Property Owner’s Insurance

Whether for an individual or portfolio of properties, owned by one person or a trust, Property Owner’s Insurance is an essential requirement to protect the owner from a number of risks.

An owner of a building can be exposed to damage or total loss of their property, loss of rent from lack of tenants as well as having a duty of care to tenants and members of the public, thus requiring public liability insurance to be included.

As with many insurance sectors, the property owner’s market has been shaped by economic pressures in the last few years. The rise in businesses vacating rented premises either through insolvency or downsizing has led to an increase in a number of unoccupied properties to be insured. The perceived risk profile of an unoccupied property is greater due to the assumed lack of on-site security. Premium rating for owners of vacant properties are therefore is higher as a consequence.