The current cold weather has led to problems for landlords with unoccupied vacant properties. As the thaw sets in Endsleigh Insurance is advising landlords to take precautions against water damage caused by leaking pipes and frost damaged water tanks.
Alex Stutchbury of Endsleigh Insurance explains; “The problem is the recent deep chill on the back of the already cold seasonal weather. As temperatures start to rise again and frozen pipework thaws out, any damage caused will start to leak. If the leak isn’t found quickly it can easily lead to significant damage, and in an unoccupied property it’s not inconceivable that a leak could go unnoticed for several days or longer.”
Endsleigh offers insurance policies for landlords that include cover for periods when their property is unoccupied. However, it claims that not all policies offered to landlords offer the kind of cover for unoccupied properties that the current cold weather demands, and the same issue applies to private householders whose homes are currently unoccupied.
As a result the company has issued some advice to help protect empty residential properties and ensure that appropriate insurance cover is in place.
Unoccupied & Vacant Homes - 7 ways to protect your property
1. Watch out for ‘Flee Cover’
When insuring a property that is vacant you may hear the term Flee Cover. This means that the insurer has decided to give you a minimal cover while the house being unoccupied. The policy is usually limited and covers damage for fire, lightning and explosion. Many owners of unoccupied properties will therefore find they are NOT covered for water damage or vandalism.
2. Keep the heating on
During this cold weather it is essential that central heating is kept on at a low level to avoid water freezing in pipes. Endsleigh recommends setting thermostats to 13 degrees centigrade and running the system for a few hours at night and again during the day.
3. Clear your gutters
Make sure gutters are clear from any obstruction as this will avoid damp and water penetration problems. It will also make guttering last longer and help you find and repair broken gutters, down pipes and brackets.
4. Invest in decent locks
This will help reduce insurance premiums and make it easier to find the full cover against burglary and vandalism that your property needs. Five lever mortise deadlocks and window locks on all accessible windows is recommended by most insurers.
5. Check the property regularly
Regular visits will deter criminals who may be watching the property, and will also mean that you find leaks, break-ins, vandalism and other damage before the problem escalates. Also remember that most insurers have terms on their policies requiring this.
6. Keep in touch with neighbours
As you neighbours to keep an eye on the property and make sure they have your contact details. Do your bit by maintaining the property’s appearance, for example cutting the grass, clearing rubbish. Your neighbours might be able to contact you in event of emergency, especially if a problem occurs at night.
7. Regularly check and update your insurance policy
Make sure you have adequate insurance and that your policy is up to date. Always insure your property with a cover adequate for the time it is unoccupied, and remember that most standard insurers only cover between 30 and 60 days ‘unoccupancy’.
Specialist insurers can offer covers for all major risks, protecting you properly in case of the worst happens. When arranging your insurance, make sure you check all the cover options available to you. Saving a few pounds on insurance premiums by taking minimal cover could end up costing you dear this winter.
FACTFILE:
Endsleigh is an independent intermediary specialising in the provision of insurance and financial products for career people.
The team have access to the leading insurers and lenders in the UK market, offering comprehensive advice on all areas of financial planning. Along with offering advice on financial protection, investments and retirement planning, Endsleigh also has dedicated mortgage and corporate advisers.
For information on unoccupied property insurance http://www.endsleigh.co.uk/Home/Pages/unoccupied-property-in...
Endsleigh Insurance on Twitter http://www.twitter.com/Endsleigh
Endsleigh on Facebook http://www.facebook.com/endsleigh
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Showing posts with label Endsleigh. Show all posts
Showing posts with label Endsleigh. Show all posts
Tuesday, 14 February 2012
Monday, 6 February 2012
Tips for home-workers from Endsleigh Insurance
The current job market is encouraging many people, especially working mums, to try self-employed life for the first time. Endsleigh Insurance provides tips for people setting up their own businesses.
Kate Jenner Commercial Team Manager of http://www.endsleigh.co.uk/ commented: “We’re getting more and more enquiries from people setting up in business on their own for the first time. The internet has made it easier and cheaper for people to trade, but so many are naïve about how to go about it.”
Top 5 tips
1. Benefit from business accounts
It may not seem like a priority if you’re not expecting to make much money initially, but it’s important to separate your personal and business finances – also there are free gifts and other benefits to enjoy.
All the main high street banks will be competing for your business and will offer all manner of perks and gifts to get you to bank with them. When you are starting off on your own, every little helps.
At the same time, get your mobile phone transferred to a business account. Welcome improved customer service and special deals that only apply to business users! Moving your mobile phone to a business account can be a great money saver. You might be able to combine with a broadband package and often benefit from attractive phone upgrades as well as free calls between business users.
2. Put all “sundries” through the company account
“Working from home” can mean sitting at a computer, or driving around your local community, either way you are going to clock up a lot of payments for small items.
This can mean paying for tea bags, buying a new computer keyboard, or simply stocking up on pens! Make sure you get a VAT receipt for all payments as it all stacks up.
3. Use your social networks to market yourself as cheaply as possible
Advertising in the local paper, or online, might be necessary to get yourself started, but there’s nothing like using your network of friends, family and former business contacts to find work.
This isn’t the time to be bashful – make sure everyone knows about your new business by updating your LinkedIn profile and sending out messages through Facebook and Twitter.
4. Join relevant groups & organisations
Is there a union or organisation that covers your particular sector? Joining up can reap huge rewards, by offering you discounted training and advertising opportunities, as well as widening your network of contacts.
As well as official bodies, look out for collectives that work with people like you. There are lots of excellent organisations representing your focus or network, working mums, local business forums for example. Or if you are a blogger you will find a number of groups to join.
5. Protect yourself
Whatever service or product you are selling, you are liable for its safety, accuracy and general adherence to the law. Whatever your line of business, whether a beautician, writer or plumber you will need cover for Business and Office Equipment, Stock, Business Travel, Revenue Protection, Tools and Goods in Transit.
Endsleigh strongly recommended that sole traders and the self-employed ask an advisor about Public Liability insurance costs and benefits for their sector.
FACTFILE:
Endsleigh is an independent intermediary specialising in the provision of insurance and financial products for career people.
The team have access to the leading insurers and lenders in the UK market, offering comprehensive advice on all areas of financial planning. Along with offering advice on financial protection, investments and retirement planning, Endsleigh also has dedicated mortgage and corporate advisers.
Endsleigh online http://www.endsleigh.co.uk
Endsleigh Insurance on Twitter http://www.twitter.com/Endsleigh
Endsleigh Press Office on Twitter http://twitter.com/EndsleighPR
Endsleigh on Facebook http://www.facebook.com/endsleigh
Kate Jenner Commercial Team Manager of http://www.endsleigh.co.uk/ commented: “We’re getting more and more enquiries from people setting up in business on their own for the first time. The internet has made it easier and cheaper for people to trade, but so many are naïve about how to go about it.”
Top 5 tips
1. Benefit from business accounts
It may not seem like a priority if you’re not expecting to make much money initially, but it’s important to separate your personal and business finances – also there are free gifts and other benefits to enjoy.
All the main high street banks will be competing for your business and will offer all manner of perks and gifts to get you to bank with them. When you are starting off on your own, every little helps.
At the same time, get your mobile phone transferred to a business account. Welcome improved customer service and special deals that only apply to business users! Moving your mobile phone to a business account can be a great money saver. You might be able to combine with a broadband package and often benefit from attractive phone upgrades as well as free calls between business users.
2. Put all “sundries” through the company account
“Working from home” can mean sitting at a computer, or driving around your local community, either way you are going to clock up a lot of payments for small items.
This can mean paying for tea bags, buying a new computer keyboard, or simply stocking up on pens! Make sure you get a VAT receipt for all payments as it all stacks up.
3. Use your social networks to market yourself as cheaply as possible
Advertising in the local paper, or online, might be necessary to get yourself started, but there’s nothing like using your network of friends, family and former business contacts to find work.
This isn’t the time to be bashful – make sure everyone knows about your new business by updating your LinkedIn profile and sending out messages through Facebook and Twitter.
4. Join relevant groups & organisations
Is there a union or organisation that covers your particular sector? Joining up can reap huge rewards, by offering you discounted training and advertising opportunities, as well as widening your network of contacts.
As well as official bodies, look out for collectives that work with people like you. There are lots of excellent organisations representing your focus or network, working mums, local business forums for example. Or if you are a blogger you will find a number of groups to join.
5. Protect yourself
Whatever service or product you are selling, you are liable for its safety, accuracy and general adherence to the law. Whatever your line of business, whether a beautician, writer or plumber you will need cover for Business and Office Equipment, Stock, Business Travel, Revenue Protection, Tools and Goods in Transit.
Endsleigh strongly recommended that sole traders and the self-employed ask an advisor about Public Liability insurance costs and benefits for their sector.
FACTFILE:
Endsleigh is an independent intermediary specialising in the provision of insurance and financial products for career people.
The team have access to the leading insurers and lenders in the UK market, offering comprehensive advice on all areas of financial planning. Along with offering advice on financial protection, investments and retirement planning, Endsleigh also has dedicated mortgage and corporate advisers.
Endsleigh online http://www.endsleigh.co.uk
Endsleigh Insurance on Twitter http://www.twitter.com/Endsleigh
Endsleigh Press Office on Twitter http://twitter.com/EndsleighPR
Endsleigh on Facebook http://www.facebook.com/endsleigh
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