Landlord Boiler Cover Service

landlord insurance:

Have you ever read a full insurance policy booklet from cover to cover? You wouldn’t be alone if you said no, but you sure wouldn’t be in a majority if you said yes.

Insurance is a minefield of legalese, definitions and exclusions. Not understanding your way around these could see you paying for a policy that doesn’t adequately cover you, equalling even greater losses should an incident occur.

So, should you spend your spare time becoming an insurance expert? The easy answer is no. Just read this article for a simple no-nonsense guide to your insurance obligations as a landlord, and some expert tips to help you find the right cover.

What is Landlord Insurance?

This is a bit of a misnomer. There isn’t just one kind of insurance for landlords, there are actually quite a few. They can cover you for almost any property set up and almost any ‘peril’ (that’s insider insurance lingo meaning an event like a storm or a fire or a flood etc). While insurance companies will advertise that they sell landlord insurance, you’ll find that these are just different property insurances that are suitable for landlords. These types of policies can also come with additional coverages like loss of rent or landlord liability.

Insurance is worked out based on the risk of an insurable event happening. For instance, if your property is in an area with high crime it will be more expensive to insure against theft and malicious damage. The first step when buying insurance is to understand exactly what you want your insurance to cover and what you need it to cover from an obligatory standpoint.

Is Insurance Compulsory for Landlords?

While you may find some conflicting information online, there is no form of insurance that is compulsory for landlords… unless you have a mortgage. Mortgage lenders will often require you to have insurance before taking on tenants.

Comments

Post a Comment

Popular posts from this blog

Fix a water leak

Image
Step by step tips to fix water supply pipes, including burst or leaking pipes, frozen or noisy lines. A brief guide on how to locate the leaking pipes and underground water leak. Water leak s and broken pipes can be a significant issue for any homeowner. Since water runs with pressure in pipes (regularly around 50 pounds for each square inch), if a pipe or fitting got a leak, the water typically showers out with power. As a result of this pressure, it becomes evident if a pipe is leaking or the line is inside a divider or over a roof. You can frequently hear water leaking inside the wall or ceiling. The drywall gets wet, especially at the joints between boards. Furthermore, water will pool at the base. Leak Fix: When a pipe leaks, find and shut off the valve that controls the water. Afterward, proceed to the repair. Water Leaks: 8 Smart Tips to Stop Them Emergency water leaks and the water damage repairs or mold cleanup can be expensive. Avoid the inconvenience with some good habits an
Read more

How to unblock a toilet

Image
  Of the considerable number of horrible mishaps that can happen to us in our daily life is blocked toilets. It is a similar mix of awkwardness and outrage as looking down into a toilet that will not flush. As the water level in the toilet rises, we hesitate and wonder   how to unblock a toilet ?   We sulk and dare to dream that the issue will be one way or another resolve itself and we will be saved from the embarrassment (and wreck) of toilet blockage. What’s more, when you’re a visitor in another person’s home, you think hard and multiple times harder. If you’ve been in a restroom with a clogged toilet and no toilet plunger, you’ve likely asked yourself: will a toilet eventually unclog itself? A blocked toilet will normally unclog itself after some time. Most things that blocked toilets are water-solvent which implies they will in the end break up in the toilet water. When the toilet blockage happens the weight of a flush is sufficient to clear the pipes. This may sound basic, howev
Read more