As a property owner you are faced with many challenges when it comes to letting your property or properties. From finding the right tenants (or letting agency) to dealing with tenants queries and a multitude of other issues your time is often at a premium.
As one the UK's leading and most well established Insurance Brokers we have identified a real need for low cost and affordable Property Owners Insurance. And as a result of this we have secured facilities with some of the UK's leading insurers to provide:
Whether you have residential or commercial properties or a mix of both we will search to find you the right policy. For all your property owners insurance and landlord insurance needs.
And with a team of insurance experts who aim to save you time and save you money request a Property Owners Insurance Quote using the field above or call us during office hours on 0191 482 1219 to see how much you can save.
Property Owners Insurance Cover Available
Property Owners Liability
Employers Liability
Property Owners Building Insurance
Loss of rent
Property Owners Contents Insurance
Legal Expenses cover
Tenant's Insurance
Properties under contraction
Professional indemnity
Holiday lets
Student lets
Unoccupied properties
Council lets
Housing association lets
Buy to let insurance
Asylum seekers
Property Owners House Insurance
Property Owners Home Insurance
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If you you're a Property Owners and you are looking for affordable insurance for your properties then contact us now and see how much you can save.
Property Owners Insurance FAQ
Can I make a claim for losses resulting from tenants not paying their rent or causing damage to the property?
Most Property Owners insurance policies offer protection against loss of rent as an optional extra. This usually covers:
Can I make a claim for lost rent if my property is so badly damaged that it cannot be lived in?
Many Property Owners insurance policies offer Loss of Rent as optional cover. Cover is provided in the event that your property is so badly damaged (by an insured event) that it cannot be lived in, or access to the property is denied. In this event the policy will cover the rent that you would normally receive from the property for up to a specific length of time or up to the total sum insured, or until such time as someone can live in the building.
What can I do to protect my property?
Insurance is available so that in the event of a loss (by an insured event) you will be protected and covered. In order to reduce the chances of a loss you can however take certain steps to help. These include:
Make your property more secure by installing deadlocks on doors and locks on the windows.
Install an alarm system. Many insurers will offer a lower premium because you have lowered the risk of loss through theft. For certain postal areas a minimum level of security will be required.
Remove potential fire hazards from around the outside of the house as well as inside - particularly around the kitchen.
Make sure you have working smoke detectors and a suitable fire extinguisher. Put the extinguisher somewhere handy and make sure members of your household know how to use it.
What should I insure my contents for?
As a Property Owner, it's quite possible that the property that you are letting contains contents that you own. It is important to note these contents and ensure that you have provided adequate cover for them in your insurance policy. It might be worth doing a room by room inventory and working exactly what level of cover you require. Again though if you are in any doubt, just ask.
When is a Property Owner liable for an injury to a tenant or visitor to the rental property?
To be held responsible for an injury on the premises, the Property Owners or property manager must have been negligent in maintaining the property, and that negligence must have caused the injury. All of the following must be proven for a Property Owners to be held liable:
It was the Property Owners responsibility to maintain the portion of premises that caused the accident.
The Property Owners failed to take reasonable steps to avert the accident.
Fixing the problem (or at least giving adequate warnings) would not have been unreasonably expensive or difficult.
A serious injury was the probable consequence of not fixing the problem (the accident was foreseeable).
The Property Owners failure (their negligence) caused the tenant's accident.
The tenant was genuinely hurt. For example, if a tenant falls and breaks his ankle on a broken front door step, the Property Owners will be liable if the tenant can show all of the following:
1. It was the Property Owners responsibility to maintain the steps (this would usually be the case, because the steps are part of the common area, which is the Property Owners responsibility).
2. The Property Owner failed to take reasonable measures to maintain the steps (for days or weeks, not if it had only been broken for minutes).
3. A repair would have been easy or inexpensive (fixing a broken step is a minor job).
4. The probable result of a broken step is a serious injury, and it was foreseeable (falling on a broken step is highly likely).
5. The broken step caused the injury (the tenant must be able to prove that he fell on the step and that the step is where he broke his ankle).
A tenant can file a personal injury lawsuit or claim against the Property Owners insurance company for medical bills, lost earnings, pain and other physical suffering, permanent physical disability and disfigurement, and emotional distress. A tenant can also sue for damage to personal property, such as a stereo or car, that results from faulty maintenance or unsafe conditions.
How can Property Owners minimize financial losses related to repairs and maintenance?
You can avoid many problems by maintaining the property in excellent condition. Here's how:
Use a written checklist to inspect the premises and fix any problems before new tenants move in.
Encourage tenants to immediately report safety or security problems such as plumbing, heating, broken doors or steps - whether in the tenant's unit or in common areas such as hallways and garages.
Keep a written log of all tenant complaints and repair requests with details as to how and when problems were fixed.
Handle urgent repairs as soon as possible -- take care of any safety issues within 24 hours. Keep tenants informed as to when and how the repairs will be made.
Twice a year, give tenants a checklist on which to report potential safety hazards or maintenance problems that might have been overlooked. Use the same checklist to personally inspect all rental units once a year.
Also, your commitment to repair and maintenance procedures should be clearly set out in the lease or rental agreement.
Property Owners Good Practice Guide
Before the tenancy
Ensure the property is in a good state of repair. Carry out repairs before the tenant moves in.
All gas appliances and pipe work must be checked annually by an Approved Code of Practice (ACOP) qualified and Council of Registered Gas Installers (CORGI) registered installer. A valid gas safety certificate must be given to the tenant at the start of the tenancy and after each 12 month check.
All electrical installations must be checked by a member of either the National Inspection Council for Electrical Installation Contractors (NICIEC) or the Electrical Contractors Association (ECA) every 5 years, or more often if specified on the electrical certificate.
A minimum of one battery operated smoke alarm on the ground floor hallway and one per landing must be provided. These must be fixed to the ceiling. It is important that the tenant is asked to test the alarm each week, and that the Property Owners changes the battery once a year. The alarm should be vacuumed and wiped annually to ensure dust is not blocking the sensor.
Please note: Providing smoke alarms may not be adequate or appropriate for houses let in multiple occupation. If in doubt please contact your Private Sector Housing Office.
Make sure your tenancy agreement allows you to enter the property to carry out maintenance and repairs, after giving the tenant reasonable notice.
Ensure there are enough amenities for the number of occupants that the property is intended to accomodate.
If the property is let furnished, you must make sure that furniture and furnishings comply with the Furniture and Furnishings (Fire Safety) (Amendment) Regulations 1988. A summary of these standards is available from the Trading Standards Office or the Department of Trade & Industry.
Show the tenant around the property before the start of the tenancy and provide and agree a written inventory for the property.
Provide the instructions for appliances in the property.
Provide a written tenancy agreement clearly stating:
If a bond or deposit is payable, and how it will be retained or returned at the end of the tenancy.
The rent payable, including method of payment and the date payment is due.
Whether charges for gas, electricity, water, telephone or council tax are included in the rent.
Any valuables or items that are cherished for sentimental reasons, (although we recommend that such items are removed before letting).
Give the tenant details of the appropriate person to contact in case of emergency. Include name, telephone number and convenient times to ring.
Where required, provide details for applications for benefits to the benefits office to avoid unnecessary delay in payment.
During the tenancy
Carry out repairs promptly.
Give reasonable notice if access is required to the property.
Act immediately on urgent repairs, particularly where the health and safety of the tenants may be at risk.
Ensure sufficient dustbins/refuse containers are provided, and that refuse is collected and disposed of.
At the end of the tenancy
Serve the appropriate notice requiring possession, giving the appropriate period of notice and the grounds for possession (if required). Keep a copy, and if possible hand deliver the notice and get the tenant and person delivering it to initial and date it.
Inspect the property a week before the end of the tenancy, giving the tenant at least 2 days notice.
Check through the inventory with the tenant. A reasonable level of wear and tear should be allowed for.
Return deposits/bonds to the tenant within 14 days of the end of the tenancy, along with a statement of any deductions made, and why.
On the day of departure check readings of utility meters and notify the appropriate utility company.
Obtain forwarding details for the tenant to enable mail and the bond/deposit to be sent.
If appropriate notify Housing Benefit, giving the date that the tenant departs.
For all your Landlord Insurance and Property Owners Insurance needs contact us now on 0191 482 1219 or by requesting a Property Owners Insurance quote above using the field above
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