Anyone renting out property faces possible problems that can result in huge expenses. Landlord building insurance is able to help protect you whether you rent out a property to students, have bought to let or if your property is occupied or unoccupied. It’s important to ensure you have the right type of cover, and that you can find a policy which is affordable. To do this it is often best to speak to a broker who is able to compare all the best deals and give you unbiased advice on which premium to choose for your requirements.
Protect Yourself from Natural Disasters
Rented properties are at risk of damage caused by fires, storms, earthquakes and flooding. Repairing the damage can be very costly, but it is possible to find landlord building insurance that will cover you for all of these natural disasters. You can also be protected with public liability and employer liability as well as option extras which can be added onto your bespoke insurance policy including:
- Fixtures and fittings
- Loss of rent
- Accidental damage
- Legal expenses
Be Prepared for the Worst Case Scenarios
Having these optional extras is a great idea to help recover loss of income if tenants don’t pay their rent or if they cause damage to the property, whether accidental or not. Even tenants with the best possible references may cause problems. If tenants experience financial problems you don’t have to be affected, simply put in a claim for loss of rent and have the money put in place to ensure you are able to cover the costs you have incurred. This is vital if you use the income from the rent to pay off the mortgage or to cover your own expenses.
Finding the Best Deals
There is no need to dedicate a whole evening or longer to find the right type of cover. Use the insurance brokers who have specialised knowledge on finding landlord building insurance. They will be able to compile the best types of cover and customise a policy to suit you perfectly. Receiving a quote can take as little as five minutes, and from there you can apply and sign up within minutes.
Don’t pay more than you need to on your landlord building insurance . Seek professional advice and protect yourself from the risks associated with being a landlord.