Blogger BlogNet9221

Even if you already own a block of flats, you may not necessarily have considered the most appropriate form of insurance to protect your interests and those of other interested parties, such as the leaseholders and their mortgage lenders. If you are new to the sector, there will be many areas that you need to think about before making any decisions about insuring your property.

Surely, buildings insurance is buildings insurance, isn't it? Well actually, the answer is 'not really'. Different needs arise when looking at 'non-standard' property and, in this case, blocks of purpose-built flats are quite unlike houses that have been converted or, indeed, ordinary homes.

This is because while the basics of cover are the same, insurance companies view the 'risk' differently - partly because the property may be built differently, or occupied by more than one family. If your insurance is not the right sort, you could find yourself with unpaid - or incompletely met - claims.

As the owner of a block of flats it can make sense for you to have ultimate control of the insurance, rather than leaving it to the leaseholders or tenants to do so. This is partly so that you can make sure cover is correct, but also so that there can be no debate over whether all parts of the building are covered. After all, if each flat were to be individually insured, questions could arise regarding whether the shared areas are insured.

Don't skimp on blocks of flats insurance; looking for the 'cheapest' insurance is almost always the wrong thing to do. Nobody wants to pay more than they need to for something that they hope will never happen; but it is important to be sure that your blocks of flats insurance will be there to pay out if necessary. If insurance companies fully understand the nature of the property they are covering, they will be more inclined to charge a fair premium, and to pay claims promptly should the need arise. And remember, it is not just you that could suffer if things go wrong. Other interested parties could well seek to take legal action against you if the insurance you have arranged fails to pay out and they are left without recourse to insurance.

Arranging blocks of flats insurance is not the same as insuring your own home; there are additional considerations. Ideally, you should seek professional advice from an insurance broker who has experience of the sector, as a result of already working with managing agents, residents associations and property owners. It is also important to ensure that you have access to additional, complementary forms of insurance such as Directors and Officers liability cover that can protect the interests of those running the management company.

So, when considering how to insure a block of flats, do your research, don't skimp and choose a reputable insurer who has experience and knowledge in this particular area of property.

When considering the advantages of a classic car, first and foremost are the financial implications of owning and running such a car. Purchasing and using a classic car as your main method of transport can save a considerable amount in motoring bills when compared to a typical modern car.

One of the areas that differs considerably between modern and classic cars is deprecation. This is perhaps one of the most frustrating facts for those driving a modern car - the knowledge that all of the money they spend keeping their car roadworthy is having no impact on its overall value. In fact, nearly all modern cars will depreciate a considerable amount during their lifetime. For example, a brand new, entry model VW Polo, purchased for just under 8000 will be worth a tad over 3000 in four years time, that's a deprecation of over 1000 a year!

A well looked after classic car thankfully, will not share this same painstaking truth, in fact in some cases, albeit rare cases, they even appreciate.

Secondly there's the insurance, which can work out considerably less when compared to a policy for a typical modern-day car. In most cases you will have to be over 25 years old to insure a classic car however, when you do, expect to pay no more than a couple of hundred pounds. This can be slashed even further if you opt for a limited mileage policy, which is advised if you do not intend to use your classic as your main method of transport.

Road tax is another area those driving classic cars reap the benefits of; as if their vehicle was built before 1973 then they are not required to pay a penny. This can save roughly 160 a year alone! It's worth noting that a tax disc still needs to be displayed, essentially just to prove that your vehicle had a valid MOT and insurance.

As you can see there is a great deal to be saved when investing in a classic car, with regards to insurance, MOT costs and overall car value. If you need classic car insurance, then the internet is an excellent place to source and compare quotes as well as finding out all you need to about classic car insurance.