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Let Property Insurance
When insuring a property which you intend to let, the risks associated are very different to a normal home insurance policy.
Buy To Let insurance isn’t a legal requirement but it is wise for anyone who is a landlord to keep their investment protected.
Also known as landlords insurance the insurance covers the risks that a standard contents and buildings insurance policy doesn’t.
Building insurance covers your rented property against fire, storm, flood, falling trees, lightning, earthquake, explosions. You can include loss of rent cover for insured perils. For example, if there was a fire and you couldn’t collect your rent from your tenants, then cover could be in place to reimburse the loss of rent for a 12, 24 or 36 month period.
Be sure to arrange adequate sums insured. The effects of being underinsured can be devastating as you will not receive the full settlement cost of your claim. Older properties can have a higher rebuilding cost so make sure you insure for the full reinstatement cost including clearance of the site.
Tenants are responsible for their own personal belongings. However, if your property is let furnished then the insurance will cover beds, carpets, curtains, sofa, tables and chairs if they are damaged or stolen.
Be sure to arrange adequate sums insured as you will not receive the full settlement cost of your claim should a loss arise.
For further information on David Insurance | Let Property Insurance or our many other insurance products, speak to our dedicated team at David Insurance on: 0115 9705073
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