UK properties and potential letting problems.
As many of you will be aware, JWS has a successful UK Broking operation, handling business and individual insurances for a large number of our African clients who may have assets there.
Many of our clients have holiday homes, holiday lets or general let properties, which require specific insurance and something we are happy to assist with. Of course, owning a property abroad can come with a few headaches and worries, including issues with tenants over unpaid rent, damage caused by tenants, legal disputes, etc. On most occasions, there is a need to appoint legal representatives to assist, and this can be costly and frustrating.
We are pleased to advise, that there are new products on the market, which JWS is promoting through MSL Legal Expenses. Fundamentally, the policies provide you with legal fees to deal with most disputes, including rent recovery, tenant eviction, tenant property damage, and as an optional extension, it can provide rent guarantee, i.e. if your tenant doesn’t pay, insurers will (subject to terms and conditions).
Below are links to the various policies available, and below is an idea of the annual costs for each of the policies:-
|MSL Legal Expense Product or Service||Net Rate|
|Residential Landlord Legal Expense Insurance||£30.00|
|Residential Landlord Legal Expense Insurance with Rent Guarantee – £1,500.00 PCM||£140.00|
|Residential Landlord Legal Expense Insurance with Rent Guarantee – £2,500.00 PCM||£160.00|
|Commercial Landlord Legal Expense Insurance||£60.00|
|Holiday Home Legal Expense Insurance||£10.00|
So, if anyone has a UK property that they are interested in exploring the covers we can provide for you, please get in touch.
Email:[email protected] or Tel: + 254 (0) 709 455 000
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