Monthly Archives: May 2012

Advice on Tenants Insurance

Whatever type of property you rent you need to have tenants insurance, the vast majority of properties in the UK have some type of insurance, usually standard home policies. These cover things like:-

  • Burglaries
  • Loss of belongings
  • Accidents
  • Fires

Having tenants insurance in place means if anything does happen in your rented accommodation you can make a claim to cover your financial losses. It’s worth noting that your landlord’s home insurance will not cover your personal possessions, also if you live in a furnished property which is provided by a landlord then that is covered on their insurance, however not your own items.

Be protected

If you intend to stay in rented accommodation for a lengthy period of time and make it your home, then you should definitely consider buying tenants insurance. If something goes wrong and your personal goods are broken or stolen you would have to replace them yourself and incur the costs. Having tenants insurance purchased from reputable online brokers will take care of that for you. Theft and accidents can occur at any time so it makes sense to be protected with tenants insurance which won’t cost you a lot of money from reliable brokers.

Benefits of tenants insurance

Obviously as a tenant you won’t require buildings insurance, that’s the responsibility of your landlord although do buy landlords contents insurance. You might own furniture and white goods as well as personal items which may be sentimental to you, without insurance cover an event such as a fire or flood could cause significant damage to your possessions, so speak to an established broker today about tenants insurance to benefit from:-

  • Accidental cover as standard
  • Protection of deposit
  • Alternative accommodation
  • New for old contents cover
  • Liability cover for accidental damage to landlord’s fixtures and fittings

Comprehensive tenants insurance

In addition to the above brokers can provide extra insurance policies such as personal possession cover. Brokers specifically design tenants insurance for people living in rented accommodation to protect them and their belongings. It’s worth considering purchasing fully comprehensive tenants insurance which protects any damage to the rental property itself. Request a free no-obligation today for tenants insurance from experienced brokers who offer the right cover at the right price. Contact an adviser by e-mail or speak to a friendly member of staff directly by telephone to find out everything there is to know concerning tenants insurance.


Why you should add rent guarantee cover to your landlords insurance

Rent arrears are a common problem for many landlords.  Recent figures showed that the number of tenants with more than two months arrears increased by 11,400 in the last 12 months and evictions rose by 11 per cent in the same period.

If your tenants refuse or are unable to pay their rent, you could end up hundreds of pounds out of pocket as well as facing a tough legal battle.

However, you don’t necessarily need to foot this bill yourself.  Rent guarantee insurance is available on many landlords insurance policies and it is designed to help you ensure that you aren’t left high and dry if your tenants don’t pay.  Keep reading to learn more about this valuable protection.

What is rent guarantee insurance?

Rent guarantee insurance is designed to provide financial support to you in the event that your tenants don’t pay their rent.  Most insurers let you add this cover to your landlords insurance for an additional premium or you can buy it as a standalone policy.

This cover typically provides a monthly sum to you to replace any losses that you incur as a result of your tenants not paying their agreed rent.

Landlords insurance also offers the option of legal expenses cover. This cover is designed to cover the costs of court action of your tenants are in arrears.

Finding cheap rent guarantee cover on your landlords insurance

Rather than taking out a separate rent guarantee policy, you may find it cheaper and more convenient to include this cover with your landlords insurance.

Many people head online to search for the best value rent guarantee cover.  Online comparison sites allow you to compare the prices and benefits of landlords insurance with dozens of leading insurers. Alternatively, you can research the cover available by getting quotes from individual insurers or by seeking the help of an insurance broker.

When you undertake your comparison, make sure that rent guarantee cover is included with your chosen landlords insurance policy.  The cheapest landlords insurance policies may only offer basic cover and may not include extras such as legal expenses or rent guarantee cover.  However, while you may save money on your premium, you could end up paying much more in the long run if you’re not adequately protected.

Your cheap landlords insurance policy could quickly look like a mistake if it won’t pay out when you come to make a claim.

To ensure you get the right landlords insurance cover at the right price, visit Landlord Insurances who can provide online quote from a panel of specialist landlord insurance providers.