Local News at Coversure Kennington

Last week the UK has seen winds between 60 – 70mph and in Wales winds up to 87mph have been recorded. Police in some areas are urging motorists to only use their cars for essential journeys as the high winds could cause fatalities.

Many of us have felt the effect of the strong winds this year, some more than others, but insurance broker Rajan Amin from Coversure in Kennington London has clients to be mindful of the effect the weather can have on their properties and the claims that could be brought against them.

“Already there have been several claims due to the high winds. Many premises have been damaged and there have been cases where this damage has caused injury to members of the general public as well as motoring claims where high sided vehicles have been blown over and damaged.”

“We expect more claims to come in over the next few days and weeks.”

So will your insurance cover you for wind damage? Rajan Amin has provided some common questions and answers below:

Q Am I covered if my property is damaged by strong winds?

A – Provided that Storm cover is included as an insured peril within the terms of the contract then in broad terms –Yes. However it must be declared as a storm by the Met Office, and the property must have been maintained in a good state of repair. Cover does not apply to walls, gates, fences, sheds and greenhouses.

Q The winds caused a neighbour’s property to damage mine; whose insurance should I report the claim to – the neighbour’s or mine?

A – Initially it would be quicker to get the damage dealt with by claiming off your own policy. If you opt to pursue a claim from the neighbour then you should prove negligence against them which can take time.

Q If my property damages someone else’s property due to the winds; will my liability insurance cover me?

A – Yes, but only if the third party can prove negligence against you. Storms are often an ‘act of God’ and not your fault. However, if you fail to keep your property in a good state of repair this could invalidate your insurance policy.

Q Will my Public Liability insurance provide me with legal assistance in the event of personal injury claim against me?

A – Your own insurers will handle a legally presented claim against you under the terms of the policy.

Q If my property is damaged, can I start making repairs to prevent further damage or will this affect the claim?

A – You can, but only to mitigate or try and prevent any further losses or it getting worse by neglect. This would be seen as being pro-active by your insurers. However, make sure you don’t start appointing contractors without getting competitive written quotes approved by the insurers. Remember that unless your insurers agree to the quote and confirm in writing, you could be spending your own money!

In many cases people are wondering what can be done to prevent this damage. Amin went on to say “Although the weather is unpredictable and there is only so much we can do to prevent damage or injury to others, there are some basic steps that can be taken to minimise the effect.”

• Regularly maintain the outside of your property (inc. checking all signage is appropriately attached to the building.)
• Minimise the number of non-essential journeys for the business
• For essential journeys plan routes effectively to avoid areas prone to strong crosswinds including open areas and bridges.
• If a lorry is not carrying goods and has open sides make sure they’re open to reduce drag.

For more information on what to do in the result of a claim or for more techniques to minimise the damage caused by wind, it is advisable to contact your local insurance broker or insurance company.

On Saturday 19th November, members of staff from Coversure Insurance Services in Kennington tackled the 100 foot wall at the much loved iconic landmark on the south bank of the River Thames to raise money for charity. Abseiled down Battersea Power Station in London, Rajan Amin and his team raised a whopping £2,016 for the Stroke Association.

A stroke is a common and debilitating disease that touches many people in one way or another. The efforts of Coversure Kennington team really touched the imagination of their fellow branches, customers and friends. The original target was £1,000, and they are already over £2,000 and counting.

£150 can help provide a life changing Life After Stroke Grant to a person affected by stroke. It can help them buy a ramp so they can access their home more easily and be able to live a more independent life.

Delighted with the result, Mr. Amin said “What an amazing total. When we first thought of doing this, I never for a moment expected we would raise such a fantastic amount of money for charity. I’d like to thank our customers, friends and the generous Coversure offices for their contributions. We are deeply touched by the reaction.”

Visit http://www.justgiving.com/Coversure-Kennington for more photos of the day

The award was presented to the Kennington branch for investment both in its new office and team; where Continued Professional Development (CPD) and Chartered Insurance Institute (CII) training is funded by the company for the benefit of its employees and long term its clients.

Rajan Amin, co-owner of Coversure Insurance Services in Kennington with his wife Hina Amin, fought off thousands of entries to be short listed for the AAA Platinum award for Business Person of the Year at the Asian Achievers Awards at Club Wembley, Wembley Stadium in London. The Asian Achievers Awards is one of the most prestigious awards ceremonies in the Asian business community and well respected by many. Many of Britain’s finest Asian business men and women were there as well as guest of honour the Right Honourable Vince Cable MP, Secretary of State for Business, Innovation and Skills.

Despite narrowly missing out on the award Rajan was recognised in the awards ceremony magazine the winner was Dr Rami Ranger, MBE, FRSA, a businessman who has been honoured five times by Her Majesty the Queen.

Rajan has been the Franchise Holder of General Insurance Broker, Coversure (Kennington) since it was opened in 2002. Prior to this he was co owner of another Coversure franchise in Wimbledon.

He has over 18 years experience within the financial and insurance services industry and is a member of the Chartered Insurance Institute (CII) holding a Certificate in Insurance. He has also completed and passed the London Landlord Accreditation Scheme (LLAS) in November 2007 and was instrumental in the conception and development of a unique Landlord’s Rent Guarantee Insurance.

Rajan is well respected in the local and Asian community and is actively involved with many business networks including BNI, TiE, FSB and Business Link. Rajan is currently the President of the Rotary Club of Balham.

The well publicised coverage of the riots has recently led many business and property owners to look into their insurances and question what type of cover is in place for such events. Property owners need to be aware of their policy restrictions governed by the Riot (Damages) Act. Under the Act, individuals and business owners who have suffered losses due to rioting can make a claim under their insurance. Insurers then have the right to recover the cost from the Police, who they can claim have failed to keep the peace.

In order to comply with the Act, most Property Insurance policies have strict reporting procedures on riot damage claims. The majority require notification of the claim within seven days of the incident to allow them to reclaim the cost of damage from the relevant Police authority. Indeed with any claim, the sooner it is notified to the broker or insurer, the better it can be dealt with and the higher the chance of the insurer being able to fully reimburse what has been lost.

This is a good time for people to consider their insurances and whether their cover is sufficient. At Coversure Kennington we sell policies based on their content, the service provided by insurers in the event of a claim and offer advice specific to each client we speak to. As people are looking to save money, it is crucial now more than ever to ensure the insurance they have is not only competitive but comprehensive as well.

Coversure Kennington’ celebrated moving to a new, larger office (6 doors down from the old one) on Saturday 16th July 2011. Over 50 clients, guests, family and friends joined the team to mark the beginning of a new phase in the business.

Everyone who attended was able to meet the team and put faces to names!
Celebrate our 10th year with Coversure (The group celebrates its 25th anniversary this year!)
See our vision and plan for the next 5 years
Tell us in person how we can improve our service

Everyone who came on the day was entered into a free prize draw to win £50.00 worth of M&S Vouchers – Vipul Patel of Assured Services Limited was the winner.

Click here to view Office Open Day 16 July 2011 Photos

Please feel free to pop in and visit us anytime Mon to Fri 9 to 5:30

Last winter was one of the coldest this county had seen for over 30 years. The Met Office reported in the spring that the average temperature during the winter was approximately 1.5°C about 2°C lower than normal. With this in mind, it makes sense to ensure that you protect your property from server winter weather conditions.

High winds during autumn and winter can cause a lot of damage to your property. Ensure that your roof tiles are secure. This will minimise the change that you will experience water damage in the loft/roof space. Clear your gutters and drains regularly of leaves and dirt. A blocked gutter can cause overflow, resulting in flooding on the roof and ultimately damp problems. Check that sheds and other outbuildings are weather tight, these can often be overlooked, but it is quite common to keep expensive equipment in a shed or garage. You should ensure that any satellite dish or TV aerial is fixed securely to avoid damage. Gardening is no fun in the winter, but don’t leave it unmaintained. A falling tree could cause a lot of damage your property or neighbours. Keep trees well maintained, remove dead or damaged branches and ensure they are not too near buildings and overhead cables. Maintain fence panels and gates, to prevent them from flying off in high winds.

It is not just the external parts of a property that needs attention during the winter period. Burst pipes and water damage are a common problem during the winter. As the temperatures drop, pipes can freeze and burst. Collapsed ceilings, damaged furniture and electrical appliances can be the result.

If visiting friends and family over the winter period, particularly over Christmas, don’t completely switch off your heating. While you may save some money on your heating bills, this is one of the main causes for frozen pipes. Instead leave you’re heating on a low temperature (e.g. 10°C) and you will substantially minimise the potential damage to your property. If leaving your property for a long period, simply turning off the water is not sufficient. There will still be a lot of water in the system, which can cause damage. Get a plumber to drain the water in the pipes and central heating system to remove the risk completely.

Your boilers and heating systems should also have annual check-up, to ensure they are safe and working properly. This will prevent them from breaking down while you are away, leading to frozen pipes. As well as ensuring your heating is left on and working properly, you should check your insulation levels, particularly in your cavity wall and loft insulation. You should also make sure that your pipes and tanks are well lagged.

Burglars are carried out during the Christmas period by opportunists as often a home is left empty, or your defences are down. Well secured entry points will discourage all but the most determined burglars.

Some insurers exclude risks such as theft and malicious damage after a property has been left unoccupied for so many days, or if security checks aren't followed. It is common for exclusions and restrictions to apply to home insurance. Ensure you understand your policy fully and your obligations regarding any security, heating and occupancy. For complete peace of mind, speak to a local insurance broker that will be able to provide advice and guidance on what insurance policy is best for you and help with any actions you should take to ensure you comply with your policy.

We are proud to have won the Commercial Lines Branch for 2010 at the recent Coversure AGM held at the Leicester Marriott Hotel. The event is attended every year by franchisers, partners, team members and insurers, with well over 400 people at the grand evening gala this year themed as Medical Knights.

The photos shows a very happy Rajan collecting our awards from Mark Coverdale our Chairman for the Commercial Lines Branch for 2010 and achieving £100,000+ premium business in one month in 2010

 

 

 

The Chancellor, George Osborne, announced in the latest spending review that spending next year on flood defences would be cut to £2bn over four years, as opposed to the last review where spending was set to £2.15bn over a shorter three year period.

According to the Parliaments website, the floods of 2007 were the biggest peacetime emergency we have had to deal with since WWII, and cost the insurance industry £3 billion.

Fortunately, following these floods an agreement was struck up between the Government and the Association of British Insurers (ABI) to ensure that flood insurance remains widely available. This agreement is to remain in place until June 2013.

In the agreement members of the ABI have committed to continue to make flood insurance for domestic properties and small businesses available, providing the Environment Agency has announced plans and notified the ABI of its intention to reduce the risk for those customers at risk from flooding.

Despite the agreement, the British Insurance Brokers’ Association (BIBA) believes there are properties that will be excluded and the owners will need specialist advice from an insurance broker.

If nothing is done and a property cannot be insured, then it less likely to be mortgaged, making it very difficult to buy or sell, and causing huge financial difficulty if the property suffers a loss.

Coversure Insurance Services said “This agreement comes to an end in 2013; there is a real need for the Government and Insurance Industry to agree a long-term plan to combat the increased risk of flooding over the next few years”

“Even if your property is insured against flood damage, if you live in an area that is prone to flooding, it is a good idea to create your own plan of action, should a flood occur. Your plan should take into consideration actions to take before, during and after a flood has occurred and everyone in the household should be familiar with it”

You can find details on what steps to take, if you are prone to flooding in your area, on the Directgov website website in the section on “Preparing for a flood”.

- it’s the same thing, isn’t it?

Coversure Insurance Services highlights the important differences between a standard Household or Buildings Insurance policy and a specifically designed Property Owners or Landlords Insurance policy.

As many new property owners look to buy-to-let for various reasons, whether it be through necessity to help with mortgage payments or though choice in an attempt to get onto the property ladder it is important to ensure the correct insurance policy is taken out. By taking out a Property Owners policy, you will be covered for most normal eventualities covered by a standard Household policy including; buildings insurance, covering the fabric of your property against certain “perils” which will be described in your policy documents.

A standard Household policy will not cover you for your liability to other people using your property if they are injured or have their own property damaged due to your negligence. What’s worse, an ordinary household policy will usually contain clauses which will not cover you if the property is let out. Therefore, it is important to ensure that you have a policy specially aimed at a property which is let out. With a Property Owners policy, there are options to include rent guarantees and accidental damage cover. There are also normally options to insure the landlord’s possessions, and even the tenant’s possessions. Some policies even have an option to include legal advice and representations in disputes with your tenants.

Look out for restrictions in cover whilst the property is unoccupied. There are normally reduced levels of cover if your property is unoccupied for an extended period of time (e.g. 30 days). Also damage due to normal wear and tear or poor maintenance is likely to be excluded.

Don't forget that the amount you should insure is the cost of rebuilding, rather than the resale value of your property and if your property is near any kind of water, check that you have adequate cover against flooding. Some insurers will insure your property if you are in an area of flooding, but exclude damage due to floods.

For more information and/or advice on Property Owners or Landlords Insurance policies for buy-to-let properties, make sure you contact your local insurance broker.