- Buildings and Contents Insurance For Landlords
The landlord insurance policy, or buy to let insurance, is designed to cover the rental of the property. Landlords can use it to cover any unexpected costs if something goes wrong.
Banks often require that landlords’ buildings insurance be taken out if a property is mortgaged. This insurance covers such events like theft, fire, storm or flood.
Content insurance can be added to cover the replacement of locks, white goods or flooring. It may also cover furniture or other items. This type of policy does not cover the belongings of tenants. They are responsible for arranging their own insurance.
- Boiler Cover
Some boiler covers are included in the price, which gives landlords peace-of-mind and ensures tenants have heating and hot water as well as a quick fix if their boiler fails. When you need advice from Letting Agents Bridgwater, contact Sykesmoore
- Tenant Default Insurance
Rent Guarantee is a tenant default insurance that allows landlords to recover unpaid rent if their tenants fall into financial difficulties and stop paying or if the tenants do not pay after an eviction has been served.
- Loss of Rent Insurance
A landlord who loses rent because a property is uninhabitable and the tenants have to leave, then this is a different situation and an insurance policy for loss of rental income would be required. It allows landlords to receive income while the property is being repaired.
- Malicious Damage Cover
Your standard landlord policy will cover malicious damage caused by vandals or burglars who enter your property without permission and cause damage. If your tenants intentionally damage or break your property’s items, they are covered under a malicious damage policy.