Buy to let insurance is exclusively meant for landlords who have rented their properties on short term agreements and is a must for Landlords.
The importance of a buy to let insurance can be explained with this example. When letting a property there may be times when the property is not let, and if the property is damaged during this time, standard residential insurance would not cover the landlord for the damage incurred. This is a common mistake made by landlords and can be averted with the right insurance.
In order to ensure that the right policy is bought acquired have a detailed conversation with companies who offer buy to let insurance. A quality insurance company will always guide its clients onto the right track. Contacting a letting agency can also help with this process.
Buy to let insurance allows the property to stay covered though it remains unoccupied for a longer span of time. A buy to let insurance policy provides liability cover for landlord. It is the duty of the landlord to look after his tenants who are residing in a safe property. So, if any accident occurs and the tenants claim damage then the buy to let insurance can cover those claims.
When taking out buy to let insurance the insurance company will generally set guidelines for the landlord to follow. Some of them may include electrical safety and availability of annual gas inspections or standard check up done by a letting agents or an independent surveyor of this field.
The author is a tax consultant and insurance agent. For more information on buy to let insurance she recommends you to visit http://www.leaders.co.uk/ |
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