I’ve recently helped with an Embassy Insurance for a beautiful property in Holland Park. Alternative names for this specialist cover are Mission Insurance or Consulate Insurance.
The insurance problems started when it took their insurance claims department three weeks to get a builder to inspect the damage when they had a leak and that upset their visa arrangements. With it being a large listed building there had to be enough cover in the policy to repair it to exacting standards and, more importantly, pay for alternative premises whilst the repairs are underway. As you can expect they also wanted to consider terrorism insurance.
They’re now very happy with a policy that covers listed buildings and, using my network, I found details of a specialist builder with the ability to react quickly which will speed up insurance claims.
My top tips for Property Owners (even if it’s their own home) are to ensure they know exactly who to call for urgent advice when an insurance claim occurs and check that the cover for funding alternative premises meets their requirements – before they need it.
Feel free to forward this to people you know that work in an Embassy or a landlord that has the need for Property Owners insurance (sometimes called buildings insurance). Some insurers consider large converted buildings require blocks of flats insurance.
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