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Monday 17 August 2015

Guide to unoccupied property insurance

I've got several properties that are unoccupied at the moment.  One that is undergoing a refurbishment the other that is empty as the property is up for sale.  Because the buy-to-let property was unoccupied for more than the standard 30-45 days allowable by most buy-to-let insurance my broker Alan Boswell advised that I would need specialist empty property insurance.  This I have done through Ocaso. 

Why do I need empty property insurance?

Firstly, why does a landlord need empty property insurance.  Surely, if the property is empty it's less likely not more likely to get damaged.  No tenants - no problems some would say.  Unfortunately that is not how insurers see it.  Their concerns are that an empty property is more likely to suffer damage though people entering and vandalising the property and ultimately the big concern and risk to the landlord and insurer is fire damage. Have a look at this recent article on a landlords insurance risks assessed.

The critical thing for all landlords is to check out the section in their insurance cover that gives the details of the limits to the period of time that the property can remain empty.  Alan Boswell's standard landlord insurance cover allows a property to be empty for up to 60 days from cover and 90 days between lettings in certain circumstances.

It may well be that unbeknown to a landlord because of a letting void or refurbishment of the property that insurance cover is invalidated.  This could be a very expensive over sight.

Landlord insurance - professional rates - expert brokers
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Thursday 24 July 2014

Landlord Training Events

Property Hawk in association with it's legal partners has launched a series of Landlord Training Events. To sign up and pay for the course using Paypal CLICK HERE To sign up for the course and then pay over the phone using a credit or debit card SUBMITT THIS FORM FOR DETAILS PHONE: 08458684070 EMAIL : training@propertyhawk.co.uk
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Wednesday 19 June 2013

Letting to tenants with pets - new landlord insurance policy

Considering renting a property to tenants with pets? A specialist insurance policy to be launched in May 2013 by Dogs Trust, the UK’s largest dog welfare charity, and Endsleigh Insurance, will give landlords peace of mind and offer hope to thousands of pet owners who struggle to find private rented accommodation, by including pet damage cover in the policy as standard.

The “Specialist Landlords Insurance – In Partnership with Lets with Pets” has been established due to overwhelming demand from landlords who are eager to branch out and rent to pet owners, but want the reassurance of specialist buildings and contents insurance.

Tellingly, a recent survey found that 88% of landlords said they would rent to pet owners if there was an insurance product available covering pet damage.

The Lets with Pets scheme, run by Dogs Trust, aims to make private renting with pets easier for landlords, letting agencies and pet owners by providing practical advice and a range of free resources.
Clare Kivlehan, Dogs Trust Lets with Pets Manager, says:

“Over three quarters of pet owners experience difficulties finding privately rented accommodation that allow pets[2]. Yet, there are many benefits of renting to pet owners and many landlords have been missing out on this lucrative sector of the market. So, we are delighted to be teaming up with Endsleigh to offer landlords this specialist cover.”

Sean Sage, Endsleigh’s Let Property Sector Manager, commented:

“With over 30 year’s experience developing property insurance solutions for the landlords sector, Endsleigh is committed to providing specialist insurance protection to meet all the requirements of buy to let landlords. Often the perceived problem of pet damage is the major obstacle for landlords when it comes to renting to pet owners. So, we are delighted to be working with Dogs Trust and Lets with Pets to provide comprehensive insurance cover for landlords to put their mind at rest.”

The insurance policy will be available to individual landlords and cover will include accidental pet damage as standard, 120 days unoccupancy, theft by tenants, £2m property owners’ liability, malicious damage by tenants and landlords contents.

For more information on the Lets with Pets and Endsleigh Pet Insurance Policy, go to: www.endsleigh.co.uk/letswithpets or contact letswithpets@endsleigh.co.uk
For more information and advice about the Lets with Pets scheme, please visit

 www.letswithpets.org.uk
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Wednesday 14 September 2011

Property maintenance declines

New data from Simply Business, the UK’s largest business and landlord insurance broker, suggests that tight budgets are hitting property maintenance by landlords, as the proportion of claims made for avoidable incidents such as leaks, burst pipes, frost damage and general wear and tear has increased by five per cent since 2008.

The data, taken from the claims of over 3,500 private landlords reveals that water damage is the biggest offender, with the number of claims increasing by 20 per cent since 2008. Water damage is also one of the most expensive problems to fix with the average cost of repair at £2,422 per incident.

Despite strong demand pushing rent rates to a record high*, the data suggests that increased overhead costs and fears about the ongoing stability of the UK financial market** mean landlords are scaling back on their short term costs and failing to proactively re-invest in the upkeep of their rental properties.

But with 3.4 million households now living in privately rented accommodation, it is essential that landlords foster good relationships with tenants and encourage them to report instances of damp or water leaks early as timely maintenance work can save on bigger pay outs later.

Landlords will be happy to hear that incidences of other claims have decreased, including accidental damage (down by 3 per cent), storm damage (down by 17 per cent) and theft (down by two per cent), although these are still amongst the most frequent problems.

Jason Stockwood, CEO, Simply Business, commented: “While insurance is crucial for landlords to ensure they can repair any unanticipated damage to the property, they must still maintain the property to a reasonable standard. Damage due to poor maintenance will not only disrupt current tenants and discourage future tenants but maintenance related claims are frequently not covered by insurance policies.

“With winter approaching, we would encourage landlords to check their properties are water tight and secure so they can withstand any heavy rain and cold spells.  Otherwise they could be left with a hefty bill.”

Simply Business has released guidance for landlords on claims that are generally excluded from their insurance policies:

1.    Frost damage as this is seen as a maintenance issue. A water tight building in good condition, should not allow water to get into the pipes or brick work, where it can then freeze, expand and cause damage over time. To avoid this happening, a regular maintenance programme should be implemented during the dry months.



2.    Malicious damage by tenants is usually not covered on standard policies so landlords need to ensure they request this. Not to be confused with ‘Accidental Damage’, ‘Malicious Damage’ is the intentional physical damage to the property and would be considered a crime. Examples include vandalism, deliberate fire or theft of building fixtures. When claiming for this type of damage, the police need to be notified and a crime reference number must be submitted to the insurer or broker.

3.    Un-occupancy: Most Insurance policies try to accommodate the common situation of a property sitting unoccupied between tenants, allowing 30 days before the insurance company needs to be notified of the change.  Beyond the 30 days, some insurers may apply additional terms and restrictions until the new tenants move in, whilst others will not want the cover to continue at all.  If the insurer is not notified that the property is unoccupied after the 30 days then it is considered a material change to the policy and any claim is unlikely to be covered.

4.    Wear & Tear is the gradual deterioration of an object that takes place over time and is not classed as an insurable risk or event. It is the policyholders responsibility to maintain the condition of the property and keep it in a good state of repair.

5.    Loss of Rent – If the landlord has agreed that the tenant shouldn’t pay rent because of damage to the property, but the property isn’t deemed uninhabitable then landlords cannot assume this will be covered.  In order to claim for this the property must not be liveable for the tenants.
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Saturday 2 July 2011

Landlord insurance - how to access your policy



For many landlords accessing the quality of their landlord insurance is difficulty.  The reason being that landlord don't really know what to look for when being presented by landlord insurance policies from their landlord insurance broker.

The good news for landlords is that there is an independent organisation called defacqto that do the annalysis for them.

They access the landlord insurance against 57 separate criteria and then give the landlord insurance a star rating with 5 star being best.

To find out more on how to assess your landlord insurance follow the link.

Friday 10 September 2010

Landlord insurance overview

There are many different types of Landlord. From the individual who is renting out their second home to the ambitious property tycoon with an ever-increasing portfolio of trendy dockside apartments. The common theme for all landlords is the need to purchase landlords insurance to protect their investment.

Food for thought?

As a landlord, you are effectively using your property as an extra source of income – and this needs to be protected. A normal home insurance policy is not valid when you are taking an income from the property. A residential landlord policy is what is required.

With the correct landlords insurance policy in place, you can relax knowing that should any damage be caused to the property you are protected against the financial consequences. With this peace of mind in place, you can worry about running your property and nothing else.
Examples of claims which Landlord’s Insurance covers you for:

Landlord’s insurance would pay you should the following happen:

• Your property is massively damaged by a fire. Luckily your tenants are not hurt but they have to move out as the damage is so bad. It takes builders and decorators 3 months to repair the damage. Your landlord’s insurance policy would not only pay for all of the work to repair the property but also pay you the rent that you are missing out on by not having tenants living in the property during this period.
• You fall out with your tenants. They stop paying the rent and refuse to leave the property. You are forced to take them to court to get them evicted and collect rent owed to you. If you have purchased the “Legal Expenses” cover as part of your Landlord’s insurance policy then all of your costs accrued in fighting the court case would be compensated.

Frequently Asked Questions

What is the Buildings Sum Insured (BSI)?
You are always asked to give an estimate for the Buildings Sum Insured (BSI) when going through the process of getting a Landlord’s Insurance quotation. This is an estimate of the cost for rebuilding your property should it be completely destroyed. Do not confuse this with the value of the property (which is normally much more – especially in prime city-centre locations) otherwise you will be paying more than is necessary for your insurance. On the other hand, do not be tempted to deliberately understate the BSI since should it come to making a claim the insurers will reduce the amount that they pay you in proportion to the amount you have underestimated.

Why am I not already covered under my normal home insurance?
Home insurance policies will not pay when the property is being used to make an income (for example when you are renting your property to tenants). You must therefore buy a Landlord’s Insurance policy which is especially designed and rated for these circumstances.

I have several properties, do I need to buy one policy per property?
No, you can buy one policy which covers as many properties as you have. Using our online quotation system you can receive instant quotations from many of the UK’s top insurers for one property or multiple properties.
How do insurers calculate the premium for Landlord’s Insurance?
Different insurers use different ways of assessing the risk of your property and therefore how much to charge you.

Some of the major factors are:

• The location of the property (postcode)
• The Buildings Sum Insured
• The type of tenants in the property
• A history of claims
• The age of the property
• The type of property (flat, detached, terraced etc)

Instant Landlord Insurance Quotes

Decision Finance offers you instant online quotations for Landlord’s Insurance upon completion of a short online form. You will receive quotations from some of the UK’s top insurers including Norwich Union, Zurich and Groupama. This means that you can compare what cover you get and prices easily and quickly with absolutely no fuss.

Should you decide that you wish to proceed with one of the quotations you receive you can buy your policy online and then simply print off your policy documents. Alternatively you may wish to register your interest and ask to be called by an advisor who can talk you through the features of the each of insurers policies and answer any questions that you may have.

Buy to Let Insurance


Landlord Insurance is commonly also known as buy to let insurance. The cover available under a buy to let insurance policy is the same as a landlord insurance policy. You can get cover for your property, contents and landlords liability insurance. You will also be able to get insurance for a portfolio of properties as well as a singular property. 

Article provided by our partner, Decision Finance. If you need buy to let landlord insurance cover then Decision Finance can help, they have partnered with over 20 of the UK’s leading insurance specialists.

Friday 2 April 2010

Letsure announced landlord insurance tie up with Hamptons International

Lettings insurance specialist Letsure has agreed a deal to provide rent guarantee insurance products to landlord customers of residential agency Hamptons International.

The new product, which covers rent and legal protection, will cover landlords against losses that occur as a result of unforeseen events, such as tenants failing to pay their rent or breaching the terms of the tenancy.

Commenting on the product, Ian Fraser, managing director of Letsure said: "Letsure is delighted to be working with such a prestigious brand as Hamptons International.

"The product that we have designed for Hamptons International is one of the best available in the marketplace and we are confident that it will be warmly received by their customers."
Lesley Cairns, head of lettings at Hamptons International added: "I am excited about this bespoke service we are offering to our clients as there are many unexpected circumstances which put landlords at risk.

"Some tenants may not have a spotless credit history particularly following the last 18 months, so landlords need to consider tenant history and affordability especially as unemployment remains challenging."



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