Residential Landlords Insurance (final)2020-07-06T14:53:26+00:00

Residential Landlords Insurance

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Why choose us?

At Property Insurance Centre, our priority is our customers, so whether you want to apply for quotes online or speak to one of our experienced specialist team, we aim to give you the best range of Landlords Insurance Quotes.

As a specialist insurance broker, we strive to give our clients the best service with:

  • Independent broker with approachable staff online or by phone

  • Access to a wide range of insurers to source suitable insurance cover for your needs

  • Bespoke Insurance Schemes & Portfolio Policies available

  • We can tailor your policy to suit your exact needs to give you complete peace of mind

  • Competitive Premiums

  • Cover available for the buildings while the property is being converted, renovated or extended

  • Over 40 years experience working with the best insurers in the UK

  • Excellent communication so that you understand what risks you are insured against

What Cover does Residential Landlords Insurance Provide?

At Property Insurance Centre we can tailor a policy to suit your needs. We understand that everyone’s insurance requirements are different, so whether you have multiple properties and need a single portfolio policy, or one stand alone insurance policy, we can create the right policy for you. Typically cover can be arranged to include:

  • Property Owners Liability – To protect you against any claim that your tenants could make against you – usually cover starts at £2,000,000 but can be increased to £5,000,000
  • Landlord Contents  – To protect any damages that can occur to your contents in your property you rent out (this does not cover the contents belonging to your tenants)
  • Malicious Damage – In the event of intentional damage done to your property by tenants (this cover usually has a limit and an increased excess)
  • Cover for Unoccupied Properties – If your property is empty for 30 days or more, specialist unoccupied property cover is needed
  • Loss of Rent / Alternative Accommodation – Should your property become uninhabitable due to an insured peril such as fire or flooding, this will cover the cost of lost rent or alternative accommodation. This is particularly important if you have fixed overheads like a mortgage
  • Escape of Water – One of the most common problem a Landlord will have is burst pipes
  • Escape of Oil – Although most properties have switched to Gas, there are plenty that have oil. Escape of Oil can affect you & your neighbours very quickly
  • Accidental Damage – included as standard to Fixed Glass. You can also add Full Accidental Damage to give that extra layer of protection
  • Impact – Can be from 3rd party vehicles or animals
  • Storm
  • Flood
  • Fire
  • Subsidence

Optional Cover can also be arranged for:

  • Legal Expenses – should a claim go to court, this will cover the costs of hiring a lawyer or court fees
  • Terrorism – This protects the buildings and landlord contents against a terrorist attack

Is your Property Unoccupied and you intend to let?

  • We can give 90 days unoccupancy cover and include wider perils insurance cover so long as there are no works planned. Ask about our 5 star Defacto Rated Unoccupied Property Scheme. This policy is market leading in price & cover – you will not find a better policy in terms of price or cover!

Call our dedicated new business team on 0800 085 3761 to discuss your Landlords Insurance needs. Our Staff are Cert CII Qualified and will find the right policy for you at the right premium.

We have over 40 years experience working with:

How does cover for theft work?2020-04-27T16:59:19+00:00

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.

What is subsidence landlord insurance cover?2020-04-27T16:48:28+00:00

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.

 

 

Am I covered for loss of rent?2020-04-27T16:35:58+00:00

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.

What is flood cover?2020-04-27T16:25:25+00:00

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.

 

What is fire cover?2020-04-27T16:14:47+00:00

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.

What are my landlord responsibilities in Northern Ireland?2020-04-27T15:59:50+00:00

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.

Why are landlord obligations important?2020-04-27T15:49:52+00:00

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.

What is not covered in my landlord insurance policy?2020-04-27T15:39:32+00:00

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 of fungi have digested the part of the wood that gives it stiffness and strength.

Wet Rot

Wet rot is a broad term that refers to some species of fungi who actually break down the wood’s cells that makes the wood weaken over time.

Gradual Deterioration

Gradual deterioration is when a landlord doesn’t visit the property often enough to resolve issues before they escalate into more serious problems.

Faulty workmanship

This is a rather common problem. If your property was constructed or extended with faulty workmanship, of course, your insurer will not cover this. An example is that the flashing has not been secured correctly on the property’s roof, this would lead to water increasing inside.

Be sure to read your policy wording carefully. However boring it may seem it could save you a big problem in the future.

Who Needs Residential Landlords Insurance?

If you own any property that you rent out for residential purposes then you need Buy to Let Insurance. Despite the fact that there is no legal obligation to have Landlords Insurance, if you have a mortgage on your property, your lender may require you to have insurance before you take on tenants. As well as needing insurance to meet your mortgage requirements, insurance is necessary to protect you against any liabilities you have towards your tenants, and also to protect the building itself. Without insurance, if a tenant were to have an accident due to your negligence, for example a fall on badly fitted carpet, they could start legal proceedings against you. The cost of legal fees and compensation alone could completely negate the profit you have made from rental income.

Call us on 0800 085 3761 or contact us here to get a range of Residential Landlord Insurance Quotes.

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