East Midlands Market Forum
BIBALet attended the East Midlands road show in Leicester on 8th March 2010.
It was certainly a road show of 'two-halves' with the presentations. The first half, with some interesting topics, premium financing and Environmental Liability, which should be of benefit to us all, was difficult to follow. Unfortunately the speakers did not inspire or entertain and the message they were trying to get across really didn't hit home with the audience. This is a real shame as getting the right premium financing deal can be invaluable to both clients managing their outgoings and brokers managing their debtors.
The second half of the road show, the panel debate, was much more entertaining. With strong speakers showing a real passion and dedication to their subject. There was a good discussion around expertise in the insurance industry and how we develop young talent. For an industry, which from the outside may not appeal to most, we certainly need the type of individuals on show in the afternoon to drum up the support we need.
Advantages of a specialist insurance policy
Time and time again the warnings appear in the press about not having the right insurance cover in place. It still seems that having the relevant insurance policy in place is an after thought in many circumstances. Professional insurance brokers know the pitfalls for the client and will always advise accordingly but over recent months during the recession many people who have turned to renting their property out probably still haven't got the right insurance for their property.
Firstly, new and prospective Landlords should check the terms of their mortgage and advise their mortgage company of the change in occupation.
Second, they need to ensure they have adequate cover in place. Remember you are protecting an investment and by having Tenants occupy the property, you have a number of different 'risks' which a normal household insurance policy will either not cover of may exclude.
Just a few points to consider are alternative accommodation should the property be uninhabitable, malicious or accidental damage by tenants, loss of rent or last but by no means least, any exclusions for the property being unoccupied. Many policies limit cover after 30 days whereas many targeted policies will extend full cover past this period. These are all covers a professional broker will be able to source for a Landlord at little or no extra cost.
East Midlands Market Forum
BIBALet attended the East Midlands road show in Leicester on 8th March 2010.
It was certainly a road show of 'two-halves' with the presentations. The first half, with some interesting topics, premium financing and Environmental Liability, which should be of benefit to us all, was difficult to follow. Unfortunately the speakers did not inspire or entertain and the message they were trying to get across really didn't hit home with the audience. This is a real shame as getting the right premium financing deal can be invaluable to both clients managing their outgoings and brokers managing their debtors.
The second half of the road show, the panel debate, was much more entertaining. With strong speakers showing a real passion and dedication to their subject. There was a good discussion around expertise in the insurance industry and how we develop young talent. For an industry, which from the outside may not appeal to most, we certainly need the type of individuals on show in the afternoon to drum up the support we need.
Advantages of a specialist insurance policy
Time and time again the warnings appear in the press about not having the right insurance cover in place. It still seems that having the relevant insurance policy in place is an after thought in many circumstances. Professional insurance brokers know the pitfalls for the client and will always advise accordingly but over recent months during the recession many people who have turned to renting their property out probably still haven't got the right insurance for their property.
Firstly, new and prospective Landlords should check the terms of their mortgage and advise their mortgage company of the change in occupation.
Second, they need to ensure they have adequate cover in place. Remember you are protecting an investment and by having Tenants occupy the property, you have a number of different 'risks' which a normal household insurance policy will either not cover of may exclude.
Just a few points to consider are alternative accommodation should the property be uninhabitable, malicious or accidental damage by tenants, loss of rent or last but by no means least, any exclusions for the property being unoccupied. Many policies limit cover after 30 days whereas many targeted policies will extend full cover past this period. These are all covers a professional broker will be able to source for a Landlord at little or no extra cost.