Posted on

Building And Contents Insurance For Buy To Let Property At Your Service!

Article by Sadhana Dhanyal







Have you been looking for a favourable buy to let property? Are you wondering you may not find a favourable one that suits your interests most? If you think so, you are wrong. By doing a little research, you can zero in on the property of your choice. You can seek professional advice. The professional advisers can help you with buying tenanted property, property auctions and repossessions and with off-plan property investments. While choosing this kind of property, it is advisable that you don’t just look at high yield, high capital growth areas that are likely to already attract competition from other landlords, but at local infrastructure – schools, shops, public transport, roads, hospitals – planned developments and regeneration schemes. If you are a landlord and are contemplating to let out your property, you can avail buy to let property insurance. Under this insurance cover, you would be covered against: Property Insurance – This kind of insurance covers the apartment against most risks, such as flood, earthquake and fire. Insurance would cover the cost of repairing or rebuilding. Property owners can opt for additional covers against risks such as terrorism or the regular deterioration of the building. Contents Insurance – A landlord insurance policy would cover contents that the landlord owns in the building. These could be items like geysers, air conditioning and fittings. Other contents of a home that is owned by tenants, such as carpets, chairs and electronic gadgets, can not be insured by the landlord. Buy to let insurance may also cover contents in the communal areas. Buy to let buildings insurance ideally provides coverage for the building against any kind of risks.You can refer buildings and content insurance policy if you are a landlord and are planning to rent out or give your property on lease. This kind of policy provides you protection against all kinds of risks. It covers you against all kinds of risks such as threat to building and property. You will be protected against loss or damage through: * Theft * Storm and flood * Earthquakes * Explosions * Fire and lightning * Burst pipes and oil tanks* Subsidence * Smoke damage * Aircraft * Riots and vandalism * Vehicle impact * Falling treesAs is evident from the above stated eventualities, that they can occur at any given point of time. There is very little control that you can have over them. Hence, it is better to be prepared in advance to face any kind of eventuality. These are the events that you cannot tell how they may occur. There is very little control that you can have.



About the Author

Sadhana Dhanyal,content developer.For more information: Contents Insurance Advice and Contents Insurance Policy

Find More Buy To Let Building Insurance Articles

Posted on

When would you need a let property insurance quote?

Article by Richard Burgess







There are perhaps three situations under which you may decide to search for a let property insurance quote:

• you have just purchased a buy to let property and are looking for an appropriate let property insurance quote;

• you are currently an owner-occupier of a property but have decided to start renting it out in full or part (in which case, any existing owner-occupier insurance you have will become invalid and it will be necessary to seek what may be called landlord insurance or let property insurance cover etc);

• you are an existing landlord with buy to let insurance cover but wish to check whether or not your existing cover is still offering a cost-effective and appropriate solution in the current insurance marketplace.

Inevitably, when thinking about a let property insurance quote, price will figure high up on your list of priorities. Inevitable as that may be, it may be worth guarding against trying to interpret your landlord insurance quotation entirely upon price alone.

Different policies provided different levels of cover and it is typically a good idea to first and foremost evaluate the quotation in terms of its suitability for your needs.

Reading a policy’s cover for the first time, only in the event of a claim, is not advisable!

As a general rule, though there may be exceptions, a typical landlords’ insurance quotation (the terms landlords insurance, let property insurance and buy to let insurance, are typically used interchangeably) will provide cover information relating to:

• the structure of your property, typically including its fixtures and fittings (though it may be worth noting that these days not all policies offer subsidence cover as standard);

• its contents (e.g. furniture);

• your exposure to being sued by your tenants under the third party liability claims – though note, this will typically not include legal disputes relating to eviction formalities or the recovery of rent arrears etc.

Some landlords’ insurance policies may provide additional elements of cover relating to things such as:

• a loss of rental income, if this arises due to an insured risk;

• malicious damage caused by your tenants;

• trace and access cover (these cover some of the costs that you may incur if you have a tradesperson dismantling elements of your property while trying to find the source of a problem);

• potentially higher risk tenants (some insurance policies may not cover certain categories of tenants including DSS tenants and students etc).

All of these things should typically be highlighted within your let property insurance quote. If they are not, it may be highly advisable to read the supporting policy documentation prior to deciding whether or not the quotation is one that you wish to progress with.



About the Author

Richard Burgess is Director of cover4letproperty (http://www.cover4letproperty.co.uk) a dedicated UK landlord insurance broker. Their easy to use site and friendly staff will get you multiple quotes from specialist insurers for landlord insurance at a competitive price.

Let property insurance for high capital
Video Rating: 0 / 5

Find More Let Property Insurance Articles

Posted on

Secure Your Let Property With Landlords Building Insurance

Article by Neil Roberts







Any capable homeowner understands the value of securing his or her residence with the proper insurance coverage, thus, landlords with properties occupied by tenants should not have to be told that it is imperative they see to it that those properties are just as well secured. However, statistics show that many landlords erroneously under insure or improperly insure their properties, resulting in a disastrous outcome when they put in a claim and discover that the property was not satisfactorily covered.

If you own a let property, it is crucial that you secure it with satisfactory insurance, or else you take the chance of your wallet suffering a devastating blow when the insurance company denies or underpays on a claim due to unsatisfactory cover. For the insurance to be satisfactory, the first point you must recognise is that regular home insurance is improper coverage for let properties. Rather, you are obliged to advise the insurance company from the outset that you require landlords insurance since the property is occupied by tenants.

A friend learned that lesson the hard way, after he neglected to advise his insurance company that he had moved out of his home, and that tenants had moved in. His reasoning was that since the tenants were friends of his and the tenancy was more of an informal agreement, intended to be temporary while he decided whether to put the house on the market, he did not need to change the status of his insurance. Unfortunately for him, his insurance company did not share his point of view. High winds inflicted minor damage on the building, so my friend filed what should have been a routine claim, and it would have been a routine claim had the insurance company not discovered that he no longer resided on the premises. He received no money from the insurance company and had to pay out of his own pocket for the repairs.

Landlords property insurance contains a variety of practical coverage options that you can settle upon depending on your requirements and budget, but generally at a minimum you will require landlords buildings insurance to secure the actual structure of your property. Furthermore, in addition to being necessary for your property’s security, most mortgage lenders insist upon let properties having at least that level of protection.

Buildings insurance for landlords offers the same security as buildings insurance for homeowners, in that it protects the domicile against destruction wrought by conventional insurable disasters. Thus, if a natural or unavoidable disaster, including fire or stormy winds, destroys the domicile’s structure, you will be eligible to put in a claim with your insurance company rather than have to pay for any subsequent repair work yourself. Additionally, building insurance for landlords includes security against an assortment of other perils, so find out from your insurance company what additional perils are included in the cover they offer. Essentially, you want to confirm that your property is also secured against intentional and avoidable damage, since you are entrusting your property to strangers without having a sure way of knowing whether they are in fact trustworthy.

Meanwhile, it is also important that you take steps to ensure the property is not under insured. If the property’s structure is severely damaged, it will not do you any good to receive a sum that covers the value of the property if that sum is not enough to pay for all the necessary rebuilding work. So, remember that the amount of insurance you take out must be enough to cover an entire rebuilding of the property, as opposed to only enough to cover the property’s actual value.

Since the security of your investment is on the line, do not forget about the supplementary options available to landlords in addition to buildings coverage. These include landlords contents coverage, which if taken out congruently with buildings coverage can result in a discount on your premium, rent guarantee and legal expenses coverage.



About the Author

If you are a landlord and need landlords property insurance for your buy to let property then CIA Insurance can deliver everything you need for peace of mind. We offer a wide range of cover from landlords buildings & contents insurance through to legal expenses, rent guarantee and even DSS Insurance, student and asylum seeker cover.

Posted on

California Property Insurance: Law and Litigation

Consulting editor, Timothy R. Sullivan of McCormick Barstow in Fresno, CA [www.mccormickbarstow.com] and CEB Legal Editor Manager, Julie Brook [blog.ceb.com] discuss CEB’s newest book, California Property Insurance Law and Litigation. The book is designed to provide an overview of and to follow a first-party insurance claim from start to finish in California. In addition, attorneys of all levels of insurance claims expertise could use the book to get an overview of the insurance claims process, and to learn about the exceptions to general rules of the process. This book is the first of its kind which is exclusively devoted to property insurance. Also featured are emerging issues such as: coverage for terrorism, green building compliance, Chinese Drywall, volcanic eruptions, and more. Hear more in social media: LinkedIn: www.linkedin.com Facebook: www.facebook.com Twitter: twitter.com Visit the ad page bit.ly for more information or to purchase the book.
Video Rating: 5 / 5