|
Welcome
to
jml
Property Insurance services
web site -
We have been successfully introducing online
Rental Property
insurance for Landlords
and Tenants
since 2002:
SHOP
ON LINE FOR YOUR PROPERTY INSURANCE (and more) TODAY
CLICK
on a product from our Insurance
Product Locator to
find out more details and get a quote / arrange cover on line
NOW or use the search
facility
Click Here
We
are not a comparison site, purely introducers to insurance
companies under FSA
regulations as an
advertising service and you search for the type of insurance
product you require from the menu on the left and then
follow an individual link to an insurance provider and make
all arrangements direct.
__________________________________________________________________
We
offer links to these Non Standard insurance products:
Landlord
Insurance - HomeLet
Landlords Portfolio Insurance -
Tenant Insurance-
Car
rental annual excess insurance - Daily
car rental excess insurance -
Overseas
& UK Holiday Home Property Insurance -
Letsure Landlord & Tenant insurance - - Flood
Insurance -
Rentguard
Landlord Tenant Commercial Owner Occupier Insurance
- Boats
- Overseas
& UK main residence Property
insurance - The
Money Centre buy to let mortgages
- Endsleigh
Insurance
products - Landlords
Emergency Assistance Insurance - Lifestyle Excess insurance
-
Intasure UK main residence Property
Insurance - Driving
License Insurance -Car Hire Insurance
- Block
of Flats insurance - Ex
-offender insurance for reformed offenders
- Kay
International and much more....
plus
these Standard insurance products:
__________________________________________________________________
Going
to the Channel Islands
Remember
if you are going to the Channel Islands which include Guernsey,
Jersey, Alderney, Sark and Herm or a resident of the Channel
Islands visiting the UK will now be required to pay for medical
treatment should they become ill or injured. The Government
advises that Visitors from the UK are advised to arrange for
adequate travel insurance in advance. More
Information Here
__________________________________________________________________
IS
YOUR HOLIDAY RENTAL INSURED?
- Insurance risks
for holiday homeowners - Hundreds of holiday home owners across
the South West could be unwittingly flouting the law by not
taking compulsory insurance cover on their properties this
summer.....More
Here
__________________________________________________________________
ARLA launches
new licensing scheme to protect consumer interests - Consumer
interests safeguarded by letting agent licensing - May 5th
2009........ More
Here
__________________________________________________________________
Insurance
News.....More Here
We've
selected Quotezone to provide
a fast way to get the best offer on your insurance. Fill in
your details just ONCE in this easy form and the system will
do the rest - gathering and comparing personal insurance quotes
from lots of different brokers.
You can get quotes from up to 50 insurers in under 2 minutes!
You're in safe hands because Quotezone
deals only with trustworthy FSA-registered insurers, including
the big-name providers like Swinton, Kwik-Fit, Quinn Direct
and Swiftcover! Quotezone saves you
a lot of time and money.
__________________________________________________________________
jml
Property Insurance
The Insurance Website
offers introdction to:
You
make all your own dealings direct with the individual insurance
provider
__________________________________________________________________
If
your are off on a holiday - taking a short city break or arranging
a longer holiday - Don't forget your Travel insurance - For
more information, Please
Click
Here
__________________________________________________________________
Caught
speeding past one of these?
Thought
about taking out insurance? 
__________________________________________________________________
Insurance
News -
June, May and April
2009
HomeLet releases a new Tenant's contents
insurance product available via jml insurance ....More
Here
Home
insurance premiums up 25% in Ireland.....More
Here
Tenants
and Renters - Have you got your property insured? New HomeLet
Tenant's insurance product being launched... More
Here
Are
you driving to Europe this summer?.....More
Here
Advice
for backpackers as 1 in 3 experience crime or emergency....More
Here
Don’t
get caught not paying the toll on the M50 in Ireland....More
Here
Car
hire charges could increase in Ireland....More
Here
IIF
Highlights Impact of Downturn on Insurance Sector - Ireland
......More Here
Take
advantage of early bird ski offers travellers advised....More
Here
Car
hire excess insurance sales are increasing....More
Here
HomeLet
advises their agents to make sure that their rent is fully
protected - (from the jml Insurance Blog May 2009)
Here
Insurance
in Ireland – Household and Landlord Insurance now available
in Ireland....More
Here
Leaseholder’s
campaign about insurance commission earned by Block Management
Agents continues following from a very successful campaign
in The Observer about Block Management insurance, the story
has now moved to BBC Radio 4....More
Here
jml Insurance now acting as introducers
for Kay International Plc -
jml
Insurance are delighted to announce that they are now acting
as introducers for the long established city brokerage Kay
International Plc ...More
Here
IS
YOUR HOLIDAY RENTAL INSURED?
- Insurance risks for holiday homeowners
- Hundreds of holiday home owners across the South West could
be unwittingly flouting the law by not taking compulsory insurance
cover on their properties this summer.....More
Here
jml
Insurance associate helps 36 property flood damage property
owners in Birmingham - Neil Cook of Kay International who
works with jml insurance has sucessfully helped 36 property
owners in Birmingham who have suffered severe
flood damage.....More
Here
New
research from Sainsbury’s Finance 3.8 million pet cats and
dogs have gone missing in the last five years ....More
Here
Excess
Protection Gives a Financial Boost to All - Reports from the
British Insurance Brokers Association that an increasing number
of people are opting to raise their insurance excesses in
a bid to reduce premiums is a prudent measure, providing they
can recoup the extra excess costs when they make a claim,
says Simon Vella from insure4excess.com...More
Here
Animal
Friends Insurance launch a new range of pet insurance policies
on 6th May 2009.....More
Here
ARLA
launches new licensing scheme to protect consumer interests
- Consumer interests safeguarded by letting agent licensing
- May 5th 2009........ More
Here
Swine
flu - Travel insurance and Employers advised to ensure workplace
plans 28th April 2009 - Press Releases issued by The ABI (Association
of Brotish Insurers) and CIPD (The Chartered Institute of
Personnel and Development) .....More
Here
Holidays
End One In Ten Friendships - The holiday season's fast approaching
and with one in four of us saying that we're planning to go
away with friends, EssentialTravel.co.uk warns holidaymakers
to beware before they book, as 10% of friendships end after
a joint holiday.....More
Here
Medical
conditions affect one in eight cats and dogs under the age
of three Sainsbury's Finance warns of the danger of medical
conditions becoming pre-existing.....More
Here
Profits
from Animal Insurance Protect Endangered Gorillas in the Congo
in December 2008, Animal Friends Insurance chose to support
the charity Gearing Up For Gorillas by helping with funding
for vital projects to save the majestic mountain gorillas
in the war torn Democratic Republic of Congo (DRC)....More
Here
Barbon
Insurance has acquired Zennor Ltd, the Central London based
property and commercial insurance specialist Managing General
Agent... More
Here
Londoners
Most at Risk from Burglary - Endsleigh Names UK Burglary Hotspots
- April 2009....More
Here
Contents
Insurance only for a property in London for an owner who no
longer live in the UK.... More
Here
Bargain
Holiday Tips - Anyone can use - from Essential Travel - Research
conducted by VisitBritain in January 2009, found that despite
cutting back on general spending, 50% of Brits say they aren't
prepared to sacrifice their holidays.- More
Here
Don't
forget your Travel and Car Hire Excess insurance for your
Easter or May Holiday breaks...More
Here
Essential
Travel.co.uk Protects Channel Island and Travel insurance
to be required for Channel Islands visitors From 1st April
2009, Brits travelling to the Channel Islands will no longer
receive free medical treatment. This means holidaymakers must
be covered by travel insurance to avoid expensive medical
bill....More
Here
jml
Group Blogspot sites - add your comments to:
Car
hire excess insurance
jml
Property Insurance
jml
Training & Consultancy
jml
Villas Holiday Homes
Find jml on Twitter
jml
Insurance
jml
villas
Insurance
Press Releases & News before April 2009...Here
Insurance
industry Press Releases....Here
jml
Property Insurance Press Releases....Here
Top
__________________________________________________________________
Just
started renting? You will need Insurance
If you have just started renting? Rent, local taxes, food,
entertainment soon add up. It is most unlikely that your personal
belongings will be covererd where you are renting. Is your
computer insured?
Find out more here
__________________________________________________________________
Landlord
Insurance
You
have just spent a lot of money buying a property - either
it is your home and you are going to work overseas for a while
or in a different part of the country. It might be an investment
property a "buy - to let" or a buy to let via a SIPPs Property
Pension. You might just have inherited the property or decided
to move into your partner's property. For any of those reasons
you must make sure
the
property is insured. If
you are buying just one property purely to let out, you must
treat it as a business - keeping proper records for tax authorities
etc and like running any business - you need to run this in
a professional manner and this means having adequate insurance.
If
you don't what happens if the roof blows off - a tenant falls
down stairs and breaks a leg - the pipes burst. Some of these
might well be covered if you own an apartment that has includes
insurance with the block management - maintenance - ground
rent charges. Most apartment blocks have this, however they
might not cover theft, or water damage to fixtures and fittings
in the event of a burst pipe. It is not a legal requirement
to have Landlord Insurance, but if your tenant fell down stairs
you could be facing a high claim at the local law court.
If
you own a house or bungalow then you will not have this type
of insurance. You will have to make your own arrangements.
When a there is a mortgage on a property the lender will naturally
insist that the building is insured as part of the mortgage
deed. The property owner will often have to use the lenders
insurer, however like the insurance situation with an apartment,
it would normally be very rare for the insurance to cover
an contents. 85% of private UK Landlords have mortgages supporting
their investment. The interest still has to be paid even when
the rent isn't.
When
you let out your property you must let the insurance company
know. (If the property is mortgaged then the lender should
be advised and you should get their agreement in writing).
You could have a situation whereby there is a claim for your
property, the insurance company will not honour this because
it was not the owner and immediate family living there….it
was let out. If the property is your normal domestic home
and you and your family are moving to Italy to work for a
couple of years and you are letting it out, you must get the
insurance changed.
You
might also find that your insurance company is not interested
in insuring the property when it is rented out (even if you
have been living there and you are moving out for a year or
so for work reasons). For many years many insurers did not
want to take on this type of business, particularly when a
property could be empty for periods when it was not let.
A couple of companies in the UK get involved in this as they
saw it was a real problem for property owners and although
the UK buy - to -let business has really grown since the 90's
before that there were many investors in residential property
either owning "long term protected lets" and after the introduction
of the Protected Shorthold Tenancy from the 1980 Housing Act,
similar types of properties as today were then being bought
and let out.
In the early 1990's Thomas Winter Insurance Brokers arranged
a new product Homesure
that was later to become
Letsure
with the merger of Winter Richmond
and then came along a competitor Homelet.
Homelet
and Endsleigh
are now two of the major companies
involved in the UK rental property insurance market. There
are others as well like Devon
Direct, Rentshield
Direct and
Simple
If
something goes wrong with the property, failure to insure
could leave the owner with nothing to show for the money that
has been invested.
Insurance
premium will vary from area to area in the UK. Your post code
can effect the premium you pay. You will pay more in areas
will be in area that has higher crime statistics, or where
a property is located in an area that is liable to flooding
for example.
There
is not a lot you can do about this as your rental return might
just be just the same as in a property 5 miles away that is
in a different postcode. One note of consolation is that subject
to the Inland Revenue's agreement, you can deduct insurance
expenses from the profit you make on a letting, so a higher
premium will mean you can deduct a higher expense.
Level
of Cover:
Insurers will only pay as much as
the building is insured for so if it is not sufficiently covered
and the roof suffers storm damage you could end up paying
a lot yourself. You will often have to pay an excess on a
claim, but the amount depends on the policy purchased.
A
lot of insurance companies will offer index link policies,
but for a buildings policy it is most important to have the
right cover from the start. You will normally have to provide
the square footage and other details. What the building is
constructed of, type of roof, number of storeys etc. Many
insurance companies have major concerns over wooden structures.
Some
companies now offer a low cost buildings policy that will
also cover loss of rent and re-letting costs following insured
damage. It can be worth while looking at alternative policies.
Internally
for contents is often more simplified? A quick check through
a retailer's catalogue or on the web will give you an indication
of price for furniture and fittings and if you have recently
purchased equipment for the property you should have kept
the receipts (you should have them for your Tax Return anyway).
Always make sure you have adequate contents cover.
A
point often overlooked by Landlords is that they think
why do I need contents insurance? The
property is being let unfurnished. That might be the case;
you however are most likely providing carpets, curtains, kitchen
appliances etc. What
happens if the ceiling collapses as a result of a burst pipe?
The buildings insurance will normally pay for the repairs
decoration….but not for replacing the carpets and soiled
curtains. To overcome this problem, specialist rental insurers
have introduced limited contents cover now.
Some
companies now offer a low cost buildings policy that will
also cover loss of rent and re-letting costs following insured
damage.
Legal
Expenses -
Tenant won't pay the rent - Tenant
needs evicting. Even when using a professional letting agent,
problems with tenants can occur. They might have had first
class credit and employers references at the tenancy start,
however in many cases the tenants personal circumstances have
changed during the term of the tenancy. Situations like loss
of their job, failure of their business, a relationship break-up,
accident or illness will effect the tenants ability to pay
the rent or their inclination to move out at the end of the
tenancy.
All
these situations can be resolved but will usually involve
a Court hearing and solicitors costs. Legal costs like solicitors/barristers
fees, Court and bailiffs' costs can be expensive. It can cost
£100 for less than 45 minutes of a specialist solicitors time
on a normal fee paying basis. The "average" legal cost of
a possession hearing in 2001 was £785, many cost well over
£1,000. Legal expenses insurance will usually cover all of
your legal costs. The average policy in 2005 costs £100.
Rent
Guarantee Insurance -These policies
are invaluable for many landlords. As a tax deductible premium
this will guarantee you receive the rent you are expecting
from your property regardless of your tenants personal circumstances,
ability or willingness to pay the rent.
If
you have a mortgage on the property or have calculated your
rental income verses your outgoings this will ensure you do
receive your rent. Most such policies will include the legal
expenses, as detailed above. You will receive your rent and
the legal fees to obtain vacant possession will be covered.
Policies
will usually guarantee your rental for a fixed period, typically
6 or 12 months. Some policies will provide additional cover
once you have obtained vacant possession until you are able
to re-let your policy. The costs vary from a fixed cost policy
or are commonly rated as a percentage of the annual rental
figure, typically 3-4%.
Emergency
Assistance Insurance -
So something goes wrong - Failure
of the electricity supply - Failure of the cooking facilities
- Lost keys - Plumbing problems - Leaking roofs or guttering
- Security of doors and windows. This type of cover will provide
assistance for the landlord and the tenant in the event of
an emergency at the property Policies will normally provide
parts and labour cover up to a specified amount and either
the landlord or the tenant can call a 24hr 365 day Helpline.
The
Financial Service Authority (FSA)
regulates British insurers. Their
policies now must provide a policy summary or Key Facts for
any available insurance they offer. They also have to state
this on their documentation and web sites. UK web agents cannot
now necessarily give advice on the phone or by email unless
they are authorised to do this.
©Philip
Suter jml Property Services November 2005
For
more information on Landlord
Insurance click on their logos
Homelet 
Endsleigh 
Letsure
Rentguard
Devon
Direct 
Rentshield Direct 
Simple
 XX
__________________________________________________________________
EPCs Energy Performance Certificates
for rental property in England and Wales started 1st October
2008...more information here at our property site......
and
from the end of December 2008 in Northern Ireland more information
here and
from the 4th January 2009 in Scotland more information here
Building Energy Rating - Certificates in Ireland
(BER) for all lettings and property sales from the January
2009.. more information here at our property site....
Top
___________________________________ _______________________________
Tenants
insurance
Face
the facts..... Did you know that
domestic burglary accounts for 8% of all recorded crime in
the UK? Are you covered in the event of a burglary?
Most
tenancy agreements state that it is the tenants responsibility
for any damage to their landlords property.
Are you covered?
Over
100,000 bicycles are stolen every year. Thieves love them
because they can be sold easily and anonymously.
Are you covered?
Is
your laptop insured?
The
average cost of a student burglary is £900. The most
commonly stolen items are personal laptops / computers and
other electrical goods.
Are you covered?
Is
your Landlord going to keep your deposit?
Are you covered?
If
you are renting a property the insurance that the owner has
will probably not cover your own belongings. You should take
out your own
contents insurance.
Tenants
Contents Insurance
Tenants very often overlook this,
especially those who have never rented before. To a tenant
who has just paid the first months rent plus a deposit and
administration fees in order to move into the property, insurance
is the last thing on their mind. Recent studies have shown
that less only 1 -20 tenants have any contents cover at all.
Although
a conventional home contents policy will give a basic degree
of cover for most insured perils it is not specifically designed
for tenants and there can be some major gaps in the cover
you need. Often the minimum sum you can insure for will be
far in excess of what the tenant needs, typically a minimum
of £10,000 - £12,000.
Most specialist tenant policies will
provide the tenant with cover starting from £2,500 upwards
and will usually cover accidental damage that you may cause
to the landlords fixture, fittings, buildings and contents.
Should the tenant accidentally damage the carpet with a wine
stain or hot iron or a work surface with a hot pan mark, these
events will be covered. Usually the tenancy agreement will
make the tenant legally liable for such damage, any damage
found at the time of the check-out will be deducted from the
deposit or security bond. If the tenant has adequate insurance
these events will be covered, thereby protecting your deposit.
If a Tenant has a loss through, burglary, fire, flood or other
insured peril, which has damaged their contents and have no
insurance for their personal possessions they are then left
with the
cost of replacing the items themselves.
Any items of personal property (clothes, furniture, computers
etc) a tenant takes into the property it is their responsibility
to insure. Most policies will give an option for basic cover
which can usually be extended to cover high risk personal
items which are taken outside the home, on holiday or Worldwide
i.e. Cameras, sports equipment, clothes, jewellery etc.
In certain high-risk inner city post codes there will usually
be a requirement to have minimum-security locks on doors and
accessible windows. Do also take into account the conditions
of insurance policies, regarding keeping windows and doors
secured when the Tenant is not in the property.
For further information click on the appropriate insurance
company logos on this page.
N.B.
This information should not be relied on for accuracy and
is presented here without the responsibility of jml Property
Service and the website it is being displayed at. ©jml property
Services 12-04
Top
___________________________________ _______________________________
Zurich
Insurance claims that UK Tenants are gambling with their possessions
- survey results published March 2008.
According
to Zurich Insurance UK tenants are gambling nearly £8 billion
of personal possessions by not protecting themselves against
crime or bad weather.
They
have reported that almost a million private tenants representing
37 per cent of those surveyed confessed that they have no
home contents insurance even though the fact that a third
said they estimate their personal possessions to be worth
more than £10,000 in value. Some have individual items worth
over £1,500.
In
the survey, 22 per cent admitted it would take over two years
to replace all of their possessions if they were damaged or
stolen. A third thought that they would never be able to afford
all of their personal belongings.
In
the survey one in ten tenants who do not have insurance believe
that their landlord's insurance policy covers their contents
which would very rarely occur in reality.
A
quarter of those surveyed believe that their risk is simply
not high enough to make insurance worthwhile.
The
survey found that other financial commitments take priority.
These are paying bills fifty six per cent - debt repayments
thirty six per cent - pension contributions twelve per cent.
Other reasons for not taking out contents insurance were preferring
to spend money on holidays, new clothes and socialising.
Steven
Gilbert Zurich Insurance's home underwriting manager said"
Home contents insurance is often seen by tenants as non essential.
Be it funding other financial priorities, their lifestyles
or even perhaps saving to get a foot on the property ladder
themselves, they need to be aware that not having insurance
could cost them dearly in the long run - especially if faced
with the daunting prospect of replacing all their possessions".
 o
o
Top
___________________________________ _______________________________
Irish
Property Insurance
Holiday
Homes, car hire excess insurance and more
Find
out more Here 
The
Recession Proof Pet - October 2008 
__________________________________________________________________
See
Insurance Companies for General
Information on Insurance companies
__________________________________________________________________
__________________________________________________________________
| 
