Residential Property Owners

Target Market
Our residential Let Assured product is underwritten by Tokio Marine HCC and is suitable for residential property owners who own a property* that is either let out to tenants, used as a holiday home, used as a second home and/or is unoccupied. (*House, Single flat or block of flats/apartments.)

This product provides insurance cover for buildings, contents, loss of rent/alternative accommodation and property owners’ liability insurance. In addition, the following cover can be added onto our residential let product: legal cover, rent guarantee, emergency assistance and/or terrorism cover. The product is not suitable for properties situated in Northern Ireland.

Features & Benefits

• Landlords Contents up to £5,000 can be provided free of charge. This applies to all tenant types, except Unoccupied

  Cover for damage caused by malicious persons authorised to be in any part of the building is included, up to the limits noted below:

  DSS Non-Referrals and Students are limited to £10,000, Professionals to £20,000 and Unoccupied to £5,000. (the limits are in respect of any one claim)

  Please note: Cover is not included for the following tenancy types: Asylum Seekers and DSS Referrals

• Accidental Damage under buildings and contents can be included free of charge, if the property is occupied by the following tenant types: Professionals, Students and DSS (Non-Referrals)

• Property Owner’s Liability £2,000,000 (Limit of Indemnity)
  
• Loss of Rent 20% (Building Sum Insured), or up to £150,000 alternative accommodation except for unoccupied properties
• Trace and Access up to £10,000 in any one period of insurance

• Accidental Damage to cables & underground services
• Loss of Metered Water £2,500 any one claim, maximum £5,000 any one period of insurance
• The BSI will benefit from index linking, in line with the House Rebuilding Cost Index, issued by the Royal Institution of Chartered Surveyors
• Unauthorised use of utilities cover up to £5,000
• Capital Additions - 10% of the BSI or £250,000 whichever is less
  

• Landscaped gardens - following damage caused by emergency services £10,000
• Removal of wasp and bee nests - £1,000 in any one period of insurance (£50 excess applies)
  
• Clean-up costs and remedial work following the Illegal Cultivation of Drugs – up to £5,000 in any one period of insurance
  
• Replacement locks cover £2,500 in any one period of insurance 
  

Optional Extras

• Option to extend Property Owner's Liability to £5,000,000 LOI
  
• Differing degrees of cover available when unoccupied (See document below for further details)
• Legal Expenses up to £25,000
• Rent Guarantee cover up to £30,000
  
• Emergency Assistance up to £500
• Terrorism is available as an optional extra