Camelot Property Insurance Solution®-Reduce Your Insurance Premiums
The Camelot Property Insurance Solution® is an innovative insurance policy. This unique service allows property owners to fully insure their vacant properties (‘all-risk') during the time they are vacant! The policy combines the efficient Camelot SolutionTM, which tackles deterioration, squatting and vandalism, with extensive insurance at a lower premium than when the property would be in normal use. As a result your financial risks will no longer increase when your properties become vacant.
The Benefits For Your Property
Insuring an unoccupied property can be an expensive business. The risks posed to empty properties are significantly greater than those faced by occupied homes. As a result of this, insurance companies increase their premiums and in some circumstances, may not provide cover altogether as the risk posed is too great.
The Dangers
At present, there are instances where an owner may deliberately misrepresent material facts when they apply for property insurance. Once the owner decides to make a claim, the insurance company may refuse to pay out entirely and cancel the policy. For example, if an owner stated that their property was occupied when it actually wasn’t, in order to gain a more favourable premium, the insurance company may well consider this an act of deceit.
The Solution
Using the Camelot Solution in association with Endsleigh Insurance can considerably reduce the cost of maintaining an unoccupied property by placing our renowned live-in guardian system into the property. The guardians care for the property like their own home and this reduces:
- The frequency of payouts from the insurance company, which may affect your no claims bonus.
- Squatting
- Maintenance issues
- Damage arising from natural causes
The Result
This results in an occupied property, which insurance companies are willing to insure with lower premiums.
