Marcus has been a great help in my house-buying process; he is very knowledgeable and has advised me well with both the mortgage application process and also dealing with solicitors and insurance. He has always been quick to respond both over email and phone. I would fully recommend his services to anyone in the property market!
Landlord insurance is a type of insurance policy that provides coverage for a rental property. Different policies may offer varying levels of coverage, but common features include protection for loss of rent, damage to property, and claims made against you if someone is injured or their property is damaged while on your rental property.
Finding the right protection for your investment
While landlord insurance is not legally required, it is highly recommended to ensure adequate protection of your property investment. A standard home insurance policy does not provide coverage for rental properties, so it’s important to have a dedicated landlord insurance policy.
Additionally, if you have a mortgage on the property, your lender may require you to have a valid landlord insurance policy before letting to tenants. Failing to comply with this requirement could lead to breaking the terms of your mortgage.
Landlord insurance provides peace of mind that your rental property is protected even when it is vacant between lets or occupied by tenants. It can also cover malicious damage, loss of rent, landlord’s liabilities, and even offer optional rent guarantee or home emergency cover.
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Protecting you, your property, and your tenants
Malicious damage coverage protects against intentional damage to the building and/or its contents by tenants, such as windows being smashed or contents being stolen. Loss of rent coverage allows you to claim if the property becomes uninhabitable after damage from a fire or flood, and your tenants have to move out during repair work, resulting in lost rental income.
Landlord’s liabilities coverage protects you against legal claims from tenants or others for injuries or property damage caused by your property or negligence. If a tenant is injured due to faulty wiring, for example, they could sue for damages.
Optional rent guarantee coverage can help cover unpaid rent up to a certain amount, and over an agreed period, where a tenant is unable to pay. This can help to ensure that you can continue to pay your mortgage even if rental income is disrupted.
Finally, home emergency cover protects you and your tenants during unexpected emergencies such as boiler breakdowns or plumbing and heating system problems. This type of cover gives you access to a 24-hour helpline so you can arrange for emergency repairs to be carried out by qualified tradespeople.
At Wiser Mortgage Advice, we can help you compare landlord insurance policies to find the one that suits your unique circumstances. Contact us today to discuss your options and ensure that your rental property is properly protected.
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I find the entire mortgage process confusing and long winded. Dean explains and handles things in a very simplistic way, meaning that the hard work is done for me. He is personable and always available no matter how many times I need to contact him to ask annoying questions!
I have used Dean’s Services for several years now, and I am looking forward to working with him again in the future.
This is my first time applying for a mortgage and Clarke has been extremely helpful in every step of the process. He is always responsive, incredibly patient, and very clear in explaining the process. I would definitely recommend and would definitely work with Clarke again for my next mortgage!
Marcus has been unbelievably helpful and reliable in advising me with my mortgage. He has been able to find me the best deals for nearly two years now and I would not go with anyone but him!
Kayleigh was very supportive and helped us find the best deal in the market! would highly recommend.
Would highly recommend Dean as a mortgage advisor. Explained everything really well, made sure we were happy with our choice and sorted out our insurances as well. The whole process and application was straightforward and easy with his help.
Clarke has been fantastic at helping me secure my first mortgage. I may have required some slight hand-holding but she was more than happy to walk me through the application and for this I must thank-you for all of your time and efforts Clarke, I will be highly recommending your services!
Dean sorted out our mortgage, home and life insurance for us and couldn’t fault him. Quick to respond and worked around us. Found us the best deals and rates. Took the stress of us and arranged everything for us and also was there anytime to contact sorb any questions. Lovely guy and made us laugh and had some banter. Will 100% recommend and will be using Dean again in the future for all our other re mortgages to come and any questions. Also must add very affordable. Thanks so much!