Finance
Nov 2023
'Tis the season of policy renewals, the time when property owners have an opportunity to make sure their property insurance policies still meet their needs and expectations. One of the most notable opportunities this year is the opportunity to take advantage of competitive premiums and flexible terms.
Previously, property owners faced stricter market conditions, but this year is different. Insurance companies offer rates that are more favorable than in recent memory, allowing property owners to gain financial benefits.
The flexibility of terms and conditions is an added benefit. Instead of settling for a standard insurance policy that may not be a perfect fit for your property, you can now tailor terms to perfectly fit your specific situation. This means you can tailor coverage to the specifics of your real estate investment, whether it's commercial properties, residential complexes or rental properties.
In 2024, we will see a continuation of the trend in the insurance market, namely more mergers and acquisitions. While these consolidations affect the industry in different ways, there is one aspect that stands out: the risk of loss of personalized service. Mergers and acquisitions can lead to larger entities and more standardized processes, sometimes sacrificing the ability to reach out quickly and get instant answers. On the other hand, we remain committed to a fast and personal service. We are available 24/7 and provide a personal response within a day.
Every real estate investment is unique, and standard insurance policies don't always provide adequate protection. We understand that no two real estate investments are the same. That's why we've created special terms and conditions written specifically for property owners.
For example, our standard rental loss coverage spans a whopping 3 years. This means that your income is fully protected during construction periods. In addition, our policies cover clearance costs more comprehensively than standard solutions. The amount is not too low, so you don't have to worry about unexpected costs. And we don't exclude illegal activity, which means you're covered in situations where other insurance policies fall short.
Now is the time to take action and evaluate, optimize and compare your property insurance policies. Contact us to get a no-obligation insight into what benefits we can do for you.
Wondering what Base Insurance can do for you? Book a free 30-minute second opinion.
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