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Inside this Article
Landlord's Let
Property Insurance
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Standard house
insurance policies are not an option for
owners who rent out their properties.
If you use your
property for commercial purposes then this will be
considered a higher risk than a homeowner living
at the address.
Landlords should
therefore purchase a let property or landlord's
insurance policy to protect their investment.
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If your property is
your main abode but you intend to let it out for short
periods, perhaps when you are away, you must inform
your insurance company of the letting period as they
would be within their rights to refuse a claim made in
those circumstances.
The landlord is
entirely responsible for making sure that suitable
insurance is in place. You could however reflect the
cost of insurance in your agreement with the tenant.
Let Property
Insurance Benefits
Policies should cater
for almost every type of residential and commercial
let property, including hard-to-insure DSS Lets,
Student Lets, Holiday Homes, and Unoccupied
Properties.
What Types of Cover
Should I Consider?
Buildings cover:
loss damage or destruction of your building plus
insured items such as landlord's fixtures and
fittings, walls, gates, fences plus an amount towards
architects, surveyors and consultant's fees and
removal of debris.
Property owner's
liability: protection against claims made by the
public, other businesses or employees for death,
injury or damage to property brought about as a result
of your negligence or that of your employees.
Fixtures and
fittings: your additional fixtures, equipment, and
property also need protection. However, these should
be covered under the Buildings policy.
Loss of rent:
cover against loss of rent receivable should your
premises be unoccupiable following loss or damage to
your property.
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