Chartered Surveyor Insurance

Not necessarily. We can isolate the “problem” property and apply any necessary rate increases just to that property, leaving the remaining properties unaltered.

We feel the insurance contracts protecting the pension portfolio (buildings insurance) is key to supporting the growth of the investment and potentially assisting tenants in the event of a claim.  Sometimes this can be overlooked and we have seen many policies with cover that is simply not adequate.  Liability limits on existing insurance contracts can sometimes be far too low and the insured can sometimes not understand how the lower limits could affect them.  If not covered correctly, one bad claim could potentially wipe out an investment.  Our advice is to speak to the experts, Pi Property Insurance.

Yes!  Pi-Property covers Loss of Rent up to 36 months as standard. For commercial properties this is based on the annual rental income received by the landlord. For residential properties this is up to 33.3% of the building sum insured which is automatically included within the policy wording.

We are happy to discuss the factors you should take in to account when arriving at an adequate indemnity period. This includes the estimated time to rebuild the property (allowing for demolition, site clearance, planning and fitting out) ready for occupation again.

It is essential that your policy cover for loss of rent does not stop at the time the property rebuild is complete (some policies on a “material damage” basis will only cover you for loss of rent up until this point).

Our policy wording will continue cover for loss of rent beyond the repair stage and allow for any period of ongoing un-occupancy whilst you find a new tenant. If you have to offer incentives to attract a new tenant, including rental holidays or reduced rent levels, our policy will cover the shortfall in rent right up until rent levels have been restored or the indemnity period expires; whichever comes first. In addition to rental income, consideration should also be given to service charges too.

Yes!  Pi-Property would not automatically restrict or refuse cover for any unoccupied property but rather gain an understanding of the property, e.g. how long has it been vacant, what are the intentions for the property, what security measures are in place etc.

We are able to offer more flexible terms for inspections of vacant properties giving up to 45 days between inspections, as opposed to our competitors which could be as little as every 7 days which can be rather inconvenient, costly and impractical. In extreme cases, insurers may restrict cover and/or increase the excess but before we get to that stage we will negotiate with the insurers on your behalf to gain the most satisfactory terms for all parties. 

Yes!  We just need to take a note of the building construction, what level of grading has been applied and understand any non-standard elements (such as a thatched roof).

Insuring a listed building requires care and attention, most importantly by utilising the services and advice of a professional valuer specialising in reinstatement cost assessments for listed properties. The declared value must make allowance for the method of construction, unusual features and craftsmanship required to repair or rebuild a listed property. Our cover includes additional clauses to make allowances for unique issues that may arise in the event of damage, such as archaeological finds and local authority intervention if overseeing repairs.

As with all property insurance, the declared value for buildings must represent the cost of reinstatement and NOT market value.

We operate through a delegated authority from the insurers and have an online system which produces a certificate per property. As soon as cover has been confirmed we are able to forward a copy of your certificate and policy wordings within 24 hours.

We offer flexible monthly premium payments where required, please contact us on 01789 761660 for further information and we will be happy to confirm various options that best suit your needs.

All insurers will review past claims history, but we recognise that incidents do happen!  When we review the insurance for a prospective client, we assess your past claims history, discuss with you the cause of the loss or damage and establish what measures are now in place. Our insurers underwrite on a portfolio basis so if you have a problem property(s), this is taken into consideration within a portfolio.

At Pi-Property we are very proud of our award winning in-house claims team that is rarely matched elsewhere. We have delegated claims authority provided to us by our insurer partners to handle claims on their behalf.

This enables us to take control of the whole claims process. 

• Reducing the lifecycle of the claim
• Minimising disruption to occupants
• Taking out the hassle factor of the repair process.

Our experienced, knowledgeable claims team are immediately on hand to ensure a prompt efficient service for any claims that arise.