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Flat Insurance for Owners & Blocks of Flats Insurance
We can provide blocks of flat insurance that are either purpose built or converted from other types of
building. Many flat insurance providers are not prepared to provide building
insurance for property that is split in to flats. At Assetsure, we
are able to provide flat insurance quotations for buildings that have be divided up in to Flats
and we will consider both owner occupied blocks or blocks that involved an
element of letting. Our experience of providing flat insurance is that in any one block,
you are likely to have a mixture of owner occupied and tenanted, we quote for
both. As well as buildings cover we can also offer policies for engineering
and directors & officers liability. Our experience of blocks of flat
insurance is that in any one block, you are likely to have a mixture of
owner occupied and tenanted, we quote for both. We are quite prepared to accept
enquirers for all types of split property, Purpose built or Conversions, we will
even consider quoting for flat insurance where you have a converted factory premises etc. Many people approach
us for an Individual Flat Quotations without realizing that their property is
already covered, we do not want to waste your time and money so if you are
considering asking us for a quotation for an individual Flat in a block ( which
we will do) you should check first of all that you cover has not already been
arranged for you. If you are just purchasing a Flat, your solicitor or legal
adviser should be able to help with this....
If you are buying a flat for the first time and
are perhaps a little confused as to your rights and obligations, we hope this
guide will help you better understand the legal nature of your ownership. Before
reading on it is pertinent to point out that if you want to buy a flat in a
block in England or Wales, you are pretty much stuck with a lease, you may
be lucky and be able to buy one that also includes a share of the freehold or
your flat may even be offered to you on a common hold basis , an arrangement
which is becoming more popular and is seen as the eventual replacement system to
leasehold.
You can obtain the leasehold of flat in pretty
much any type of building, it can be a flat a purpose built block, in a
converted house or even in former commercial premises such as factories or
office blocks. What you will be obtaining is a portion of the building and the
right to occupy that portion of the building for a set period of time. This
period of time is called the lease and new leases are usually issued for 99 or
125 years, occasionally you will be offered a 999 lease or one that is " in
perpetuity" When you are buying a flat freehold, the term of the lease will
be specified and unless the property is brand new or in a newly converted
building, the lease will usually have run down a little. You could think of a
lease as a long tenancy agreement, except that during the period, you are free
to sell the lease to someone else, as property prices generally increase, so
will the value of your lease, although its value can decrease the closer to the
end of the lease you get. if a lease is not renewed or extended , then at the
end of the term. it returns to the freeholder. Your ownership of the flat
relates everything within the walls that encompass your portion of the building,
this includes the flooring and the plaster work and any fixtures & fittings.
Ownership does not include the bricks & mortar or the foundations or the land on
which the property stands, this will all be owned by the freeholder. The
freeholder is responsible for the upkeep of the building but beware, you will be
part responsible for paying for the up keep...
more..
Holiday Home Insurance
One of the main reasons is the periods of
occupancy that are sometimes associated with Holiday Homes and second
homes. It is often
possible that property is unoccupied for many months and insurers are
worried about the increased likelihood of Theft, Burst pipe & Flood
Claims. Of course if your Holiday Home is located in Spain, then the
chances of your experiencing burst pipe claims are diminished and this
will factored in to the premium that insurers charge. However, in the
United Kingdom burst pipes and more recently flooding are quite common.
At Asset sure, we are able to offer your Buildings & Contents Insurance
for your Holiday Home and provide you with a similar set of insurance
perils that you would expect to receive under your own home insurance
policy for your UK Home Of course if your property is located in Spain or
France for example, the cover will be tailored made to fit local
requirements.
Overseas Property
For the past few years, Briton has been
waking up to benefits of holiday home ownership as opposed to a buy to
let investment. What are the main differences. Well with a buy to let
building, you purchase a property as an investment, rent it out to a
tenant and hopefully the rent received will cover your mortgage rate
costs and at some stage in the future, you will be able to sell the
property and make a profit. Holiday home ownership on the other hand
presents you with other more attractive opportunities. Many people are
now buying overseas property in their favourite areas as a means of
having a
second home
that they can enjoy and also as a means of providing an income via
short term paying guests. Later, you can choose to retire to the
property or sell it and receive the benefit of valuable tax
concessions. The tax man considers let second homes to be earned
income and you are taxed accordingly. Assetsure can assist
you in obtaining overseas property insurance for.... Australia,
Austria, Belgium, Brazil, Bulgaria, Canada, Cape Verde, Croatia,
Cyprus, Czech, Denmark, Egypt, Estonia, Finland, Germany, Greece,
Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg,
Malta, Monaco, Morocco, Montenegro, Netherlands, Norway, Poland,
Portugal, Ireland, Romania, Slovakia, Slovenia, South Africa, Sweden,
Switzerland, Thailand, Turkey, United Arab Emirates.
Home Insurance UK
There are three main sections of a
UK home
insurance policy are as follows;
buildings,
contents and all risks. Until
recently, it was normal practice for a lender to want to arrange the buildings
cover on a home they had lent money on.
The reasons for doing so were; to protect their financial interest (the
outstanding balance of the loan) and of course, they could earn commission
from any product sold. The problem for consumers was that often lenders
were restricted in the number of insurers they could place business with
and thus the insurance premium obtainable was not always the
cheapest. Its also important for any empty property insurance cover that
the insurer is made aware of your individual situation. This practice has now been very much relaxed and normally
homeowners are free to buy their home buildings insurance from wherever
they choose....
Listed Building Insurance
AssetSure can quote for either your Grade 1 or Grade
2
listed Building. We can offer cover either on a Building only basis or
coupled with your Contents & Personal Belongings. We understand the
issues regarding listed buildings; a listed building is acknowledged by the secretary
of state and noted on a register( hence the term listed) as being of special
interest and as such worthy of special protection. Legislation has been enacted
to protect and preserve any building or structure on the list and the penalties
for non compliance can be quite severe. A listed building is not always
large, stately or in excellent condition, in fact other structure types such as
schools, churches, walls, tombstones, milestones, barns, bridges, locks and even telephone boxes
can be included on the list. Sometimes a property was occupied by a famous
person and this in itself is enough of a reason for listed status.
Listed buildings are considered to be part of our heritage and of national
importance often people or groups of people campaign to have a property listed
and thus preserved for future generations....
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Copyright Assetsure Limited 2009
Assetsure is an Appointed Representative
of Intasure, a trading name of Blenheim Park Limited who are
authorised and regulated by the Financial Services Authority.
Assetsure Limited is an appointed representative of Highhouse
Insurance Services Limited who are authorised and regulated by the
Financial Services Authority
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