Tag Archives: landlords contents insurance

Landlords contents insurance

April 13, 2012


Statistics* indicate that in England and Wales between December 2011 and January 2012 there were approximately 80,000+ burglaries.

Unless you have actually experienced a burglary yourself, it can be difficult to understand the frustration, anger and even despair that you can be left with as you survey the damage to your property and your missing and/or vandalised possessions.

No landlords contents insurance can possibly guarantee that you won’t suffer this appalling crime or that you won’t feel some of the above emotions.  What it may be able to do, of course, is try and help with some of the financial consequences.

This type of landlords insurance is relatively straightforward and may be familiar to most property owners.

If you are letting your property unfurnished, then you may question whether you need contents insurance at all.  In such situations though, it might be prudent to remind your tenants that they should be thinking about insurance covering their own furnishings and property on the site.

Don’t forget that although your landlords buildings insurance may cover fixtures and fittings, not everyone has the same definition of what is or is not a fixture or fitting.  You may wish to check that yours and those of your annual insurance provider are in-synch!

If you do have contents insurance because you are renting on a furnished basis, your policy may require you to take certain minimum security precautions and if so, these should be outlined clearly in the terms and conditions.

It might be useful to remember that your local police may have crime prevention officers who specialise in providing advice and guidance, as to how you may increase security precautions around your property.

Over the years, burglary statistics have remained stubbornly high.  There have been some initiatives, in parts of the country, that have led to significant improvements. Whether or not these can be sustained over the longer-term, however, remains a matter of debate between policing and social experts.

Of course, no landlord wishes to change their property into a fortress but a few extra precautions may reduce the risks of burglary considerably.

Note that, however good your security precautions are, if your tenants fail to use them then they may be no more than useless ornaments.  It might therefore be a good idea to incorporate within your tenancy agreement some sort of reminder or obligation to ensure that basic security precautions are taken when leaving your property unoccupied for even the shortest of periods.

*Source: http://www.ukcrimestats.com/National_Picture/

Continue reading...

Thinking about your tenants

March 20, 2012


Two stories* from early in the year indicate the ups and downs of the current landlord property marketplace.

The first relates to a survey which indicates that demand for rental accommodation is being driven up by approximately 8% due to migrant workers.

Although the situation is variable, depending upon which area of the UK you are discussing, the overall position appears to be that demand for rental properties continues to increase.

There may be many causes of that – of which migrant workers are only one – and other factors may include things such as people’s ongoing reluctance to commit to purchasing property against a backdrop of economic uncertainty.

The other tenant related piece of news is that a very large percentage of landlords have reported rent arrears and specific issues with certain categories of tenants.

Rising demand and rising rent levels are arguably likely to lead to greater rent arrears and associated issues and this may have some implications for things such as landlords contents insurance cover, as well as buildings cover.

Just as some landlords perform analyses of their tenants by category, some insurance providers may likewise.  This may lead to some of them concluding that certain categories of tenants may be higher risk than others and as a result, either excluding them from cover or making them subject to special terms and conditions (possibly including you needing to pay a higher premium for them).

Whatever your views of the rights and wrongs of this, it is a reality of some forms of landlords insurance and therefore something you may need to look out for carefully when you are selecting a policy.

For example, some policies may not offer automatic cover for DSS tenants, students or immigrants/migrant workers – it may be necessary to look carefully at such policies in order to understand how they may differentiate between certain of these groups.

If you wish to let your property to anyone you wish to, it might be advisable to seek cover that extends to any tenants, irrespective of how they may be categorised.

Given some of the issues relating to tenant troubles and rent arrears mentioned above, it might also be advisable to carefully consider the extent to which a policy may or may not offer you legal expenses assistance, should you end up in a legal dispute with your tenants.

Such cover typically may not include help in pursuing tenants who have fled leaving large rent arrears but it may be able to offer assistance in other domains.

Regrettably, there will always be some potential for issues to arise between landlords and their tenants.  Being as prepared for this as possible may be advisable.




Continue reading...

Thinking about landlords contents insurance

January 30, 2012


As the New Year is now upon us, it may be time to take stock of a number of things including landlords contents insurance.

Now, it is perhaps true that landlords insurance isn’t something that naturally drifts to the top of your attention list at any time of year but perhaps it should and facing the year ahead may be a natural opportunity for this to happen.

Of course, if you are letting your property on an unfurnished basis then you may not, in theory, need to worry too much about landlords contents insurance.

The theoretical qualification is used in the above sentence because even in such a situation, it might be a smart move to check carefully that items around your property that you think of as fittings are also considered fittings under the terms of your landlords buildings insurance.

In some cases, you may find the something you consider to be a fixture of fitting and therefore safely covered under buildings insurance is, in fact, considered by the insurance provider to be contents.

If you are letting out furnished, it may be a sensible idea to take a quick re-inventory of your property so as to realistically assess the value of your contents and what it might cost you to replace them.  That will allow you to check that your cover is sufficient.

It may also be worthwhile checking the detail of any existing let property insurance cover you have to remind yourself whether or not certain items or categories of item are excluded under the terms of your insurance policy.  You may also find that in some cases there is a maximum claim amount specified either for individual items or categories of items.

If you have more than one property under management, you may be able to take advantage of multi property insurance – something that may prove advantageous to you in terms of both money and time.

In the final analysis, reviewing your landlords contents insurance undoubtedly consumes a little of your time and as a busy landlord, you may face the temptation of simply ignoring it and carrying on with your existing situation.  If you are to fully protect your contents that may be a temptation worth resisting. Alternatively, of course, we can use our expertise to do this for you, so please feel free to get in touch.

Continue reading...

What does landlords contents insurance cover?

December 15, 2011


As we are approaching the time of year when we start to think about celebrations, presents and spending money, it may be natural to also start to wonder just what protection we have for some of the contents we already own – in other words, what does landlords contents insurance cover?


If you are looking at a buy to let insurance quote, you may find it includes:


  • landlords buildings cover – this is a classic form of protection aimed at the structure of your property and those things that will typically be regarded as fixtures and fittings (though exactly what that means may vary from one policy to another and it may be worth reading the detail carefully);


  • third party liability, the form of financial protection that may be required if you are sued for losses, injuries or damages arising as a result of your property being held responsible for the cause;


  • contents cover – which, although apparently self-explanatory, may be an area where there are significant differences between individual policies;


  • if your property is furnished to a very high-level, including extensive accessories, it may be advisable to be sure that the maximum payout level of the policy is an amount that will realistically allow you to replace the totality of your furnishings in the event of a disaster (e.g. fire etc);


  • some policies may, for various reasons, exclude certain types of contents – there may be significant variation here between policies but you may find that items such as electronic gadgets, music systems, portable telephones, PCs and laptops plus perhaps telephony systems, may be examples of such;


  • although it may be unlikely to be the case, if you ask what does landlords contents insurance cover of many policies, you may find that they do not include your higher-value items stored on the premises such as chequebooks, credit cards or jewellery;


  • note that there may be a significant difference between cover for your contents and those of your tenants – an area that should be explored and discussed in detail with them;


  • the only certain way to obtain a detailed answer to the question, what does landlords contents insurance cover, is to look carefully at both your buy to let insurance quote and its supporting policy documentation;


  • it is typically a good idea, if you have any concerns or questions, to speak to your insurance provider in advance of making your final purchasing decision – that applies also in the case of questions such as, what does landlords contents insurance cover.
Continue reading...

Thinking carefully about landlords contents insurance

November 30, 2011


Christmas and the New Year are often regarded as a time of giving, except for thieves who may regard them as the ideal times of year for taking.  That is one reason to think again about your landlords contents insurance.

Specifically, you may wish to ask yourself:

  • does your landlords contents insurance cover all of the types of item that you have in your rental property – some may exclude certain forms of electronic device or higher value equipment etc;
  • is the total value of your contents adequately reflected and covered by your let property insurance policy – it is not unusual to find that some landlords may have unintentionally underestimated the value of their contents and some others may have done so deliberately, in the belief that this would reduce their insurance premium a little;
  • whether or not you have fully complied with all requirements of the policy regarding security etc – some policies may require that you have security locks and burglar alarms installed;
  • if any recent changes you have made to your property, in terms of refurbishment, may have changed your requirements with respect to the total values of your contents cover;
  • if you rent out your property on an unfurnished basis, you may think that you do not need let property contents insurance, however, it may be advisable to carefully check that your assumptions about what is covered as a fixture or fitting under your landlords buildings insurance are, in fact, the same interpretations as are being used by your insurer;
  • what risks are covered by your policy – you may presume that things such as theft or vandalism by parties that have forced entry into your property illegally, would be covered, however, what would be the position if your tenants stole some of your contents or maliciously damaged them;
  • if you are looking at a buy to let insurance quote, does it actually include landlords contents insurance or does it only provide for buildings cover – the two things are, of course, very different and it may be advisable to be sure that you understand exactly what cover you will be getting for your money!
Continue reading...

CIA Insurance- Students Contents Insurance

November 12, 2011


Student Contents Insurance

If you’re a student living in rented accommodation and you’re after students contents insurance then you’ve come to the right place.

CIA’s Contents Insurance for Students

Whether you live in halls of residence, private rented accommodation or a shared house, you should protect your precious possessions (including things like laptops, ipods, TV equipment) with a specific policy designed for students.

With cover for all your possessions up to £15,000 and the option to increase this if required, this is a comprehensive students contents insurance policy.

Policy benefits such as accidental damage, employers liability insurance and away from home protection are all available, while contents cover is on a new for old basis excluding clothing and fabrics.

Continue reading...

Buy-to-let landlords must look into all factors of their insurance

November 9, 2011


Buy-to-let property landlords have been advised to look at all of the factors when taking out insurance to protect their portfolio.

 Landlords have been urged to check how long their properties can be vacant for, loss of rent cover, damage caused by tenants and employers’ liability issues. This has all been analysed by Defaqto a research company who researched 87 buy-to-let policies.

Mike Powell, Defaqto’s insight analyst for general insurance, said: “It is important for amateur landlords to consider specialist insurance for their property portfolio as there are a number of key risks that are specific to rental situations.”

He added: “In general, buy-to-let insurance provides cover over and above regular home insurance policies when it comes to rental situations, and it would be dangerous for someone to assume that their home insurance would provide adequate cover for their buy-to-let property.”

Source – news.assetz.co.uk

Continue reading...

How important is landlord insurance?

November 4, 2011


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

Continue reading...

CIA Insurance- Tenant type- Asylum seeker tenants

November 2, 2011


Asylum Seeker Tenants

As a landlord you may be offered asylum seekers, who will occupy the property whilst awaiting permanent settlement arrangements.

It can be more difficult to find cost-effective landlords insurance cover if you have asylum seekers in your property and this is where CIA Insurance can help.

We specialise in insurance for asylum seeker tenants and with a panel of leading insurers behind us we can offer great rates covering all the basics such as landlords buildings insurance,landlords contents insurance and public liability risks.

We can also offer standard accidental damage cover and insurance for houses in multiple occupation (HMO).

We have lower excesses than many other insurers, so give us a try.

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.

Continue reading...

CIA- Tenant types- DSS tenants

November 2, 2011


Landlords Insurance for DSS Tenants

There is a wealth of properties available to rent these days, so landlords may be required to be more flexible as to who they let their property to.

As a landlord you may be offered Department of Social Services tenants, a type of tenant that doesn’t enjoy the greatest of reputations. In fact, many landlords refuse to house DSS tenants because of the increased complexities involved in receiving payments and because, due to a minority of tenants, they can be considered to be ‘difficult’ tenants.

However, an important point to remember is that landlords insurance for DSS tenants is available, which can cover (in amongst many other things) late or missed payments.

CIA DSS Tenants Insurance Cover

Given the potential problems that DSS tenants can pose for landlords and the fact that they are considered to be higher risk because they tend to spend more time at the property, it can be more difficult to obtain a let property insurance quote. This is where we can help.

CIA Insurance specialises in insurance for DSS tenants and with a panel of leading insurers behind us we can offer low excesses and great rates covering all of the basics such as landlords buildings insurancelandlords contents insurancerent guarantee and public liability risks.

We can also offer full accidental damage cover and insurance for houses in multiple occupation (HMO).



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.

Continue reading...