Culture and Society : Landlords Buy To Let Insurance Made Easy
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By: Shaun Parker
 
Date Submitted: 2009-03-25 22:23:42 - Article Views: 20103
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Making a decent return on your investment has become increasingly difficult of late, thanks to the global credit crunch, which has resulted in the UK recession. With interest rates so low, investing your money into banks and building societies is far from prudent these days, and with buy to let mortgages much harder to come by, owning a second property is not so easy either, but despite the slowdown of the property market it still can be a decent cash cow.
Of course the rental market has not slowed - people still need homes and if they can't obtain a mortgage, especially if they are first time buyers, they will rent. So if you are lucky enough to be in a position to obtain a buy to let mortgage then it can be a worthwhile investment, but there are some factors that you must be aware of.
Insurance is one key area that must not be overlooked. A buy to let policy is completely different to a standard home insurance policy. A landlords buy to let insurance policy can be complicated and it is best to obtain one that suits your every requirement. Landlords building insurance would cover the property for any structural damage etc but you will also have to insure your buy to let property with a contents policy, even if you are not letting the property furnished. Fixtures and fittings are not covered under this policy so another policy will need to be obtained in order to cover your property for water damage or if your boiler blows.
It can be a headache choosing the policies that will suit your buy to let property so it is always best to use the services of a specialist insurance company that deals specifically with landlords buy to let insurance. Buying a group of policies for your buy to let premises will effectively save you money so bear that in mind when enquiring about a policy to suit your requirements.
An important insurance policy when considering landlords buy to let insurance is: Property Owners & Landlord's Liability Insurance which covers you if your tenant or any public citizen suffers an injury in an accident at your property. This cover is normally included in Landlord's Building Insurance policies but always check before agreeing the policy. With freehold properties, often the freeholder insures the premises so you should make sure that Property Owners & Landlord's Liability Insurance is included in the policy, if it is not then you must obtain a policy to safeguard any accidents, which could result in exorbitant compensation and court costs.
It is advisable to safeguard your investment and get the insurance policies that suit your premises as you never know what can go wrong when letting your property to a tenant. Why run the risk when affordable insurance policies are available from a landlords buy to let insurance specialist who can guide you through the jargon and find the most suitable and affordable policy for you. |
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 Author Resource Required for Reprint:
Shaun Parker is an insurance broker with many years of experience in the landlords buy to let insurance sector. Find out more about landlords buy to let insurance at http://www.landlords-building-insurance.co.uk
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