The nearest many householders get to a property insurance broker is logging on to a price comparison site and checking who offers the cheapest policy. However, for those who actually invest in property – whether commercial or residential – the situation is rather more complicated.

Here Maunder Taylor, a property insurance intermediary with clients in Barnet, across North London and into Hertfordshire, outline some of the key reasons why landlords might need some expert help.

You Don’t Have the Expertise

If you purchase a property as part of an investment portfolio, then you will need additional clauses in your insurance policy. This is particularly true of managed buildings such as blocks of flats; here you will have to consider if it’s worth having cover such as Common Parts Contents (which covers items like carpets and sofas in communal areas) and Employers’ Liability (so you are covered if you have any employees, such as gardeners or handymen, who are injured while working onsite).

This requires a lot more knowledge than the average homeowner normally possesses. For these types of additional clauses, it’s worth calling in the services of an expert property insurance intermediary.

If You Own a Historic Home

If you own a listed building or a property within a conservation area, then any structural problems, or potential alterations or extensions, become a lot more problematic than for a more modern home. This is because local planning authorities have regulations in place which are designed to protect a property’s period features.

As well as advising on buildings insurance policies, any good intermediary should also be able to advise on matters such as rebuild costs, the availability of materials and to recommend craftspeople who are able to carry out the work. Contacts in the local planning department would also be an advantage.

For Financial Reasons

Employing a property insurance intermediary can work out much more cost-effective in the long run than trying to sort everything out yourself. It’s very easy to be over-insured (which means you will be paying too much for your premium) or under-insured.

If you fall into the latter category, it could end up being even more expensive if the claim settlement won’t cover the cost of any reinstatement or building repair works. An intermediary will ensure that you have the right amount of cover (and hopefully at a competitive price as well).

Maunder Taylor – a Property Insurance Intermediary in Barnet

Maunder Taylor has three decades’ worth of experience in the property insurance sector. Our insurance department was set up in 1992 and in 2005 we were registered with the Financial Services Authority (now the Financial Conduct Authority).

We pride ourselves on giving out fair, impartial advice and always look to decipher any jargon for any of our clients. Our dedicated in-house team will ensure you always have a regular point of contact, and we have a wide breadth of knowledge of matters ranging from rebuild costs, period properties and any legal developments.

We also offer a residential block management service for clients across London and Hertfordshire. If you are the landlord for a block of flats, not only can we sort out your insurance policies for you but also take care of many other issues as well. We can look after any communal areas such as kitchens, lounges and gardens, ensure you are up to date on all your paperwork and make sure you meet all your legal responsibilities, such as fire, gas and electrical safety.

If you would like to know more about any of our services, simply follow this link and fill in the online form. You can also call us on 020 8446 0011 (our Whetstone office number) or our Potters Bar office on 01707 665 666 (if you need to get in touch with our residential management department).