Terrorism Cover
It’s not something many of us like to think about, but the threat of terrorism can’t be ignored – in 2020, there were over 10,000 terrorist attacks worldwide. Terrorism insurance provides coverage for any loss or damage resulting from terrorist actions. The likelihood of terrorist attacks is difficult to predict, and the potential liability is enormous due to the continuous underlying threat. Some mortgage providers may refuse to offer a loan if you don’t have a terrorism insurance policy taken out. It could also be written into the lease. For these reasons, it’s important to consider this type of insurance when owning or managing a property.
What is an act of terrorism?
An act of terrorism is the unlawful use of violence and intimidation, especially against civilians and property, in the pursuit of political aims.
Do I need to have Terrorism Cover?
You may not have considered purchasing terrorism cover for your property, especially if it’s located outside of a city or a known target area. However, it may be where terrorist activity is being planned.
While the probability of a terrorist attack occurring in your area may seem low, the potential consequences can be severe. Without adequate insurance, the Directors of the Residents Management company could be held personally responsible for any damages or losses resulting from such an incident. With this in mind, investing in the appropriate cover is a small price to pay compared to risking your personal assets.
What does this cover?
Terrorism would cover you for any loss or damage due to terrorist actions. The odds of terrorist attacks are a very difficult thing to predict and the potential liability is enormous as it is a continual underlying threat. Some mortgage providers advise that Terrorism Insurance is a requirement and without this additional level of cover they may decline to offer a mortgage loan. Not only can it affect a mortgage offering, it could be written into the lease.
Our services
Along with our specialist block of flats insurance, we can help you with a variety of other policies and services.
Buildings Insurance
Directors & Officers Insurance
Engineering Insurance & Inspections
Get your Terrorism Cover quote today
Protect your property from the unpredictable, it couldn’t be easier to get a quote from us. To find out how much it would be to insure against Terrorism damage, click the ‘Get a Terrorism Cover Quote’ button now.
