Landlords Insurance Company

Over the last few years more and more developments are being built each year. Most of which are brought up by buy to let investors who use a landlords insurance company. These developments range from housing estates to flats.

Buy to let investors are hoping to find financial property investments, whether they be residential or commercial buildings, which bring back some sort of return. Investing in a property for this reason makes you a small business, so managing yourself like a business is important. As a buy to let residential property owner and a small business you must insure yourself with the correct insurance best suited for your needs, to do this you must find a reputable landlords insurance company.

As any type of landlord it is vital that you make sure you have the right type of insurance for your buy to let residential property and it covers you fully. If you do not have substantial property insurance it may result in your paying more costs for the property than you imagined making a loss.

In residential property such a block of flats that you have purchased it is important as a landlords you must be aware that the landlords buildings insurance may already be taken care of for you. This is because generally the freeholder of the property (the one who owns the land and sells the individual flat to you) will sort out the buildings insurance himself or herself and may charge you a small percentage of the insurance premium in any maintenance fees that are charged to you (maintenance fees may be charged for the up keep of the communal corridors, stairs, lifts, etc.).

Without the hassle of having to arrange buildings insurance for the flat that you have purchased, you will have the hassle of finding an insurance company that can insure you for those areas that can leave you vulnerable to losses also.

These areas include:

• Contents you have put into the property.
• Loss of rent.
• Your liability as a property owner through accidental bodily injury to any person or damage to property as a result of your contents.

Let Protector can offers, you as a landlord, a package that can cover you for all the things you will need in an insurance policy for this type of property. The package of covers you for:

• Up to £10,000.00 as standard (The price will not vary or decrease if you request the sums insured for you contents to be less. The price will increase, however, if the sums insured for your contents is requested to be increased more than the £10,000.00).
• Accidental damage cover on your contents as well as being covered by the standard perils like fire, theft, malicious damage, smoke damage, etc. (Available for professionally tenanted properties only).
• Metered water
• Unauthorised use of electricity, gas or water.
• Cover up to £1,000,000.00 for costs you are legally liable to pay as compensation for accidental bodily injury to a person or loss or damage to property as a result of your contents or amount as stated in schedule.
• Legal Expenses which will cover your legal costs for breach of tenancy agreement, rent arrears pursuit, eviction, legal defence, legal help line and TAX, VAT, PAYE & NIC investigations.

Be sure to make sure that you ask your landlords insurance company for a copy of and read all pages of the quotation document before proceeding with this type of cover or any type of buy to let insurance, whether it be residential, contents or commercial. Each and every landlords insurance company is different and will have different excesses, terms and conditions and exclusions you may not be aware of.