Reasons Why to Consider Falcon Insurance as the Right Partner for You in Commercial Landlord and HMO Insurance Matters

Let’s say you own or manage a house in multiple occupations or a commercial space; there are various reasons why you would want to safeguard your investment. Insurance, for instance, helps in preserving both the property and its tenants. As a landlord, you may come across two types of coverage: commercial landlord insurance and HMO insurance. They are both crucial. However, they have different objectives, and therefore, it is important to comprehend the specific aspects of each.

Business Protection with Commercial Landlord Insurance

Any owner of an office building, retail space or warehouse is required to have commercial landlord insurance. It is a kind of coverage that helps in safeguarding the property from certain unforeseen risks like fire, vandalism, or natural catastrophes. The coverage extends even further, as it offers liability purchase and protection in case of injury to a tenant or visitor on the property.

Consider a situation in which a tenant unintentionally ignites an office space they rented. You could incur huge repair costs without commercial landlord insurance. This way, the policy can cover repair costs, which in turn reduce the business costs and allow you to run your company seamlessly.

Moreover, most commercial landlord insurance offers some form of rent coverage loss. This provision ensures that if your building is uneconomical to occupy due to damage, you still can receive rental income to ensure your financial stability is not hurt.

HMO Insurance: Owners in Control of Shared Rentals

HMO insurance is structured to cater to the distinctive risks experienced in regard to properties that are rented out on multiple spaces by multiple tenants, especially those of shared accommodation properties. With Space for More than One Tenant in Combined Areas, The Aad of 2010 saw an increase in demand for grade 2 and HMO-style rental housing within urban environments due to the high population demand to live in the city centres and the tightening of regulations about development. These houses have kitchens and bathrooms shared by the multiple tenants who occupy the home.

HMO insurance offers coverage for specific risks that are associated with shared living. This feature distinguishes it from other types of landlord insurance for normal residential owners. For instance, this coverage generally includes the communal areas of the property, like hallways and kitchens that an ordinary landlord’s policy would not pay for.

In an HMO, tenants can have a very diverse range of lifestyle habits, which means that the risk of causing damage is higher. For example, if one of your tenants accidentally forgets to turn off the stove and starts a fire, all the other tenants could be affected by the fire even if they weren’t directly responsible for it. When it comes to these types of incidents, the HMO insurance will make sure you do not have to deal with them and be left with several penalties with regard to costly repairs.

Why Go With Falcon Insurance?

We believe that landlords have different requirements at Falcon Insurance. So whether you own a commercial property or run an HMO, we have specialized insurance that would make sure the insurance for your properties is up to scratch. While our HMO insurance ensures that the shared parts of your accommodation are protected, our commercial landlord insurance policies cover against firers.

So, under all circumstances, both financiers will ensure you remain calm and fully assured as you’re insured. So partnering with Falcon Insurance makes sure you get professional guidance, competitive rates, and customized coverage that suits your interests.

Final Thoughts

One of the crucial steps so far to be a property owner is picking the right insurance, that is, if you want to be one. Now, with Falcon Insurance, it’s policy time; rather, for them, it’s with you for a long time, and together, you defend your assets. Be it any commercial insurance or HMO insurance, through Falcon Insurance, your asset will be properly secured with the right insurance and the people renting your space will benefit from this when their safety is considered first-hand.

Delay no further; give us a call or visit us so can weigh the options of how we really do insurance. That way, you will also be at ease with yourself as a property owner because the world is yours.