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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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