Property Owners Insurance

Property Owners Insurance

Property Owners Insurance for Property professionals whether you have a large portfolio of residential property under management, a mixed portfolio of residential and small commercial properties or just one property, Graham Sykes Insurance can provide a comprehensive solution.

Where there is a portfolio of commercial or mixed occupancy buildings, we are able to offer policies to fully cover your insurance needs.

Protecting your investment

Property owners insurance is a vital safeguard for landlords and property investors in the UK, offering comprehensive protection against a range of risks and potential financial losses. Here are several reasons why this type of insurance is essential.

Firstly, property owners insurance provides financial protection against damage to the building itself. This can include risks such as fire, floods, storms, and other natural disasters. Given the UK's unpredictable weather, these risks are significant. Repairing or rebuilding a property can be extremely costly, and without insurance, property owners would have to bear these expenses themselves, potentially leading to financial strain.

Secondly, property owners insurance covers loss of rental income. If a property becomes uninhabitable due to an insured event, such as a fire or severe flood, landlords can lose significant rental income during the repair period. Property owners insurance typically includes cover for loss of rent, ensuring that landlords can maintain their income stream even when their property is being restored.

Additionally, this insurance provides liability cover. Property owners can be held legally responsible if someone is injured on their premises. For example, if a tenant or visitor trips on a loose paving stone and suffers an injury, the property owner could face legal claims and medical expenses. Liability cover included in property owners insurance protects against these costs, providing financial security in potentially expensive legal situations.

Moreover, property owners insurance can include cover for malicious damage by tenants. Unfortunately, not all tenancies end amicably, and some tenants may intentionally damage the property. This cover ensures that landlords are not left out of pocket for repairs resulting from deliberate damage.

Property owners insurance also extends to cover against theft of fixtures and fittings. Items such as built-in appliances, boilers, and fitted wardrobes can be expensive to replace if stolen. Insurance ensures these costs are covered, protecting the owner's investment.