minimise Risks | Primo

  • What is Property Owners Insurance?

    Property Owners Insurance is a type of insurance policy designed to protect landlords and property owners against financial losses related to their rental properties. It provides coverage for various risks such as property damage, liability claims, and loss of rental income.
  • Do I need Property Owners Insurance if I rent out my property?

    Yes, Property Owners Insurance is essential for landlords renting out their properties. It helps protect your investment by covering damages to the building, legal expenses for liability claims, and loss of rental income due to covered perils.
  • What does Property Owners Insurance typically cover?

    Property Owners Insurance covers a range of risks including building damage (e.g., fire, flood, storm damage), landlord liability for injuries or property damage to tenants or visitors, loss of rental income due to property damage, and legal expenses for disputes.
  • Property Owners Insurance mandatory in the UK?

    While Property Owners Insurance is not legally required by UK law, mortgage lenders often require it as a condition for lending on buy-to-let properties. Even without a mortgage, it's highly recommended to protect your investment and mitigate financial risks.
  • How is the rebuild cost of my property determined for insurance purposes?

    The rebuild cost is the amount needed to rebuild your property if it's completely destroyed. Insurers typically use valuation surveys, construction costs, square footage, and other factors to estimate the rebuild cost accurately.
  • Can Property Owners Insurance cover contents inside the rental property?

    Yes, some Property Owners Insurance policies offer optional coverage for contents such as furniture, appliances, and fixtures within the rental property. This can be beneficial for furnished properties or landlords providing appliances.
  • What is Loss of Rent Insurance?

    Loss of Rent Insurance, often included in Property Owners Insurance, covers the loss of rental income if your property becomes uninhabitable due to insured perils (e.g., fire, flood). It helps cover mortgage payments and ongoing expenses during repairs.
  • Are tenants' belongings covered under Property Owners Insurance?

    No, tenants' personal belongings are not typically covered under Property Owners Insurance. Tenants are responsible for obtaining their own contents insurance to protect their possessions.
  • Can I get liability coverage for injury claims from tenants or visitors?

    Yes, Property Owners Insurance includes liability coverage for injuries or property damage claims made by tenants, visitors, or third parties on your property. It helps cover legal expenses and compensation costs.
  • How can I lower the cost of Property Owners Insurance premiums?

    You can lower insurance premiums by maintaining a well-maintained property with safety features (e.g., smoke alarms, secure locks), choosing a higher excess/deductible, bundling insurance policies, and comparing quotes from different insurers.

Help with choosing the right cover options for your business

Below you will find cover options you may need to correctly cover your business. It is just a selection and as always we advise speaking to a broker to obtain the best advice possible.

Business Interruption

If you rely on your business' income you should consider business interruption. If your business is unable to trade as normal, for example there is flooding and you are unable to get to your equipment at your premises, this cover will protect you against financial loss

Goods in Transit

Often the equipment you transport is quite expensive, and while your vehicle may have an excellent cover package it may not cover the replacement cost of your equipment, and you could find yourself out of pocket. It's worth checking with your insurance provider.
This cover can be useful for any business, either established or a new start-up. While public liability will cover you against your companies negligence should it occur, what cover protects you against the costs of defending against a claim that isn't or wasn't your fault?

Personal Accident and Assault

Personal accident and assault covers you financially should you be unable to work due to an injury.

Money and Banking

Provides cover up to a limit for loss of money held. Cash limits may vary from insurer to insurer so please speak to your broker as to any exclusions and the limits placed on your expected policy.
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