Salvation Army Insurance
Perhaps one of the best known charities in the UK, the Salvation Army has developed a business in the sale of insurance primarily to churches and other charitable institutions. This is traded under the Salvation Army’s wholly owned subsidiary the Salvation Army General Insurance Corporation Limited (SAGIC).
Involvement in the insurance market began in 1909 and throughout that time the profits from such business activity have been applied to the Salvation Army’s charitable works at home and abroad.
The Salvation Army was founded in London’s East End in 1865 by the husband and wife team of former Methodist minister William and Catherine Booth. The organisation was originally called the East London Christian Mission, but soon changed its name to the Salvation Army – and developed a structure and ethos similar to some military organisations.
The Salvation Army is one of the largest providers of social aid in the world, setting up community centres, organising disaster relief and working in refugee camps. It operates in 126 countries and is reported to be helping 32 million people in the United States, alone, where a survey conducted in 1994 placed it 4th amongst the most popular charities and not for profit organisations in America.
Salvation Army officers and volunteers are typically among the first on the scene following any major international disaster.
If you are the owner of buy to let property, landlord insurance may offer the means of safeguarding the financial value of your investment in the property, together with defences against potential claims of negligence and compensation in the face of lost rental income.
In other words, landlord insurance typically focuses on the following areas of protection:
- cover for the premises and their (landlord’s) contents against such risks as fire, flooding, explosions, storm damage, impacts, vandalism and theft;
- public liability or property owner’s liability cover to defend claims of negligence from members of the public, tenants or their visitors;
- employer’s liability insurance – typically as an optional element of cover, if the landlord employs other people in the running of the business; and
- compensation (up to prescribed limits) for loss of rental income following an insured incident that renders the property unfit for letting.
There may be other elements of cover provided, depending on the particular insurer chosen or any optional features added to the standard policy.
Salvation Army landlord insurance
The Salvation Army General Insurance Corporation Limited does not actively market landlord insurance, although it does arrange household insurance packages and invites enquirers interested in other forms of general insurance to contact them – for possible referral to other insurers.
It might be noted, too, that the Salvation Army’s own “ethical” bank, Reliance Bank, offers a range of buy to let mortgages for those aspiring to become landlords.