Landlord Insurance - Landlord Insurance - Homelet e ee Endsleigh and Rentshield Direct

Isn't time you thought about insurance for your rental property?

The UK has seen a massive increase in the number of property investors, from the private landlord who owns a single investment property, to the professional landlord with a portfolio of properties.

Protect your rental property now. Most normal home owner policies provide no cover whatsoever if you let your  rental property. The unthinkable happens - Are you covered? ( If you want to go straight to the Homelet QUOTE page please CLICK HERE)  

As the properties you own are probably the biggest investment you will ever make it makes both economic and common sense to ensure that they are fully protected by having the best possible insurance. The insurance should be with a reputable company at an affordable and competitive premium and with an insurer who is going to deal with all claims quickly and as sympathetically as possible.

Landlords insurance cover has some different features to normal household insurance. As well as buildings and contents cover, a specialist landlord policy can be tailored to include cover for liability insurance, legal expenses, rent guarantee and also emergency assistance. (Click Here to see Section Below)

Get a Quote, arrange Immediate Cover Online - Pay monthly or annually. Pay by Credit card, or by Direct debit.

Homelet landlords insurance

HomeLet provides a range of insurance products for Landlords & Tenants:

LANDLORD’S INSURANCE   - Fully inclusive Landlords insurance for 

• Buildings
• Contents
• Landlords Liability
• Rent guarantee
• Legal Expenses
• Emergency Assistance
• 

LOW COST LANDLORDS INSURANCE – Low cost option

Low Cost Landlords Insurance for

• Buildings

Spread your insurance premium costs - pay monthly

EMERGENCY ASSISTANCE - Ensure your rental property is covered before the worst happens - HomeLet Emergency Assistance - Ensure that your property is covered before the worst happens. CLICK HERE

Do you own more than Two Rental Properties - Want to save money? Click on Logo Below

HomeLet provides an excellent  range of insurance and other related products for Landlords:

Comprehensive Buildings Insurance	Full Contents Insurance
Accidental Damage Option	Excess Free Option
Low-cost Buildings Insurance	Limited Contents Insurance
Legal Expenses	Rent Guarantee and Legal Expenses
Emergency Assistance

Homelet is a trading style of Erinaceous Insurance Services Ltd, Phoenix House, 11 Wellesley Road, Croydon, Surrey CR0 2NW, England who are authorised and regulated by the Financial Services Authority in the UK. Their FSA Register number is 308724.Jeffrey Milner Ltd T/A jml Property Services acts as introducers to Homelet

Endsleigh landlords insurance

Landlords

Endsleigh has long-established expertise in providing specialist cover for landlords. Buildings and / or contents cover are available with a monthly premium option or as an annual one off payment.

• Contents only option
• Extended un-occupancy cover for your buildings/ contents for periods of up to 120 days
• Optional extra home emergency
• Accidental damage option available

Rent Guarantee

Endsleigh offers specialist legal expenses and rent guarantee insurance. Endsleigh's policy provides legal defence, legal prosecution and rent arrears cover. Option of either a 6 or 12 month policy available

• Protection against rent arrears while we handle your repossession claim
• Action to remove squatters
• Legal defence cover
• Easy calculation

Jeffrey Milner Ltd T/A JML Property Services acts as an introducer to Endsleigh. Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its website at www.fsa.gov.uk/register/home.do Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE

MORE TH>N Landlords Insurance

New to letting or renting?

Take a look at our landlords advice and tenants advice guides

Why do I need Landlords Insurance?

Landlord Insurance Article by Philip Suter

Why use a letting agent?

REMEMBER INADEQUATE INSURANCE COVER CAN COST A FORTUNE! - Your  investment property (or home) will be one of the most valuable things that you own.

Landlord Insurance for Let Properties

This is a most important area that should not be overlooked when Landlords let a property. The risks associated with let properties are significantly different to owner occupied properties therefore you are well advised to use an insurer who specialises in this type of property insurance. 

An existing, standard, buildings or contents insurance policy on a property owner occupied may not cover the property or contents when it is let, may restrict the cover and or increase the premium. Years ago insurance companies were not happy about covering let property in the UK, but today you have a choice.

Two of these long established specialists - Homelet, and Endsleigh can be contacted on this page by clicking on the appropriate section above. You can obtain a quote on line and arrange cover on line. You can pay monthly or annually.

You should remember that the following categories of Insurance for Landlords should be looked at:

Buildings Insurance -This is for re-Build costs - not market valuation. It is essential that your property is adequately insured. Sometimes the re-building value will be considerably lower or higher than its market value. Older properties in the lower priced areas in the UK will cost much more to re-build that their market value.

In the UK many properties are under insured, which means in the event of a claim, insurers will not pay the full amount of the claim. If you have any concerns about the amount of cover you need for re-building contact a professional qualified surveyor. If you have an apartment, the buildings insurance will often be part of the amount you pay out annually for service charges and ground rent. Check out the situation with the block management agents. (See below)

You should also advise and obtain consent to let your property from your mortgage lender, existing insurer and head lessee (for leasehold properties). Failure to obtain written consent from these parties may render your insurance void in the event of a claim.

Many general insurers and mortgage lenders will not cover the property if you intend to place certain categories of tenants in your property i.e. Student, Multiple single sharers and tenants in receipt of State Benefits. Check this out.

Usually buildings policies will provide an element of Employers Liability cover. This covers claims for death or injury to anyone you employ at your property i.e. a gardener, painter etc. If you are letting to students or to tenants in receipt of state benefit the university / local authority will normally require a minimum cover.

It is also essential that your policy includes Property Owners liability cover to a similar limit to cover injury, death or damage to individuals on or adjacent to your property.

When you take out a Buildings Policy the main insured perils should include Fire - Lightening - Aircraft - Explosion - Smoke - Impact - Burst pipes or leakage of oil - Storm or flood - Subsidence damage - Theft- Malicious damage. (Some policies will give the option of malicious damage caused by the tenants - a valuable option for let properties).

Most policies will compensate you for loss of rent following damage from one of the above perils if the property is uninhabitable. Check this out with your block management agent if you have an apartment and don't arrange the buildings insurance yourself.

It should be noted however, that damage to property caused by tenants who are classed as DSS aylum seekers, refugees or students will no longer be covered under some buildings insurance for blocks of apartments and you should seek professional advice. If your flat is let and you have not taken out additional insurance, you will be held personally liable in the event of damage to property, including neighbouring properties, howsoever caused, including all costs incurred by the Management Company, solicitors, neighbours etc.

Contents Insurance - A high percentage of owner occupied properties in the UK are under-insured for the contents. Generally individuals place a value of what the contents are worth not what it would cost to replace them with new items.

Most specialist insurers will offer the option of a full contents policy or a limited contents policy. Limited Contents Cover. As many UK properties are let unfurnished / part furnished. A limited contents policy would typically give a fixed limit of cover for items such as: Carpets - Curtains - Blinds - Light fixtures and fittings - Kitchen white goods on a new for old basis.

If your property is fully furnished or the limited contents would cost more than £5,000 to replace, you should have a full contents policy. You would normally select the sum you wish to insure for; again this should be adequate to replace all of the contents on a new for old basis.

Emergency Assistance -This type of cover will provide assistance for the landlord and the tenant in the event of an emergency at the property such as: Failure of the electricity supply - Failure of the cooking facilities - Lost keys - Plumbing problems - Leaking roofs or guttering - Security of doors and windows. Policies will provide parts and labour cover up to a specified amount and either the landlord or the tenant can call a 24hr 365 day Helpline. (Check out the details on offer from the insurance company)

If you have not taken a full management service from your letting agent or do not live near your property this can be a cost effective solution. Please note that that these policies cover Emergency Assistance only and not a repair service through lack of routine maintenance.

Legal Expenses Insurance - Even when using the services of a professional letting agent, problems with tenants can occur. In many cases the tenants personal circumstances have changed during the term of the tenancy.(See Section Advice for Landlords) Situations like loss of their job, failure of their business, a relationship break-up, accident or illness will effect the tenants ability to pay the rent or their inclination to move out at the end of the tenancy.

All these situations can be resolved but will usually involve a Court hearing and solicitors costs. Legal expenses insurance will usually cover all of your legal costs, solicitors/barristers fees, Court and bailiffs' costs. Most such policies will cost well under £100, which represent less than 45 minutes of a specialist solicitors time on a normal fee paying basis. The "average" legal cost of a possession hearing in 2001 was £785, many cost well over £1,000.

Rent Guarantee Insurance -These policies are invaluable for many landlords. As a tax deductible premium this will guarantee you receive the rent you are expecting from your property regardless of your tenants personal circumstances, ability or willingness to pay the rent.

If you have a mortgage on the property or have calculated your rental income verses your outgoings this will ensure you do receive your rent. Most such policies will include the legal expenses, as detailed above. You will receive your rent and the legal fees to obtain vacant possession will be covered.

Policies will usually guarantee your rental for a fixed period, typically 6 or 12 months. Some policies will provide additional cover once you have obtained vacant possession until you are able to re-let your policy.

The costs vary from a fixed cost policy or are commonly rated as a percentage of the annual rental figure, typically 3-4%.

N.B. This information should not be relied on for accuracy and is presented here without the responsibility of jml Property Service and the website it is being displayed at. ©jml property Services 12-04

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Why do I need Landlords Insurance? and Article on Landlord Insurance

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Why use a letting agent?

• Landlords and Homeowners often have full time jobs as well as buy to let investments, it is therefore frequently the case that with so many demands on their time they cannot always be available to handle day-to-day events connected with their property
• If this sounds like you then using a letting agent offering full property management could be an essential and economical way of ensuring the smooth running of a tenancy, while protecting the property and still making a profit.
• Whilst letting your property through a specialist letting agent is not strictly necessary, a good agent will take some of the effort out of the job of finding and selecting tenants, drawing up tenancy documents, and the day-to-day maintenance of the property.
• Because you are quite literally placing your property in their hands, the choice of a letting and managing agent is as important as in choosing any other professional such as a solicitor or accountant.
• Unfortunately demand for property to rent has encouraged many firms and individuals to set up as letting agents many of them are completely unregulated and have little or no experience, do not operate bonded client accounts or are bound by any code of practice. Remember, as the landlord you may be personally liable for any mistakes made by your agent. So choose carefully - Why use a letting agent - Information supplied by Homelet

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