Many people never think their property will be affected from things like subsidence but it pays to make sure you buy affordable insurance if you do find out you live in an area that is prone to subsidence. To keep the price of insurance within your budget talk to a specialist insurance adviser especially if the property has been underpinned which insurers will take into account when working out the risks and costs. Making a claim on a subsidence insurance policy is often stressful, however if you buy your policy from http://www.thepropertyinsurer.co.uk/subsidence_insurance/ this reputable company will do all the hard work for you.
What you can do to prevent subsidence
There are a number of suggestions you can carry out to prevent subsidence or at least stabilise your property such as:-
- Tree removal or reduction
- Drainage repairs if a leak is discovered
If these are not the causes of subsidence, then unfortunately you may have to make a claim on your policy to have your property partially or fully demolished. This is the worst case scenario and can often be prevented by having subsidence insurance in place where repairs, rebuilding or renovations can be carried out when you make a claim on your policy.
Get the right level of cover first time around
Brokers will do all the legwork for you when it comes to buying subsidence insurance, they use their expertise and have contact with many of the UK’s leading insurance companies to find the right level of cover first time around for their many clients. Online advisers can put you in touch with a specialist in no time at all who provides cover and prices to suit most budgets. Ask for a quotation first to see for yourself how reasonable prices really are and the amount of protection on offer, doing your homework will pay off in the long run to get the very best subsidence insurance on the market.
Don’t waste any time, get protection now
It’s not advisable to waste too much time searching for subsidence insurance in case disaster strikes, click online to find great deals and an insurance company that cares passionately for its customers. Protecting your home and its contents is worth every penny via subsidence insurance, should the worst happen and your home is badly affected by subsidence you have the reassurance that insurance brokers are right behind you by compensating you no matter how much damage is caused.Read More
Most of us don’t like simply buying the first thing we see when out shopping and there is no reason why we should feel differently about insurance:
- firstly though, it’s important to note that if you’re becoming a landlord the ordinary owner-occupier buildings and contents cover just isn’t going to be applicable – you will need landlords cover;
- such cover in some respects is fairly conventional and familiar, providing buildings and contents insurance plus third party liability but it is also different to typical owner-occupier cover in several important respects;
- those differences might start with higher levels of third party liability protection, something that might be understandable given the perhaps higher risks of you being sued when you have tenants in your property;
- other differences might include, for example, cover for loss of rental income if you’re forced to ask your tenants to vacate the property to make repairs following an insured event causing damage etc;
- as you might imagine, insurance policies may vary considerably in the detail of the cover they provide and some might just strike you as being more suitable for your needs than others – so that is the first good argument for shopping around rather than taking the first policy you see;
- another reason is related to the terms and conditions that are inevitably part and parcel of any insurance policy. Contrary to what some people believe, these exist to try and help policyholders by making it very clear what the policy covers and what it doesn’t. They may also clarify your responsibilities as part of the deal. Once again though, some Ts and Cs may be more to your liking than others but you’ll never know that unless you shop around and compare options;
- price is, of course, always a consideration where cover is concerned and it would be naïve to say otherwise. Nevertheless, when comparing prices, remember to keep them in context against the cover being provided by the policy, as a cheap policy might not appear to be so appealing if it fails to cover a set of circumstances in the event you need to make a claim.
In a sense, many of us may feel that we don’t need to have the benefits of shopping around explained to us. Yet insurance might be different because for many people it is a necessary but not intrinsically interest subject. That means that the temptation to simply take the first one you see may be strong.Read More
It may be that you have no idea as to why you may need special insurance for an empty property. These reasons may help demystify what this cover is and what it does:
- insurance providers may typically regard an unoccupied property as being at a higher statistical risk of certain categories of problem, than a property which is occupied;
- of course, they may also recognise that it would be impractical for property to be occupied 24×7x365 and therefore typically they may include an element of cover for unoccupied properties in their standard landlords insurance policy;
- although the figures may vary from one policy to another, it might not be unusual to find that a standard policy will cover an unoccupied property for up to 30 consecutive days;
- that allocation is typically intended to cover things such as standard holidays and tenant changeover periods etc;
- if you pass the specific number of days with your property sitting unoccupied, your standard landlords insurance may no longer be valid;
- in such situations, you may need to think about unoccupied buildings insurance;
- such cover may typically be available from providers, who may be more than happy to provide an appropriate quotation;
- it might be worth pointing out that your property may move into unoccupied status even if the circumstances are entirely beyond your control;
- examples of that might be tenants failing to arrive when planned to take up their tenancy, building or redecoration work overrunning or your property being involved in legal proceedings, such as probate or divorce arrangements etc;
- the cover may place certain responsibilities upon the policyholder, typically including things such as the need to regularly visit the property for inspections and to rectify any observed problems;
- you may also be required to ensure that any external garden and surrounding areas are kept in lived-in condition, so as to discourage potential burglars and vandals etc.
- it may not be sensible to take chances with the cover of your property, so if you suspect it may be unoccupied for a period, it may be worthwhile finding out more about an unoccupied property insurance quote.
It’s a question which has been fought over for many years now. The decision whether to furnish a property before renting it out or not has brought a lot of debate from both endsof the spectrum. But the truth is that the landlord must first choose their target market carefully. For example, a property for students will probably require furnishing.
Insurance considerations must also play a part in the decision. If budget landlord insurance can’t be found then it might be better to avoid furnishing the property.
Why Furnish a Property?
• People will pay more for a furnished property.
• The landlord can charge more when it comes to people who only want to rent a property for a short time.
• Young professionals and students are more likely to opt for a furnished property.
• Offset a 10% tax allowance against income from the rent to cover damage to furnishings.
• No storage or transport costs if the landlord intends on moving back into a property.
Why Avoid Furnishing a Property?
• If a tenant damages a piece of furniture then the landlord will have to replace it.
• Deposit conflicts can get messy as determining the condition of the furnishings can be difficult.
• Lots of furniture can actually put potential renters off.
• Any furnishings will require additional insurance cover.
• Safety and fire regulations must be strictly adhered to, and the landlord is responsible for this.
Why Leave a Property Unfurnished?
• Tenants are encouraged to stay longer if their own furnishings are present within the house.
• Selling and moving out of the house is made easy.
• Landlords don’t have to cover the costs of damaged furniture.
• Landlords have no obligations when it comes to covering a tenant’s furniture in any budget landlord insurance policy.
• It’s possible to obtain void periods when it comes to council tax.
Why Avoid Leaving a Property Unfurnished?
• Furnished properties lose out on a 10% tax allowance which can be claimed as part of wear and tear.
• Potential tenants may be put off if a property is empty.
• The corporate let market may be considered of-limits to landlords who specialise in furnished properties.
• If a tenant is moving out then this could put off new tenants which are being shown around as their taste in furniture may be attractive only to very specific tastes.
Owners with property to let can find budget landlord insurance for furnished and unfurnished lets at landlordbuddyRead More
If you let out your property to tenants, or are planning to do so, then you may have decided that you want to invest in the cheapest landlord insurance that you are able to find.
One thing to remember if this is your aim, however, is going with the cheapest policy is not always the most suitable option. This is in addition to the fact that whether it is cheap or not is something that only you are able to decide based upon your own unique circumstances.
By only using price as your guide to which let insurance insurance to purchase:
- you may end up with less-than-adequate cover;
- when you make a claim in the future you may find that you are not insured;
- you may not have the peace of mind in knowing that your investment is protected.
Once you know that it is the level of cover that is the most important factor and not the price of the insurance, here are some potential situations when you may find that having buy to let home insurance turns out to be a useful investment:
- one area where finding the cheapest landlord insurance may be convenient is when you experience damage to your property. If your property is damaged by fire or a storm, you may find that the repair bill is considerable, and insurance may help to cover the costs of the repair;
- you may also find that if your property is significantly damaged you may not be able to let it out to tenants, and as such you may lose an important source of income. Some insurance policies may cover part of your rental income in such a situation (if you already had tenants in there at the time of the event), so this may be another good reason to invest in it;
- if you have contents within your building and they are damaged by tenants, you may find that you face a costly repair bill. However, some let property insurance policies may provide cover for malicious damage to your property by tenants, in which case you may find that you are protected from this;
- another feature which you may want to consider is unoccupied property insurance. Vacant home insurance is not included on a landlord insurance policy, but if you invest a bit more in this separate insurance policy then you may find that you are protected when making a claim if your property has been left unoccupied for a period of 30/45 (depending on the insurer) days or more.
If these potential situations look like things that you may want to get covered, it may be a good idea to start your search for a suitable insurance policy. Finding the cheapest landlord insurance may be tempting, but just remember that this is only worthwhile if the level of cover is suitable for your requirements.Read More
If you lead a busy life as a landlord, you may be inclined to ask yourself if you have the time to spare to get a let property insurance quote.
You may perhaps feel that the policy you have is adequate for your needs and it may well be. The point is though that unless you occasionally compare what you have with what is available by getting a let property insurance quote, you may be selling yourself short on the financial protection your current policy is providing for your assets.
You may see when you compare a landlords insurance quote that different policy providers may vary a fair bit in the way that they view risk when it comes to buy to let properties
You may find:
- some policies which may be able to offer discounts if you have a number of properties and wish take advantage of their property portfolio cover – this may typically apply for landlords with three or more properties but with some providers, you may qualify for this type of cover with only two;
- your livelihood may be badly hit if your property is damaged by an insured risk like a fire or flooding etc. and your tenants have to move out while you see to repairs - some policies may be able to offer you loss of rental income payments (up to a predefined maximum) to help reduce the financial impact;
- some buy to let landlords insurance may impose restrictions on the types of tenants that you can let your property to, by excluding cover to students or DSS recipients for example – there are policies around though which offer you the freedom to let to whomsoever you choose.
With most forms of home insurance cover, both buy to let and owner-occupier, you may find that there is a requirement to have additional cover in place if your property is standing empty for a prolonged period of time. The exact period may vary by provider and you may find it set at 30, 45 or even 90 days.
If you are in this position then you may benefit from asking for an unoccupied property quote to find the best unoccupied property insurance for you. You may wish to bear in mind that with unoccupied property cover, what is best for another landlord may not be best for you.
Buy to let insurance options may be changing constantly and some of these changes may be directly relevant to your situation. Without occasionally taking the time to review a let property insurance quote, you may never know if your cover is at its optimum level or whether it may make financial sense for you to rethink your situation.Read More