To find appropriate property owners insurance cover can be a nightmare, we are well aware of what a difficult task it can be making sure you are covered for every eventuality and it can often be very nerve wracking knowing what is right and what is wrong. With everything being managed online these days it is difficult to get the answers you are looking for, especially if your property does not fit within the confines of what is considered "normal". However, by not finding out if you are appropriately covered can potentially be disastrous.
If you own a property that is being let, or your property is being used for any commercial purposes then a simple homeowners policy will not be suitable.
There are several differences between these policies and homeowners policies. For example a policy for a commercial property will provide much higher levels of cover and include extensions for loss of rental income and your trading liabilities.
Most policies will include, or give good consideration to:
Public Liability or Property Owners Liability
Loss of Rental Income
It may be a good idea to consider:
Legal Expenses Cover
Buildings insurance covers against most things that can cause damage, or loss to the building or permanent fixtures within the building. This includes things like severe weather, theft/vandalism, fire, where extended subsidence cover can be included, for occupied properties you can expect covers for burst or damaged pipes, water leakage, and usually most contracts cover impact from falling trees, aerials, vehicles, or other objects.
Contents insurance covers any possessions while in the property for loss or damage for a range of specified perils, with the exception sometimes of malicious damage by the tenants themselves. Possessions refers to