How important is landlord insurance?

November 4, 2011

CIA Let Property Blog

With there being so many steps to take and do many laws and rules to abide to it can be stressful and time consuming becoming a landlord.

Times are tough at the moment and more people can only afford to rent properties now and are not buying. With that, buy-to-let mortgages are becoming more popular with landlords over the last year. With there being so many steps to take and do many laws and rules to abide to it can be stressful and time consuming becoming a landlord.

One out of many of the rules you should follow is to keep your property well maintained, get your gas appliances checked by a qualified gas safe registered professional.

With the Olympics coming up next year, many people in the UK are taking advantage of the rental market and are renting properties for a short period of time, these landlords must also make sure they take the nessessary precautions to make the let term run smoothly.

The demand for rental property at the moment in the UK is extremly high, with more and more people struggling to get their feet onto the property ladder. Research that was carried out recently has found that more than 4 out of 10 landlords experienced a tenant demand in the three months up to August 2011. Landlords are expecting the rental market demand to rise with 49% expecting this.

So do you need landlord insurance? This is very important to think about, with the amount of things that could go wrong and the problems that may arise we would advise your to be covered for any possibility!

The type of insurance you get may also depend on the type of property you have. Terraced houses have been the most popular recently followed by flats and then bungalows.

Landlord insurance can be used on one property, or if you have a multi property portfolio it can cover all of these. You can also have different tenant types ranging from DSS to Asylum Seekers but this will make a difference to your premium.

The type of insurance you get may also depend on the type of property you have. Terraced houses have been the most popular recently followed by flats and then bungalows.

With a wide range of cover out there it is important to pick the right one for you. Landlord insurance could cover you if your property becomes damaged in anyway and you need financial cover for any outcome.

Consider all of your options, anything could go wrong while renting out a property, make sure you are covered and have the correct landlord insurance policy.
We hope you found this information useful. Please remember to use CIA Insurance when you or your family and friends need motorcycle insurance, landlords insurance or commercial insurance.

 

Source – fulham chronicle

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