Focus 127 – SSAS and SIPP Property Insurance
SSAS and SIPP Property Insurance
We are pleased to announce that with effect from 1st February 2020 we are launching a new property insurance scheme for all new acquisitions after that date. This enhancement to our property acquisition service will assist clients in ensuring they have adequate and appropriate insurance cover.
To arrange, oversee and administer our scheme we have appointed Erskine Murray Insurance Brokers, a firm with a proven track record in developing similar schemes for pension providers and wealth managers.
The scheme’s policy wording has been benchmarked against other insurance products in the market and provides very comprehensive cover over, and above that found in “standard” policies and is tailor made for Talbot & Muir’s SSAS and SIPP clients. By way of example, our scheme will provide, as standard, £10 million property owners’ liability, 36 months’ loss of rent, terrorism cover, and inclusion of all perils agreed within any active lease.
We believe one of the greatest risks for property owners is inadvertent under-insurance and by introducing realistic minimum requirements all parties can have confidence that an appropriate sum insured is established.
Our scheme is non-mandatory, however for those who prefer to arrange their own insurance we will be asking Erskine Murray to conduct due diligence on any alternative policy to ensure adequate cover levels and consistent quality is achieved. Where a client elects not to join our block policy, there will be a charge of £150 + VAT p.a. This fee will be waived if a client takes up cover in our scheme with Erskine Murray.
We are sure you will agree this new scheme is highly beneficial in providing an added value function that will assist and support your clients in accessing comprehensive and affordable insurance.
Should you require more info please call or email our adviser support team Tel: 0115 841 5000