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Insuring Buy-to-Let Property Kingston

Buy-to-let property investors have been warned they could be leaving themselves open to substantial liability if they are inadequately insured. If an investor chooses standard household insurance rather than policies designed specifically for landlords, the specialist buy-to-let lender has warned they face serious shortfalls.
Swinton
+44 (0) 20 8547 1322
High Street
Kingston Upon Thames
Robert Alexander
+44 (0) 20 8949 8888
10 Burlington Road
New Malden
Swinton
+44 (0) 2087 868866
104 Chessington Road
Epsom
Coversure Insurance Services
+44 (0) 870 458 5770
279 Kingston Road
London
M B Mulcahy Associates
+44 (0) 20 8543 2212
208 Merton High Street
London
Martin Harvey & Co
+44 (0) 20 8399 0993
308 Ewell Road
Surbiton
Coversure Insurance Services
+44 (0) 20 8337 5522
92 Central Road
Worcester Park
FLC Insurance Services
+44 (0) 20 8542 6999
41 Martin Way
Morden
Shene Insurance
+44 (0) 20 8878 7822
457 Upper Richmond Road West
London
H S Coleman
+44 (0) 20 8540 7062
94-98 Merton High Street
London
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Insuring Buy-to-Let Property

Buy-to-let landlords warned over home insurance Buy-to-let property investors have been warned they could be leaving themselves open to substantial liability if they are inadequately insured.

If an investor chooses standard household insurance rather than policies designed specifically for landlords, the specialist buy-to-let lender has warned they face serious shortfalls.

Most standard household policies are designed for owner-occupiers and can present some serious problems for landlords and buy-to-let investors.

According to Paragon, inadequacies include:

  • Unoccupancy: Ordinary household policies typically exclude burst pipes and theft cover if the property is unoccupied for more than 30 days. Longer periods of unoccupancy are comparatively rare in the case of homeowners, but for landlords carrying out refurbishment work, for example, or who may experience a void period, this time limit is far too restrictive.


  • Malicious Damage: While a specialist landlord policy should cover malicious damage by a tenant, most standard household policies carry a specific exclusion. And if the property is badly damaged, standard insurance policies will cover the cost of alternative accommodation but will not necessarily cover the loss of rental income.


  • Legal Bills: Landlords could face a large legal bill if a tradesperson carrying out work to their property is damaged. Homeowners can be held liable in these circumstances, and once again personal legal liability will be covered by their policy. But this important protection will typically exclude any liabilities arising in connection with the policyholder's trade or profession - not much use if you are a professional landlord. A specialist let property insurance policy should always provide public liability and 'employers liability' in case the tradesperson happens to be employed by the landlord.

    "Landlords need to carefully consider their insurance needs and ensure they are properly protected," said Tony Armitage, Paragon Insurance director.

    "The biggest irony is that some landlords are actually paying through the nose for potentially unsuitable cover."

    • Click here to read more from aboutproperty.co.uk