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Top Tips For Getting The Right Property and Land Insurance

Posted by The Landsite on 25th July 2020 -

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Getting the right property and land insurance often seems like a daunting task. There are so many options, so many providers, how are you meant to know if you’re getting a good deal and the right protection?

Well, we can help you there. Here are our top 3 tips for getting the right property and land insurance;

1.   Look at all the different types of insurance

There are quite a few options out there, so getting the right property and land insurance policy might be tough.

The essential one is buildings and contents, but that might tie into a business or life insurance policy. And because of that, do you want to include critical illness cover? Think about Mortgage Payment Protection Insurance (MPPI) and Illness Protection too!

Don’t make any decisions about these until you really understand what each of these do and whether you need them. Use reputable sources like the Money Advice Service to make sure you get the right answers.

2.            Think about the things you might need to claim for

You really need to consider what you’ll be claiming for on your insurance.

For example, leaking water pipes are the most common claim for most properties - even commercial ones. These are not usually covered unless ‘accidental’, and you’ll need a ‘trace and access’ extension to determine the source of the leak at no extra course.

There are other extensions you can cover too - legal cost cover is essential if you’re going to be acting as a landlord. Can help you keep going during disputes over tenancy and evictions

3.         Talk to an Expert

It can be tempting to go it alone and use one of those comparison sites. But still, the best way to make sure you’re getting the right property and land insurance is to go straight to an insurance broker.

They know what’s out there, can assess what you need and (even better) they handle the process for you. This means you can focus on other parts of your business safe in the knowledge that you’re property and your organisation is protected.

 

Further Reading 

Are you interested in investing in commercial property?  Read more here Where To Start? The Property Professionals Who Can Help You Invest In Commercial Spaces

 

Building connections in the construction Industry? Read here for more infomation on Building Connections 

 

 

 

 

 


Tracey Turner

The online destination for property developers and investors.

Link to The Landsite business profile

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