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Lexelle specialises in the provision of a number of insurance products for landlords which may serve as useful complements to the main, underlying, landlord’s insurance policy.
Policies which the company describes as residential landlords’ insurance protection include:
- legal expenses cover for landlords;
- excess insurance, including subsidence excess protection;
- landlord’s emergency assistance; and
- gas inspection and boiler servicing.
The company’s products are marketed through a network of brokers providing landlords insurance.
What makes landlord insurance a specialist product?
Lexelle’s product offering recognises the specialist nature of these supplementary insurances for landlords largely because of the fundamental difference between standard home insurance – as might be arranged by the average owner occupier – and the specialist cover required by owners of buy to let property.
Specialist cover is needed by landlords essentially because of the use to which the property is put – it is let to tenants as part of a business endeavour, whether that is a conscious or “accidental” role on the part of the landlord.
Along with that use come quite different risks and perils to those likely to be encountered by the owner occupier of his or her own home. That is the essential reason for needing specialised landlord insurance if the property you own is to be let to tenants.
What does it cover?
In the case of Lexelle’s residential landlord’s insurance protection, cover is available for the following categories of risk likely to be encountered by the landlord of buy to let property:
- some claims might affect the very future of the landlord’s investment – and costly legal expenses may be incurred in defending such claims;
- amongst the most expensive types of claim, for example, might be those following an accident resulting in personal injury to a tenant, one of their visitors or a member of the public;
- Lexelle’s legal expenses cover may help to cover the cost of defending such allegations;
- one of the more time consuming – and expensive – duties of the landlord is responding to calls for emergency repairs;
- emergency assistance insurance gives you the option of calling a 24-hour helpline and the despatch of a qualified engineer to attend to such repairs before they develop into an even more serious crisis;
- excess insurance, of course, protects your obligation to pay the excess on any claim – which in the case of subsidence may be £1,000 or more;
Gas inspection and boiler servicing
- services such as this may help you stay the right side of the law as far as your obligation for ensuring gas safety is concerned.
Why choose a Lexelle landlord insurance policy?
The company itself points to the streamlined service available to its partner brokers, to whom it is committed to supporting.
Lexelle aims to foster relationships based on trust, efficiency and choice in the range of products it offers in its range of residential landlord’s insurance protection products.