Regional traded product
Premier Property Owners
Premier Property Owners is an enhanced proposition tailored to meet the needs of mid-market property risks including commercial, residential and mixed portfolios and dealt with by our specialist real estate teams in London and Manchester.
Why choose NIG for Premier Property Owners?
- Exclusivity of product through selected Real Estate Brokers.
- Specialist Real Estate underwriting team.
- Comprehensive cover including Material Damage, Loss of Rent, Property Owners Liability, Employers Liability, Engineering Inspection and Legal Expenses.
- Optional Cyber cover available.
- Capacity up to £100m total sum insured per location.
- A rated insurer (A2 Moody’s).
- Tailored risk management proposition.
- Building valuation solutions and financing options.
- Inadvertent omission to insure and third-party failure to insure – £5m limit as standard.
- Automatic loss of rent /alternative accommodation 33.3% of sum insured as standard.
- Cover for newly acquired /newly completed /redeveloped or refurbished properties for 30 days maximum £5m any one property.
- Loss minimisation clause – for the sole purpose of avoiding or diminishing the amount of a loss following insured damage. £25,000 limit.
- Theft and Malicious Damage by tenant covered automatically up to £10,000 per claim.
- Legionellosis cover included.
- Environmental statutory clean-up costs up to £100,000.
- Engineering Breakdown automatically included. Covers boilers, heating systems, lifts, alarms and air conditioning units.
- Legal Expenses £250,000 limit of indemnity with options for increased limits.
- “All Risks – specified perils” cover
- Cover for landlords contents included
- Cover available on: re-instatement, indemnity or loss of market value
- Adjacent property damage up to £150,000
- Contract works up to £500,000
- Frustrated legal costs up to £25,000
- Loss of keys up to £50,000
- Metered water, electricity & gas charges up to £50,000
- Removal of tenant’s debris of up to £25,000
- Trace & access extension
New extensions include
- Archaeological discoveries
- Clearing of drains
- Debris recycling costs
- Emergency access by police
- Energy performance and sustainable buildings
- Gardening equipment
- Ground rent
- Illegal cultivation of drugs
- Incombustible reinstatement
- Involuntary betterment
- Obsolete building materials
- Tree felling and lopping
Loss of income
- Loss of rent or estimated gross revenue
- Cost of re-letting
- Additional expenditure to avoid Loss of Rent
- Business rates payable by the insured as a result of damage
- PR expenditure
- Accelerated re-instatement expenditure
- Accountants fees
- Additional Increased Cost of Working (optional)
- Advanced rent (optional)
- Contingency rent included
- Loss of attraction £500,000 included
Property owners liability
- £5M/10M Limit Of Indemnity (LOI) options
- Legionellosis included
- Financial Loss included
- Legal liability for damages and legal costs
- £10M/£25M LOI options
- Computer equipment up to £250,000
- Reinstatement of data up to £25,000
- Increased Costs of Working £25,000
- Tenancy disputes
- Rent recovery
- Nuisance or eviction of squatters
- Property protection
Terrorism (Optional section)
- Cover for losses arising under any of the Heads of Cover as a result of damage caused by an act of terrorism
Cyber (Optional section)
- Variable excesses and Indemnity periods available
- 24/7 specialist support provided
This is a summary of the cover available. Please refer to the policy booklet for full terms and conditions.
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