|
This
is an Insurance article by an independent author and jml
Insurance takes no responsibility for its accuracy or content Buy
To Let Property Insurance By Joseph
Kenny Buy-to-let
property insurance, some times also known as residential property owners insurance,
is needed if you own houses and/or flats to tenants – either on a short-term or
long-term basis. Ordinarily you can buy cheap buy-to-let property insurance in
the event that you rent five or less properties in the UK than is the case if
you rent more than five properties, as in the case of the former you are seen
as a small time landlord with a small business, whereas in the latter you are
seen as a full blown property-owning company. Whether
you plan to rent five or less properties, or five or more properties, is, however,
a side issue, as in both cases you’ll need to ensure that you have at least the
minimum level of required insurance in order to protect yourself. Consequently,
the number of properties you own will have a bearing only insofar as the insurance
premiums are concerned. That said, if you are looking to become a property owner
with a letting business, then you need to ensure that you have the following minimum
provisions in your insurance policy: Fire Insuring
against any fire on the property Natural
Disaster (also known as tempest insurance) Insuring
against natural disasters that may occur, such as a storm where the winds tear
off your roof or guttering Theft Which
is especially important if you are renting out fully furnished properties. In
the event that you are renting out unfurnished premises, you may wish to have
a discussion with your tenants about whether or not they should have home contents
insurance Public
Liability Insurance This
should be a must as it will protect you against any claims your tenants or any
third parties (such as their guests) may have for injuries they suffer while on
your property Lost
Earnings There
may well be times when your property remains empty; say, for example, while you
look for new tenants. If you are relying on the rental income from your tenants
to repay the money you borrowed to purchase the property, you need to ensure you
have lost earnings insurance to compensate you during this period Employee
Liability Insurance If
you have employees who will visit the property for you to repair any damage, etc.
or to collect the rental payments, then you need to make sure that you have employee
liability insurance in case they get injured while carrying out their assigned
task Legal
Expenses Insurance As
a property owner you may find the need from time to time to retain the services
of a lawyer; for example, if your tenants refuse to pay their rent or move out
of the property at a specified agreed time – when you may need to get an eviction
notice. As legal expenses in the UK can be expensive, you should consider insuring
against this risk by having in place a provision of legal expenses in your insurance
policy. Although
the above are basically the bare minimums you need in your buy-to-let property
insurance policy, you can also tailor these types of insurance policies to meet
your particular needs, so make sure that you talk through your circumstances with
your insurance provider, especially if you anticipate expanding the business in
the near future. Joseph
Kenny writes for the Loans Store who can offer cheap
loans to UK residents and secured
loans for homeowners.
Visit Today: http://www.ukpersonalloanstore.co.uk Article
Source: http://EzineArticles.com/?expert=Joseph_Kenny The
information supplied on this page is by a third party and jml Property Services
do not take any responsibility to its accuracy ©jmlpropertyservices 11/06
Buy
To Let - UK & Housing Act 2004
Click
Here for further Information
Buy
To Let - Europe Click
Here for further Information Buy
in France Click
Here for further Information 
SEE:
PROPERTY INSURANCE
________________________________ Looking
for Car Insurance Below .jpg)
Before you buy car insurance have you thought about the excess? 
Renting
a car? Have you thought about taking out Car Hire excess insurance? .....You should
- Click on the insurance4carcrhire banner below for information 
| 
