Landlord Insurance

Landlords now have to follow the new lending guidelines stated by the Bank of England’s Prudential Regulation Authority. The rules involve measures that save the landlord from overstretching. They also require a lot of cross checking including the personal income of the landlord unlike previous rules which only checked whether rent received will suffice covering the mortgage. Previously the insurers used to dig deeper into the borrower’s details like living costs, income tax payments and credit commitments. However, now it will on both sides. Although, all landlords may not be following these rules as of now, soon these rules would be made official. The few of them which are already applying these guidelines go through the stress test to prove that they are capable enough to pay the mortgage payments at interest rates which are charged higher than the normal. The new rules will also apply to accidental landlords. As […]

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Landlord insurance is bought to secure your property including the fixtures, furnishings and building against any kind of losses after it is given on rent. It is about safekeeping the landlord’s belongings and contents along with the building. The insurance will pay-out if there is any kind of damage due to fire, storm, theft, flood and accidental or malicious damage. It is regardless of whether you rent your property for second income generation or for professional purpose. What is the need for landlord insurance? When you are physically not taking care of your property and have given it on rent then there are higher chances of it being damaged. A standard home insurance may not be able to cover the loss due to any kind of damage to the property, which includes the building and fixed to the wall kind of furniture. In case of any damage, you need to […]

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It is important to have a landlord insurance so that you don’t end up losing your property, fully or partially. If you are a first timer into the ‘to let’ business, then check out some tips for getting the best landlord insurance cover. By doing this, you can secure your property as well as avoid any kind of loss due to natural or man-made events. Consider these aspects in detail so that you can get the best out of your rental property and face no major issues due to tenancy. Tips for Getting the Best Landlord Insurance Cover : Building and content insurance is a must: For minimum losses, your landline insurance policy must contain insurance for the building and its contents. In any case, you insure just one of the two, then you cannot claim for any damages on the one you have left. Contents include the things apart […]

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Being a landlord for the first time can make you crazy. There are a whole lot of things to be done. From finishing legal obligation, property maintenance and even marketing, you will just end up doing lots of stuff. As a landlord, you need to keep a check on everything, be it the building or the contents. When given on rent these things have a higher chance of damage and thus, you need to make sure that the damage is minimised. Landlords should take care of the following: The safety of the tenants: Landlords need to keep an eye on the safety of their tenants. Be it a smoke alarm or a gas certificate, you need to arrange it in the property. Failure to arrange these basic safety measures may lead to legal action and even imprisonment. Arrange for an EPC: Make sure that your home is energy efficient. You […]

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Buying landlord insurance would help in recovering the cost of loss or damage of any kind. Your property is at risk of natural calamities, accidents and possible damages due to the tenant’s pets and children. Thus, it is better to get the building and your belongings insured even if you have the best tenant. It is advisable that you take out a comprehensive cover to guard yourself against any kind of losses or damages. Covering your property and its contents is a must even if you have to pay higher premiums. There is plenty of money saving tips that can help reduce the landlord insurance premiums. Tips to help reduce your landlord insurance premium: Club all landlord policies together: There are separate covers for building, contents, accidental damage, rent guarantee, liabilities and more. It is advisable that you combine these covers under one policy. This will make way for single […]

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Landlord insurance is a specially designed assurance for rental properties. It is useful for cover for any kind of damage to the rental property. Be it the building or the contents, your belongings are secure if you take out a landlord insurance policy. For this, an ordinary home insurance will not be enough. You need a cover against accidental, natural and man-made damage to the property. It will also cover the damage done by the tenants. Thus, it is important to have a landlord insurance cover so that you can be relaxed that in the event of any kind of accidents, the losses will be paid out by the insurance provider. Types of landlord insurance: Building insurance: This type of assurance keeps the building insured against any kind of natural and man-made damage such as fire, floods, earthquake and accidents. Once insured, such losses will be paid out by the […]

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Read the most frequently asked questions about landlord insurance policies; see the answers, compare quotes and find the best deal to suit you. What does landlord insurance mean? As a landlord, whether renting property as your main business or as a second income, you need to have cover to protect your building, tenants and your rental business. This is known as Landlord insurance. Why is landlord insurance important? When you rent out property, it could mean it is at greater risk which a regular home insurance policy will not cover. What should I include on my landlord insurance policy? If the property you rent out is furnished, cover for your contents or any items you own is your responsibility; this includes fixtures and fittings. Check to see if the following are included: Cover for loss of rent Cost of alternative accommodation Public liability cover Property owner’s liability cover Replacement of […]

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