Theft landlord insurance cover is essentially self–explanatory. However, you need to be aware that it must be apparent that there was a violent or forcible entry to the property. Top Tip – be aware that if you have a gap between tenants, normally of thirty days or more, that the theft cover will no longer be active.
Sometimes buildings or land may subside to a lower level due to shrinking clay or large tree roots. This can then lead to severe cracks which may mean that the property is no longer structurally sound. Top Tip – Double-check that this cover is included on your policy. And just like flood cover, you will need to keep an eye on this each year that you renew. Your locality could be considered a subsidence area in the future.
Normally Loss of rent is included as part of the standard landlord insurance policy. Loss of rent comes into play when there has been an incident such as a fire at your property. Top tip – do not confuse loss of rent with rent protection. This is a separate policy and covers you when a tenant does not pay.
Flood cover is the insurance type that is for flooding from floodwater caused by a natural resource such as lakes or tidal water. Top Tip – Ensure that your landlord's insurance policy covers floods. Also, be careful that it is not taken off at renewal time. This can happen as the cover may change when the flood maps are altered. So your property may not be in a flood zone this year, but it might be next year.
Fire cover is the part of your policy that covers you and your property in the event of a fire. This could be caused by an explosion or quite commonly because of an electrical fault. Top tip – do check that your policy does cover fire, but not only that does it cover arson? Not all landlord insurance policies do. At the end of this page, you will find a fire safety guide for blocks of flats.
Some of the main landlord responsibilities in Northern Ireland are: repairing to the exterior and structure of the building ensuring that the building's heating, hot water, basins, sinks, baths etc are functioning correctly taking care of electrical and gas & safety ensuring that all furnishings are safe for use ensuring that the property is fit to be lived in looking after the communal areas when there are more occupants Further below on this page, we have a more in-depth guide about this.
Let's compare landlords' obligations to adhering to the rules of the road. Your car insurance policy will not cover you if you have behaved illegally and a landlord insurance policy is no different in that sense. You need to get the best policy but also to understand and comply with all legal obligations for landlords. Top Tip – Get to know the laws that apply to landlords. Here is a more in-depth guide from the National Landlords Association.
Above you will have seen what is typically included in a landlord's insurance policy. However, in a way, it is almost more important to be clear about what is not covered in your policy. Broadly speaking, you will not be covered for maintenance. Yes, this is a loose term but here are some of the main examples. Damp Damp is considered to be a maintenance issue. This is because it can be caused by a few different factors. Rising damp may have occurred due to a defective DPC (damp proof course). In fact, in older properties, there may not even be DPC. Sometimes it may be caused because of tenants not keeping the property well ventilated or drying their clothes on top of the radiators. Dry Rot Dry rot is one of the last things any landlord would want. It is when wood decays. The wood decays because certain types [...]
