Making sure landlords are covered when renting out there property. Look at different Landlords Insurance products.

16 July 2015 - Which Way To Pay

    



When we make the decision to purchase a property to rent it will probably be one of the biggest investments we ever make . Therefore we need Landlords Insurance.

When you have saved up all that hard earned cash over many years , you have finally decided to invest in a property to rent out . When deciding on the best tenant to put in you always need to remember to take out landlords insurance.

Lots of landlords don't realise the importance of landlords insurance. The landlords insurance policy is a premium that you pay monthly or yearly depending on what best suit you. Here are some reasons why landlord insurance is so important :

  • Non payment of the rent by the current tenant.
  • Damage to the property (by the tenant)
  • Loss of earnings if the tenant has to move out suddenly.
  • Liability for accidents in your property which cause injury.

As you can see from the examples above , Landlords insurance is very important when renting out you well earned home . Many mortgage lenders and providers sometimes make it compulsory that you have a Landlords insurance policy of your property before they will allow it to be rented out.

Many of the Landlords insurance providers will always recommend you take the policy as with any normal home insurance you would not be covered for things such as , Loss of earnings , Damage to the property made by the tenant and many more.

Lots of landlords do still not have landlords insurance as they feel as though they don't need this level of cover , however recent years there has been lots of different cases when the landlord did not have landlords insurance cover , a accident has happened at the property and the current insurance providers will not cover as they were not notified this was being used as a rental property and not just for personal use.

Always remember when dealing with different types of insurances , make sure you have the correct cover for you as this can cause lots of upset and stress if you did come to claim for the policy .

Landlords get covered now with the correct landlords insurance for you ! .

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