Buildings insurance - why do bother?

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nice guy
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I am in the process of reviewing the insurance policies on all my properties after several years of just paying Rentguard every year without too much thought.

The 2 changes I am contemplating are;

1. Block policy where several properties are on one policy.
2. Only insuring the properties where there is a mortgage.

My strategy has been never to claim on my building policies. Claiming is time consuming and increases the premiums next year. Increasingly I see them as really just for the benefit of lenders.
The time buildings are really at risk is when they are empty and Rentguard policies are strict and limited in the cover they provide to properties between tenants. I am a builder and could rebuild any of my buildings for a fraction of the "rebuild" valuation!

What do people think?
11/03/2014 09:46

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