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Landlords and Buy To Let Cover

Landlords and Buy To Let Cover
15 July 2013

By UKinsuranceNET In Landlord Advice

These days just about everyone may be all too well aware of the need to keep a close eye on spending and to be on the look-out for ways to save money.

That may be particularly true if you earn your living letting out property and possibly have a buy to let mortgage to service. Yet one area where it may make no sense to cut corners is on insurance cover for your property.

That’s not the same as saying that there are not cost-attractive deals to be had for buy to let insurance, as you may see if you visit a specialist site likeUKinsuranceNET:

  • one of the main benefits arising from using such specialists is the wide choice of policies that they may be able to offer you;
  • no two landlords are likely to have identical requirements when it comes to insurance cover for their property. When your livelihood is at stake, it is obviously crucial that your choice of cover is the most appropriate and comprehensive for your own unique set of circumstances;
  • one of the first points to bear in mind at the outset is that a policy aimed at owner occupiers is not going to be suitable for you as a landlord;
  • your cover needs to take into account factors specific to being a landlord perhaps relating to your tenants and public liability concerns etc;
  • that’s why using a landlord insurance broker may help you find policies which provide you with financial protection against damage to your property caused maliciously by tenants;
  • you may also be able to take advantage of property portfolio cover, which may be a more cost-effective and administratively efficient way for you to manage your insurance needs if you have multiple let properties;
  • although some of the main risks your property and contents may face comes from your tenants, there are also insurance related issues for you to think about if your property is standing empty for prolonged periods of time;
  • you may benefit from getting some specialist advice on unoccupied property insurance, as the reason your property is unoccupied may have a bearing on the most appropriate cover for your needs. For example if you are carrying out renovations then different criteria may be applied.

As a landlord, you may already have a lot on your plate and becoming a specialist in landlord insurance may be something that you just don’t have time for. Using the expertise of expert providers may just be plain common sense – it’s what they are there for.

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