Rental insurance - Letsure offering insurance products for Landlords and Tenants.

Letsure Landlord Insurance and Tenant Insurance & Holiday Homes UK

October 2007

We have been advised that as Letsure is now owned by Erinaceous Insurance Services who also own HomeLet that our link to Letsure now has to go HomeLet

Low Cost Landlord and Tenant Insurance

Insurance and Risk Management for Landlords..... protecting your investment property jml Property Insurance.co.uk (jml property services) in association with Letsure.

Letsure offers Landlords specialist insurance cover and advice to help protect their investment against any unexpected risks they may face when letting

Letsure offers Tenants specialist insurance cover and advice to help protect their interest in property

Click Here for HomeL Landlords Household Insurance - Instant Online Quote

Jeffrey Milner Ltd T/A jml Property Services acts as introducers to Lumley Letsure Ltd who is authorised and regulated by the Financial Services Authority (FSA). Letsure's FSA registration number is 313817. Letsure insurance policies are underwritten by a limited range of insurers, a full a list of which is available upon request.  Letsure Ltd Registered in England No. 03010153 - Registered address: Phoenix House, 11 Wellesley Road, Croydon, CR0 2NW Letsure is part of Erinaceous Group Plc 

Brief summary of Landlord Insurance

Brief summary of Tenant's insurance

REMEMBER WHETHER YOU ARE A LANDLORD OR TENANT - YOU SHOULD HAVE SUFFICIENT INSURANCE COVER

What is Letsure?

Letsure Provides specialist solutions for the residential letting market, Letsure helps landlords to protect themselves against the unique risks associated with property rental.

Lumley Letsure Limited is authorised and regulated by the Financial Services Authority, Registration number 313817 and is also a member of the British Insurance Brokers Association (BIBA).

Lumley Letsure Limited a subsidiary of Lumley Limited is a market leader for quality in the residential letting's sector.

Lumley Letsure Limited is also a recognised Investor in People.

Lumley Limited specialises in risk and insurance businesses operating in niche areas. The ultimate group holding company for the Lumley business is Lumley Holdings Limited; Lumley Limited is an operational subsidiary of Lumley Holdings Limited. The Lumley name has been known in the insurance marketplace for over 100 years.

Letsure has grown rapidly and has enjoyed growing revenues and an increased customer base in each successive year and now employs in excess of 120 employees on a permanent basis. Letsure distributes its products to more than 5,000 points of sale in the UK.

Letsure is a major provider of insurance products and services to the lettings industry They offer Solutions for landlords from a single property owner to an owner of a large portfolio; They have a dedicated customer service centre providing support, offering advice and quotations and Business systems which provide comprehensive support

The above information has been prepared by Letsure

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Erinaceous Insurance Services acquire Lumley Letsure

Andy Halstead the Managing Director of Erinaceous Insurance Services Ltd has announced on the 8th March the acquisition of Lumley Letsure. Lumley Letsure are one of the main competitors of Erinaceous's company Homelet. Andy Halstead says " This acquisition provides us with an excellent opportunity to combine experience and deliver a wider range of leading edge solutions that will enhance the value of the letting agents business and delight their customers. In the short term there will be no change to the HomeLet range of products and services and we will contine with business as usual".

Information about Homelet and other Erinaceous Insurance Services

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Landlords' insurance cover:How much is enough?

Over insurance is pointless under insurance can be costly, so how do your clients get the balance right?

Individual circumstances differ. Someone letting their primary residence to go abroad may assume that existing household insurance can run on. Other purchasing an investment property intended for letting unfurnished may believe their requirements are minimal.

Clients must understand that a standard insurance policy may not be sufficient. Landlords face unique risks when letting property so need to think carefully about protecting their investment.

The first essesntial is adequate buildings covere where the property is insured for its full re-building cost, not for its market value. Depending on area and type of property re-building costs could be substantially lower - or even higher.Market value is driven by location whereas re-building is based on current contruction costs.

Underpinning the calculation of rebuilding cost is external floor area, a figure more than 90% of property owners do not know. If the property is new-build or recently purchased, it may be possible to find the rebuilding cost on the valuation report or mortage survey. Otherwise, a guide to assessing and calculating rebuilding costs can be found on the The Association of British Insurers' website www.abi.org.uk

Contents cover is dictated by whether the property is let furnushed or unfurnished. For furnished property, the client can eliminate guesswork by using the room by room inventory and putting an estimate of replacement costs against each item. The accumulated value of the contents may surprise them by being 20% or 30% higher than they assumed.

What about unfurnished property? This is still likely toinclude kitchen appliances,carpets and curtains. Landlords purchasing new investment properties will invariably find that kitchen appliances are built-in, in which case appliances and fitted units are covered by the buildings insurance. In this event, the amount of cover needed will be minimal.

Specialist landlords' household policies can provide both buildings and contents cover, with contents cover tailored to provide full cover for furnished or limited cover for unfurnished.A specialist policy will also look beyond protecting bricks, mortar and possessions. Elements such as protection against damage by tenants, full cover for property unoccupied betweeb lets, loss of rent as a result of an insured event and public and employer's liabillity cover are also options. And as your advice should extend to protecting the landlord's investment, you should also encourage rent and legal protection for unforseen situations where things can go wrong with a tenancy. Source: Tim Wakelin of Letsure

The above information has been supplied by Tim Wakelin of Letsure and that jml Property Services takes no responsibilty for its accuracy. December 2005

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New to letting or renting?

Take a look at our landlords advice and tenants advice guides

Why do I need Landlords Insurance?

See also

You need insurance cover for whatever the weather, Adequate Buildings insurance - keep your home / investment protected

and

Landlord Insurance Article by Philip Suter

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