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Entries close 31 March 2021.
Your rental property can be a great asset – and is likely to be a considerable investment. Therefore, you need to protect it with specialist landlord insurance.
One of the most important aspects of owning a property is making sure that you have the right insurance cover.
Landlord insurance can provide cover for events including fire, flood, accidental damage as well as malicious damage by tenants, theft, unpaid rent and legal disputes. A standard home insurance policy will not protect you if letting your property.
Most mortgage companies will insist that you have Landlords Insurance in place.
When you are leasing a property, you could lose your rental income if your tenant must relocate after a covered peril. Check your private landlord insurance policy to see if it covers loss of rent in such circumstances.
Property owners’ liability covers you for costs and damages — including medical — if a member of the public, or someone visiting your tenant, is injured while on your property.
As a residential landlord, you also have a variety of legal responsibilities. Make sure you know what your responsibilities as a residential landlord are in order to avoid fines, tenant disputes or even prosecution.
Talk to FOCUS about your responsibilities as a landlord. Our experts can help you mitigate your liability and property risks with the right landlord insurance cover.
There’s no legal requirement for a landlord to take out a dedicated insurance policy. However, if you have a mortgage on your property it’s highly likely that your lender will require you to take out insurance before you take on tenants.
A conventional home insurance policy is unlikely to protect you if you choose to rent your property out. In order to stay protected, you should consider specialist landlord insurance.Landlord insurance can include liability insurance, buildings cover, and loss of rent.
If you would like to discuss your current property owners or landlord insurance arrangements, please do not hesitate to contact us.