Protect your property investment
Whether you let a sole property or run a wider portfolio, we can arrange a policy that suits the scale and nature of your operation. Your policy will account for a wide range of factors which account for both your properties and the business side of things, including protection against liability claims and if your tenant fails to pay their rent.
Whilst it’s not a legal requirement to have insurance as a landlord, if you have a mortgage on the property, your lender will most likely require you to show you have a suitable policy before you can let properties out to tenants. Furthermore, if legal proceedings are taken against you, the costs can quickly add up. With the right cover on your side, you can safely move forward and make those important decisions knowing that you’re protected.
- Loss of rent
- Buildings cover
- Accidental damage
- Fixtures and fittings
- Tenant default
- Weather damage incl. flood
- Fire damage
- Escape of water
- Property owners’ liability
- Unoccupied properties
Working with a range of leading insurers to compare competitive premiums, we’ll assess your situation to determine the exact cover you need – including increased policy limits, accidental damage and extra benefits such as legal expenses cover. Our service doesn’t stop when the policy is arranged. Our team can resolve queries, negotiate claims settlements and provide risk management advice to keep your business protected.
| How has Coronavirus affected landlords? |
| During the pandemic the Government introduced extra protections for tenants meaning evictions of tenants where banned. This ban went on to be extended on three separate occasions since it was imposed. The most recent extension on the 21st of September additionally required landlords to give tenants a six month notice period of eviction meaning no one would find themselves evicted before March 2021. |
| What can I do about a nuisance tenant? |
| Some tenants cause more issues than others. Issues such as causing damage to the property, refusing to pay rent or disputing a contract, with appropriate landlords insurance you can obtain cover for legal fees, repair costs and loss of rent. |
| How do I calculate my sums insured? |
| Many landlords assume their rebuild price is identical to the market value of the property. This isn’t the best way to understand the costs however as this doesn’t include the demolition/ removal of the previous property, cost of architects plans or the cost of materials and labourer costs. We recommend landlords use a rebuild calculator or a professional service to help them to determine an accurate sums insured figure. We have access to a rebuild cost assessment service with prices of just £102 so if this is of interest to you, please contact us now. |
| Escape of Water – The cold winter weather causes a pipe to burst in one of your properties resulting in a large escape of water and disruption for tenants |
| Fortunately the property owner had suitable landlords insurance covering them for damage caused by an escape of water, the cost of finding and fixing the leak was covered as well as the damage caused to the buildings. |
| Wind & Hail – A large storm causes a tree to fall onto your owned property destroying the roof. |
| With appropriate landlords insurance you will be covered for the damage caused by a large storm or extreme winds, the insurer will cover the costs of fixing the roof as well as any other structural or building damage caused. |
| Accidental Damage – Your tenant accidently causes extensive damage to one of the rooms of your property when a large piece of furniture falls breaking multiple windows and cracking the rooms floor tiles. |
| Accidents will happen now and again. Fortunately with landlords insurance the cost associated with replacing the broken furniture, repairing the windows and fixing the floor will be covered. |
