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Insurance

Insurance

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Immediately below is a guide to the various types of landlords insurance.

Buildings Insurance

Most insurance companies offer broadly similar policies although many owner-occupier policies (particularly those arranged through your mortgage company) are invalidated when tenanted. Buildings insurance will typically cover damage which results from fire, weather, malicious damage, burst pipes, impact, theft, damage to underground services and property owners' liability. Theft is restricted to fixtures and fittings and therefore excludes soft furnishings, televisions etc. Accidental damage or loss of rent for a limited time period may also be covered, although some policies will only include this at an extra cost or with contents insurance.

Buildings insurance is not a legal requirement however the enormous implications of a total rebuild means all landlords take up buildings insurance, even the largest. 

Downloads

Please click here to download the Aviva policy

Contents Insurance

This offers the same cover as for buildings insurance except that it covers soft furnishings, carpets, electrical equipment etc. Far fewer of our landlords consider this necessary.

Rent Guarantee/Legal Protection/Rent Protection

This can cover legal costs in taking action against a tenant, debt recovery and the cost of alternative accommodation should a tenant refuse to vacate. For higher premiums rent arrears may be paid by the insurers and even repair costs can be insured.

The majority of tenancies are conducted satisfactorily. Tenants' circumstances can change so we are unable to offer any warranties, however we do pursue arrears if they occur. This means we take great effort to avoid them in the first place.

Should you wish to have rent guarantee insurance we can assist you with this. You may prefer this option if you are a single unit owner, reliant on rent to pay your mortgage and unable to afford a rent void or wait for legal proceedings to obtain the rent.

We have professional indemnity and client money protection insurance to cover our own services.

Please click here for more information
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