Landlord Insurance: Is It Essential?
If you’re a landlord advertising your property via an online property agent, there’s little doubt that your investment is something to be protected at all costs. Thankfully, there is an easy way around this which will ensure safeguards against a plethora of mishaps. And that is by obtaining landlord insurance. It is used to cover a variety of contexts regarding your property, often including the same type of cover you’d find in regular house insurance. But as a landlord, it’s vital that you obtain extra cover for events such as:
- Missing or not paying the rent
- Damage caused to your property by the tenants
- Rehousing costs or loss of earnings should your tenants move out
- Accident liability for injuries caused within the property
At present, there exists no legal obligation to obtain landlord insurance for your property. However, if the property in question has a buy-to-let mortgage, it may be specified in the agreement that you have to take out landlord insurance.
A quick, cursory search will reveal many insurance packages tailored to landlords. Many of the facets and eventualities covers – such as loss of rent or accommodation costs are not covered with standard building and contents insurance. Plus, if you own several properties, you’ll also be able to find cheaper cover for them with ease after a short time on your favoured search engine.
Are you looking for an online property agent you can trust? Then check out www.propertyloop.co.uk today. Built by experienced property investors and landlords, the website connects renters with the owners directly. Why not sign-up to see it in action? It’s a free platform that only charges a small fee once you get your rent money in. Your property is featured on all major search and comparison portals as well as advertised by PropertyLoop everywhere else on the Internet. You don’t have to worry about finding the good renters, that’s the job for the platform. Receive offers straight to your mailbox and select the renters that are right for your property. Need access to busy London property market? No problem at all! PropertyLoop is the London market specialist with years of experience and unique knowledge. Whatever your needs are, you can always speak to friendly support staff. Renting property is made as simple as one, two, three.
As a landlord you will gain passive monthly rental income from your buy to let and capital appreciation as the years flit past. And it’s exactly this capital appreciation ...
February 12, 2021
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