May 25 2020 23 mins 2
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IN THIS EPISODE
Your host Steve Mitchell of The HMO Company talks with Martin Lunn from specialist asset protection company ProtectionSupermarket.co.uk about the three things you need to know about protecting your property assets.
Make sure you protect your property assets by tuning in to this insightful episode of The HMO Experience Property Podcast!
EPISODE HIGHLIGHTS
- Introduction [00:00 – 00:47]
- What Is Asset Protection? [00:47 – 03:03]
- Death And Taxes! [03:03 – 07:11]
- It’s Not Just For Portfolio Landlords [07:11 – 10:34]
- Can I Protect My Assets Via A Company? [10:34 – 12:35]
- Is There An Ideal Time To Do This? [12:35 – 14:00]
- What is A Trust? [14:00 – 19:36]
- Get Personal With Your Insurance Broker [19:36 – 22:45]
KEY TAKEAWAYS
- Critical Illness is a key cover that many entrepreneurs and self-employed people don’t think about. Critical Illness cover provides income for you and your family if you become incapacitated and unable to earn an income. This cover acts as a back stop to your inability to generate income.
- Ensure that you review your property protection policies frequently to ensure that you have adequate cover and that you are not overpaying for your protection. Also consider if any property alterations or extensions have been added to your policy cover and not left off and are not covered.
- Check that your HMO insurance policies have an adequate malicious damage cover should the worst happen. Don’t skimp on this area of cover.
- Key person insurance is simply life insurance on the key person in a business. In a small business, this is usually the owner, the founders or perhaps a key employee or two. These are the people who are crucial to a business, the ones whose absence would sink the company.
ABOUT OUR GUEST
Martin Lunn is the director of ProtectionSupermarket.co.uk, an asset protection company providing cover for Life Protection, Mortgage Protection and Critical Illness Cover.
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