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Cold
Snap Could Prove Costly for Landlords says HomeLet Insurance
Released 11th
January 2010 Landlords
who don't have adequate insurance could end up paying out thousands of pounds
to repair damage caused by freezing water and leaks from tanks, pipes or heating
systems. With
temperatures well below freezing point, now is the time when pipes are most at
risk of bursting and boilers of breaking down thanks to increased usage. Besides
the cost of repairs, if the burst pipe or damaged water tank is in the attic water
can cascade though the house bringing down ceilings and causing thousands of pounds'
worth of damage. Landlords
may also have to deal with the inconvenience of being called by the tenant late
at night or at the weekend, and the difficulty and expense of having to find and
call out a reputable emergency contractor at short notice. HomeLet,
the UK's market leading insurance provider for the lettings industry, is urging
landlords to make sure they've got specialist cover they need to protect them
against the risks associated with renting a property.
HomeLet's Managing Director, John Boyle, explained: "We've recently launched our
new Landlord's
Insurance+ product. "Our
specialist landlords buildings and contents policies include Emergency Assistance
as standard, which means landlords are covered for emergencies arising from plumbing
and drainage, electricity supply, cooking systems, security, lost keys and roofing,
down piping and guttering at no extra cost. "What's
more there is also the option to upgrade your policy to cover sudden and unexpected
breakdown, failure or damage to your boiler and central heating system." Even
if landlords don't buy buildings or contents insurance from HomeLet they can still
purchase HomeLet's Emergency Assistance as a separate policy that covers boiler
and heating as standard and includes a 24-hour helpline for tenants to call in
an emergency. HomeLet
will respond within four hours, contacting one of their professional, qualified
contractors on the landlord's behalf. If the problem can't be solved then and
there and the tenant needs emergency accommodation, the policy covers the cost
up to £250. . John
continued: "Many homeowners don't realise the importance of protecting their homes
against freezing conditions, and landlord's properties - particularly those which
are unoccupied - are even more susceptible. This is why our Emergency Assistance
insurance covers a landlord's property even whilst it's unoccupied for up to for
up to 30 days. "We
are undergoing the most prolonged spell of freezing we've had since December 1981
and this, combined with research from Which? revealing that nearly one in three
new boilers breaks down within the first six years of operation, means that landlords
can't afford to take the risk of being uninsured. HomeLet
is a trading name of Barbon Insurance Group Limited which is authorised and regulated
by the Financial Services Authority. Registered in England number 3135797. Registered
office address: 4-9 Highview, High Street, Bordon, Hampshire GU35 0AX.
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See
also
HomeLet
(Group) Press Information: Cold
Snap Could Prove Costly for Landlords says HomeLet Insurance - January 2010 HomeLet
Launch New Range of Landlord's Insurance - December 2009 HomeLet
Insurance offers service guarantee to Letsense Agents - December 2009
HomeLet
to launch innovative new insurance policy product - December 2009 Demand
for HomeLet insurance doubles - October 2009 HomeLet
releases a new Tenant's contents insurance product available via jml insurance
- HomeLet rental insurance have cut the cost of tenants insurance from the 19th
June 09 with a new policy that is available via jml insurance - June 2009 Barbon
Insurance has acquired Zennor Ltd - April 2009 Tenants
should Insure against recession related crime - February 2009 New
Managing Director for Letsure- Barbon Insurance Group has announced the appointment
of Ian Fraser as Managing Director - January 2009
New
Chief Executive for Barbon Insurance - September 2008 Barbon
Insurance Reveals Latest Financial Results - September 2008 EIS
Completes Rebranding Exercise to Become Barbon Insurance Limited -August 2008 jml
Insurance are very pleased that HomeLet and Letsure are now under the Barbon Insurance
Group umbrella - August 2008 Martin
& Co announces three year deal with HomeLet - July 2008 HomeLet
staff gain promotions - June 2008 New
Customer relations manager for EIS Insurance Solutions - June 2008 EIS
sale completed - New and stable long term ownership - April 2008
EIS
separates from Erinaceous Group - New and stable ownership - April 2008 Erinaceous
placed in administration - April 2008 jml
Insurance will now be introducing Homelet Landlord & Tenant insurance instead
of Letsure - March 2008 Erinaceous
puts insurance division up for sale - January - February 2008 Brian
Turney has left Lumley Letsure - June 2007 Erinaceous
Group Plc Opens Property Management Office in Dublin, Ireland - May 2007 HomeLet
IPEX -Landlords set for buy-to-let revolution as new scheme launched - March 2007 HomeLet
Rental insurance launch Portfolio Insurance from 10th July 2006 in the UK Letsure
has a new Glasgow offices December 2005 HomeLet
launches new low cost option landlord’s protection - July 2003
Also:
HomeLet Landlord & Tenant Insurance Sponsors Negotiator Award The 2008 awards
from The Negotiator Magazine took place at the London Hilton on the 11th November
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