Landlords Insurance

There are several types of insurance that are relevant to a landlord.

Building Insurance. Before letting your property it is important to ensure the building insurers are aware of the fact you are letting your home. It may affect the premium.

Contents Insurance.  Even in unfurnished properties it may be a good idea. Whilst the tenant is responsible for costs should there be accidental damage caused by him or her through negligence or accident, if the fault is not the tenants (such as a burst pipe, or a flood, 3rd party accident etc) then a contents insurance would cover the landlord for the replacement of carpets, curtains or fittings not covered under buildings insurance. Many insurances also indemnify the landlord against a tenant claiming negligence if an accident was potentially caused by a fault not spotted by the landlord (worn carpet, faulty building work etc).

We have access to companies who offer insurances to cover most risks and whilst we are unable to offer advice under the FSA (Financial Sercives Act) restrictions or recommendations, we can refer you to companies who may be able to assist.

Rent protection. Landlords also may wish to consider having rent and legal costs protection so that once a tenant is found, the rent is guaranteed and in the worse case scenario should there be a problem, all your legal costs, court fees and solicitors expenses are covered.  This is particularly relevant in the first six months of any tenancy when irrespective of referencing, the quality of the tenant is established. Simply lets can guarantee to provide this more cheaply than any other agent.