We are asked about landlord insurance all the time - it is huge area with lots of different types of cover available. This makes it hard for us to be able to tell you exactly what type you will need as it will depend entirely on your circumstances.
To help explain some of the types of cover and to enable you to check against what you have already we caught up with Matt Robinson from SJL Insurance Services - watch our video for some really useful explanations -
Christopher Shaw Residential are proud to announce a partnership with SJL Insurance Services for landlord’s cover.
SJL Insurance Services are a professional broker and having written over 80,000 polices in their 20-year history will be able to review your cover when your current policy is due to renew.
Good stuff to know -
Occupied Residential Property Owners (leasehold or freehold):
SJL’s residential property owner’s insurance covers many tenant types such as professionals, students and DHSS; SJL also cover a variety of building types and ages.
• Malicious damage by tenants and guests cover as standard up to £5,000
• Full Accidental damage cover for professional lets & Student lets
• Carpets/blinds included in buildings definition
• Options to include Contents Cover
Unoccupied Residential Property Owners:
Unoccupied Residential Owners insurance will cater for all types of properties whether they are awaiting sale or a renovation or even if the property is in probate.
• Option to cover contents insurance for unoccupied properties
• Pro-rata cancellation after 6 months’ cover
• 3 Month cover option
Things to consider:
• For leasehold properties in a block of flats, there is usually insurance provided by the freeholder to cover the buildings, but the landlord (usually as a leaseholder) will still need liability cover toward the tenant in relation to contents left in the property. Landlords who let their property ‘unfurnished’ will rarely take out contents cover, suggesting that there isn’t anything in there. Carpets, white-goods, fixtures/fittings may be classed as contents by some insurers.
• If a property is owned and then put up for let, normal ‘home-owner’ insurance may not cover the landlord when the property is let out.
• A property which is let but is then vacant may not be fully insured. This depends on how long it is unoccupied (between tenancies for example)
• If a tenant causes malicious damage to a property, the deposit would be the first monies used to put this right. However, if the damage caused was in excess of the deposit the landlord, via SJL’s malicious damage cover would at least have some protection available.
If you would like more information or a review of your current insurances please click here and we can arrange for Matt or Dan Warman our dedicated representatives at SJL, to give you a call.