PRODUCT GUIDE FOR ALL YOUR PROPERTY INSURANCE NEEDS

Transcription

1 PRODUCT GUIDE FOR ALL YOUR PROPERTY INSURANCE NEEDS

2 Owner Occupier Insurance Rent & Legal Protection Insurance Commercial Property Insurance Non Standard Property Insurance Working from home Tenants Contents Insurance RENTGUARD PRODUCT RANGE Portfolio & Block Scheme Insurance Tenant Referencing Tenants Liability Insurance Holiday Home Insurance Residential Landlord Insurance

3 Rentguard Insurance Product Guide WHO ARE RENTGUARD PRODUCTS FOR? Residential landlords Commercial landlords Home owners Tenants

4 Provides cover for buy-to-let houses, bungalows and flats for damage to the buildings and landlords contents Can provide cover for commercial and residential combined properties Underwritten by leading UK insurers, including Zurich, Legal & General, LV=, NIG and Certain Underwriters at Lloyds Quotes are provided for working professionals, students, DSS, asylum seekers and unoccupied properties We also provide cover for some UK holiday homes, bedsits and HMOs RESIDENTIAL LANDLORD INSURANCE

5 Minimum excesses (may vary depending on occupancy) AGEAS LEGAL & GENERAL CATLIN Details on policy certificate 100 Buildings & Contents Subsidence 1,000 Escape of water / escape of oil 500 (unless specified otherwise) Buildings 100 Contents 100 Subsidence 1,000 Escape of water / escape of oil 250 (unless specified otherwise) Buildings 100 Contents 50 Subsidence 1,000 Escape of water / escape of oil 500 (unless specified otherwise) XL CATLIN PROPERTY PLUS Buildings 100 Contents 100 Subsidence 1,000 Escape of water / escape of oil 500 (unless specified otherwise) Features and benefits Loss of rent or alternative accommodation cover Cover for tracing and fixing leaking underground pipes Public liability for property owners up to 5m Employers liability up to 10m Loss of rent or alternative accommodation cover Cover for outbuildings Public liability for property owners up to 5m Employers liability up to 10m Loss of rent or alternative accommodation cover Cover for outbuildings Public liability for property owners up to 5m Employers liability up to 10m 30 days full cover between lets Blanket cover of 1 million on buildings Blanket cover of 65,000 for contents Available for both landlords and home owners Up to 20% of the building sum insured for loss of rent Exclusions and limitations (a full list can be found in the policy terms and conditions) Property must be maintained to a good state of repair Theft or malicious damage by insured, their family, any employee or tenant is not covered (unless specified otherwise) Valuables (motor vehicles and gold, silver, fur, jewellery) not covered Property must be maintained to a good state of repair Theft or malicious damage by insured, their family, any employee or tenant is not covered Computer or data processing equipment, operator error, virus or hacking is not covered Gold, silver or other precious materias are not covered Property must be maintained to a good state of repair Computer or data processing equipment, operator error, virus or hacking is not covered Gold, silver or other precious materias are not covered Property must be maintained to a good state of repair Computer or data processing equipment, operator error, virus or hacking is not covered

6 Minimum excesses (may vary depending on occupancy) Features and benefits BRIT Details on policy certificate 100 Buildings & Contents Subsidence 1,000 Escape of water / escape of oil 500 (unless specified otherwise) Loss of rent or alternative accommodation cover Cover for tracing and fixing leaking underground pipes Public liability for property owners up to 5m Employers liability up to 10m NIG Buildings 250 Contents 100 Subsidence 1,000 Liabilities (damage to property) 100 Glass & sanitary ware 100 Escape of water / escape of oil 500 (unless specified otherwise) Loss of rent or alternative accommodation cover Damage by Emergency Services up to 25,000 Public liability for property owners up to 5m Employers liability up to 10m Exclusions and limitations (a full list can be found in the policy terms and conditions) Property must be maintained to a good state of repair Theft or malicious damage by insured, their family, any employee or tenant is not covered Valuables (motor vehicles and gold, silver, fur, jewellery) not covered Property must be maintained to a good state of repair Theft or malicious damage by insured, their family, any employee or tenant is not covered

7 COMMERCIAL PROPERTY INSURANCE Provides cover for most commercial properties including offices, shops, cafés, taxi offices, estate agents, hairdressers, beauticians, restaurants, dental surgeries, car accessory stores, furniture stores and garden centres Can provide cover for commercial and residential combined properties Underwritten by NIG and Ageas Provides cover for loss of rent Rentguard must be notified whenever there is a change in tenancy/alterations

8 COMMERCIAL PROPERTY INSURANCE Minimum excesses Features and benefits Exclusions and limitations (a full list can be found in the policy terms and conditions) Buildings 200 Escape of water 250 Subsidence 1,000 NIG Residential and Commercial Combined Public liability up to 5m Employers liability up to 10m Loss of rent cover Maintenance, security and reasonable precautions apply Special terms apply to empty buildings Computer or data processing equipment, operator error, virus or hacking is not covered Losses involving faulty/ defective workmanship AGEAS Buildings 250 Escape of Water/Accidental Damage/Theft 500 Subsidence 1,000 Inflation protection Day One basis Additional metered water or gas charges up to 25,000 25,000 of property owner s contents covered as standard Maintenance, security and reasonable precautions apply Special terms apply to empty buildings Computer or data processing equipment, operator error, virus or hacking is not covered Losses involving faulty/ defective workmanship

9 OWNER OCCUPIER INSURANCE Provides buildings cover for home owners with or without contents cover Underwritten by Certain Underwriters at Lloyds and Ageas Optional accidental damage cover on buildings and contents Rentguard must be notified whenever there is a change in tenancy/alterations Cover for valuables such as bikes or jewellery when noted on the policy Optional personal possessions cover Legal liability to the public 2,000,000 as standard Alternative accommodation provided

10 OWNER OCCUPIER INSURANCE LLOYDS AGEAS AGEAS SR NOVAE Minimum excesses Buildings 100 Contents 50 Including EOW Excess Buildings 100 Contents 100 Escape of Water 250 Buildings 100 Contents 100 Escape of Water 250 Buildings 100 Contents 100 Escape of Water 250 Features and benefits Blanket cover of 650,000 for buildings insurance Blanket cover of 60,000 for contents insurance Personal possessions cover up to 20,000 Accidental damage included Blanket cover of 750,000 for buildings insurance Blanket cover of 60,000 for contents insurance Blanket cover of 650,000 for buildings insurance Blanket cover of 65,000 for contents insurance Blanket cover of 650,000 for buildings insurance Blanket cover of 65,000 for contents insurance Exclusions and limitations (a full list can be found in the policy terms and conditions) Per claim will not pay more than 5% of contents sum insured for any one valuable or one third of contents sum insured for valuables Valuables up to a maximum value of 24,000 Loss or damage to any computer relaed equipment caused by computer failure or computer error. Any amount over 20% of the sum insured for the buildings damaged or destroyed for loss of rent and alternative accommodation.

11 NON STANDARD PROPERTY INSURANCE Cover for properties of non-standard construction including those constructed from using wood, metal, glass, 100% flat roof or from cob Underwritten by Ageas and e-underwriting Can cover those working or trading from home, as well as those with previous claims histories, histories of CCJs, bankruptcy and some criminal convictions Alternative accommodation provided Up to 650,000 building sum insured as standard Properties of any age covered Property owners liability up to 2,000,000 10,000 worth of valuables covered as standard

12 TENANT CONTENTS INSURANCE Provides cover for residential tenants living in houses, flats, bedsits, and shared accommodation Underwritten by Certain Underwriters at Lloyds Covers loss and damage to posessions as a result of fire, smoke, storm or flood, as well as theft and mailicious damage Tenants liability to the public of up to 2,000,000 Alternative accomodation provided Additional cover for personal possessions, including valuables and money Includes accidental damage to landlord s fixtures and fittings

13 TENANTS CONTENTS INSURANCE Minimum excesses (may vary depending on occupancy) 50 on contents 50 on personal possessions Features and benefits Loss or damage to valuables, money and personal effects belonging to you or your family whilst anywhere in the world Accidental damage to landlord s fixtures and fittings ( 2,500) Exclusions and limitations (a full list can be found in the policy terms and conditions) Loss or damage to computers or computer equipment by viruses, deletion of data or contamination Theft or disappearance from home, other than as a result of violent and forcible entry

14 TENANTS LIABILITY INSURANCE Provides cover for residential tenants living in houses, flats, bedsits, and shared accommodation Underwritten by Certain Underwriters at Lloyds and Ageas Covers accidental damage to the home and the cost of repair following damage Covers loss or damage to fixed water pipes and tanks Tenants liability to the public of up to 2,000,000 Alternative accomodation provided

15 Provides cover for advisors costs incurred in eviction proceedings when a tenant fails to perform their obligations set out in the terms of the Tenancy Agreement. This policy also covers rent arrears owed by the tenant under the Tenancy Agreement Tenant referencing is a requirement of this policy Legal expenses insurance only is also available The policy is available for 6 and 12 month tenancy terms LEGAL EXPENSES & RENT GUARANTEE INSURANCE Policy is available with or without an excess Underwritten by AXA Assistance Group

16 LEGAL EXPENSES & RENT GUARANTEE INSURANCE AXA Minimum excesses Features and benefits Exclusions and limitations (a full list can be found in the policy terms and conditions) Equal to the sum of one month rental income / No excess Advisors costs up to 25,000 Monthly rental up to 3,000 per month (up to a maximum of 18,000) Dilapidations costs when included in the inventory Claims cannot be considered without a signed Tenancy Agreement It is the insured s responsibility to provide evidence of a satisfactory Tenant Reference in the event of a claim Claims must be reported within 45 days of the incident Claims cannot be made in the first 90 days of the period of insurance Claims that are less than 250 are excluded

17 Tenant referencing is a requirement of the Legal Expenses & Rent Guarantee Insurance policy TENANT REFERENCING Required for Legal Expenses & Rent Guarantee All types of lets have to be fully referenced either by Rentguard or a referencing company approved by Rentguard HOWEVER full time employed working tenants only need a 4 point check The 4 point check: 1 Identification from the tenant containing a clear photograph 2 3 Either a utility bill or a bank statement Credit check clear of CCJs, bankruptcies and indicating confirmation of residency 4 Confirmation of employment- a written employers reference on company letter headed paper confirming the tenant s permanent and current employment and that their salary is at least a multiple of 2.5 of the tenant s rent. (The documents should be no more than one month old from the start of the tenancy) If a working professional does not meet the above criteria or their salary is insufficient then a full reference must be carried out It is the insured s responsibility to provide evidence of a satisfactory tenant reference in the event of a claim

18 Rentguard Insurance Product Guide PORTFOLIO AND BLOCK SCHEME INSURANCE Rentguard provides block schemes for portfolio requirements covering both commercial and residential properties including blocks of flats, bedsits and some guest houses This product is aimed at freeholders, investors, landlords, property managers, residential block schemes and landlords associations with multiple properties Quotes are provided for multiple tenancies including working professionals, students, DSS, asylum seekers and unoccupied properties The main benefit of this policy is to have all properties insured together with minimal administration, renewals all on the same day and direct contact with a dedicated account manager

19 WHAT YOUR CUSTOMERS SHOULD HAVE WHEN TAKING OUT A POLICY Risk address Building sum insured Type of tenants Previous claims

20 HOW TO BUY FCA Regulated Gather all the information and details of the clients and their properties inputting this into the online quotation system or by calling Rentguard on You will be given a premium and a policy reference number. Keep a record of this number in order to come back and proceed with the payment at a later date. Non-FCA Regulated Provide your client with a quick premium quotation using the online quotation system. You will also be given a policy reference number to come back to your quote at a later date. Purchasing the policy can be done online or over the phone. Once an account is set up with us you can pay for all business on a monthly basis. You will receive commission for each new and renewed policy at the end of each month. If your client would like to go ahead with the policy refer them back to Rentguard where we will further advise the customer and arrange the payment. Your clients can pay by credit or debit card, direct debit or cheque. Direct debits are subject to a 10% premium charge and the instalments are spread over 10 months. Please note that there is additional 2.50 charge for customers paying by credit card. You will receive commission for each new and renewed policy at the end of each month.

21 IMPORTANT POINTS When getting a quote for any buildings insurance policy you will be asked the value of the buildings sum to be insured. This is not the same as the property value - the only way to get an accurate value of the rebuild value is to get a professional survey done The maximum payout will be equal to the buildings sum insured When taking out contents insurance it is important to remember that in the event of a claim the maximum payout will be equal to the contents sum insured so the full value of the contents to be insured must be covered Buildings Sum Insured = the cost of rebuilding the property to its original standard if you had to completely rebuild it.

22 IN THE EVENT OF A CLAIM If your client needs to make a claim they should: Contact Rentguard within 30 days of the incident Fill out the claim form over the phone Claim sent to loss adjusters who will arrange to inspect the property Only emergency work to prevent further loss can be carried out straight away. Under no circumstances should full repairs be carried out without our prior consent.

23 HERE S TO A BRIGHT FUTURE Call us today and let us know your requirements Tel: Web: rentguard.co.uk info@rentguard.co.uk Rentguard Insurance 27 Great West Road Brentford London TW8 9BW