property owners facilities
We have arranged bespoke policy wordings to suit the needs of our property owning clients. The aim is to provide insurance solutions tailored to the requirements of the individual client portfolio, to ensure that the widest cover is provided at a reasonable cost. This ensures that your most important assets are protected.
You could benefit from a facility which is designed for the commercial property owner (but can be adapted to the owners of the private residential properties), that has been enhanced as a result of the buying power of an insured portfolio with total sums insured in excess of £6 billion.
The main features of the facilities are detailed below.
Property Owners Policy
Cover - Full loss or damage including theft damage, glass and subsidence.
Excess - Negotiable
Sections of Cover Available
- Buildings - Provided as standard
- Loss of rent - Provided as standard with a three year indemnity period, but extensions or reductions to this period are available
- Public Liability - Provided as standard with a £5M limit of indemnity. Higher limits available on request
- Employers liability - Optional
- Engineering - Optional
Standard Extensions to the Buildings Section
- Index Linked Sum Insured
- Day-one average uplift of at least 25% (Limits vary depending on Insurer )
- No cover restrictions for empty buildings (In Certain Circumstances)
- Removal of debris including tenants contents
- Extinguishment and alarm resetting expenses
- Damage to underground pipes and cables
- Trace & Access
- Subrogation waiver against the tenant
- Non invalidation of the policy as a result of the negligence of a tenant
Standard Extensions to the Loss of Rent Section
- No cover restrictions for empty buildings (In Certain Circumstances)
- Bomb scare and unlawful occupation extension
- Denial of access
- Damage at managing agents premises
- Loss of investment income due to the late payment of rent
- Automatic uplift in the sum insured as a result of a rent review free of charge
Additional Related Products
Additional facilities are available in respect of the following classes of business:
- Full cover available on development property including phased hand over
- Comprehensive insurance for the property developer including Contractors All Risks, Liability Insurances, Professional Indemnity, Advanced Loss of Rent / Gross Profit and Latent Defects Insurance
- Legal Indemnity Insurance
- Terrorism Cover is available
- If you require a quotation mail@mofs.co.uk