{"id":2998,"date":"2016-10-05T15:51:00","date_gmt":"2016-10-05T15:51:00","guid":{"rendered":"https:\/\/dev.withcreative.co.uk\/lforl\/?p=2998"},"modified":"2016-10-05T15:51:00","modified_gmt":"2016-10-05T15:51:00","slug":"sure-youre-insured","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/sure-youre-insured\/","title":{"rendered":"Are You Sure You\u2019re Insured?"},"content":{"rendered":"

\"shutterstock_128908430\"<\/a><\/h2>\n

Specialist Landlord Insurance and Why You Need It.<\/h2>\n

If you\u2019re the kind of person who\u2019s willing to risk everything, who isn\u2019t bothered about huge financial losses or who can pay out on claims for damages without worrying, you might think landlord insurance is unnecessary. But if you\u2019re like most people, it\u2019s something you need to have.<\/p>\n

Let\u2019s be straight, it\u2019s not a legal requirement, but if you have a mortgage on the property you rent, you\u2019ll probably find that it\u2019s a condition of that mortgage to have specialist landlord insurance<\/a>.<\/p>\n

The reasons are simple. However good your tenant, even if it\u2019s a family member, a normal homeowner policy won\u2019t cover your buildings or contents if you rent all or even part of it. Check your home\u2019s policy, look at the exclusions. You\u2019ll see what we mean.<\/p>\n

Increased risk<\/h3>\n

Mortgage lenders aren\u2019t being awkward, and the insurance industry isn\u2019t trying to hoodwink people. The specialist policies<\/a> reflect the reality of increased risk. Remember \u2013 it\u2019s not the occupier\u2019s money that\u2019s at stake, but your investment. Do you trust your tenant as much as you trust yourself? Even if they\u2019re brilliant, careful tenants you\u2019ve known for years, accidents do happen. Fires, floods and storms don\u2019t wait to check if you\u2019re insured before wreaking havoc on the structure of your property.<\/p>\n

Your contents<\/h3>\n

Then there are the contents to consider. Even an unfurnished let may have kitchen units, curtains, carpets, white goods \u2013 it all adds up. And again, without specialist cover, it won\u2019t be protected. Will the deposit your tenant\u2019s given you cover the cost of a new kitchen? Probably not.<\/p>\n

Your liabilities<\/h3>\n

It\u2019s not something we want to dwell on, but there\u2019s also a small matter of property owner\u2019s liability. As a landlord, you have a legal responsibility to ensure that your property does not pose a risk to tenants or their belongings. Say, for example, your tenant received a shock as a result of a wiring problem. You could face a substantial claim.<\/p>\n

Be prepared<\/h3>\n

A frightening proportion of landlords don\u2019t have adequate insurance<\/a>. Of them, many don\u2019t realise the risks they face. No one likes to be pessimistic, but ignoring the possible problems doesn\u2019t stop them happening. It just makes them a lot more serious and a lot more expensive if they do occur.<\/p>\n

Landlord Insurance cover makes sense whatever size your property portfolio. If you rent a room to a lodger, you should check it out. If you let a flat where the freeholder insures the whole building, check the details and add extra cover if necessary.<\/p>\n

The good news<\/h2>\n

There\u2019s always good news if you look for it. Here, the good news is that cover is affordable and can be tailored to fit almost any circumstance. Whatever the tenant type and whether it\u2019s a single buy-to-let or a chain of HMOs. You\u2019ll need a formal tenancy agreement<\/a> for a landlord insurance policy to be valid, but if you\u2019ve been following our posts, you\u2019ll have that sorted.<\/p>\n

If you\u2019d like to talk about Landlord Insurance, call us. Our number is 0333 577 9050.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Specialist Landlord Insurance and Why You Need It. If you\u2019re the kind of person who\u2019s willing to risk everything, who isn\u2019t bothered about huge financial losses or who can pay out on claims for damages without worrying, you might think landlord insurance is unnecessary. But if you\u2019re like most people, it\u2019s something you need to […]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nAre You Sure You\u2019re Insured? - Legal For Landlords<\/title>\n<meta name=\"description\" content=\"However good your tenant, even if it\u2019s a family member, a normal homeowner policy won\u2019t cover your buildings or contents if you rent all or even part of it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/sure-youre-insured\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are You Sure You\u2019re Insured? - Legal For Landlords\" \/>\n<meta property=\"og:description\" content=\"However good your tenant, even if it\u2019s a family member, a normal homeowner policy won\u2019t cover your buildings or contents if you rent all or even part of it.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.withcreative.co.uk\/lforl\/sure-youre-insured\/\" \/>\n<meta property=\"og:site_name\" content=\"Legal For Landlords\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-05T15:51:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dev.withcreative.co.uk\/lforl\/wp-content\/uploads\/2016\/10\/shutterstock_128908430-300x200.jpg\" \/>\n<meta name=\"author\" content=\"Joanna Plane\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joanna Plane\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dev.withcreative.co.uk\/lforl\/sure-youre-insured\/\",\"url\":\"https:\/\/dev.withcreative.co.uk\/lforl\/sure-youre-insured\/\",\"name\":\"Are You Sure You\u2019re Insured? 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