Our general insurance: Designed for YOU

10 Sep 2023

As a landlord, you know that your rental property is an investment. But what happens if something goes wrong? What if there is a fire, a flood, or a storm? What if your tenant damages the property?
That's where general insurance comes in. General insurance is a type of insurance that covers your rental property against a variety of risks. This includes damage to the property itself, as well as liability claims from tenants or visitors.
General insurance is not a legal requirement, but it is highly recommended. It will also be a condition of your mortgage without insurance, you could be left out of pocket if something goes wrong. You could also be sued for damages if someone is injured on your property.
There are a few different types of general insurance that landlords can choose from:
  • The most common type is buildings insurance, which covers the cost of repairing or rebuilding the property if it is damaged.
  • Another type of general insurance is contents insurance, which covers the cost of replacing your furniture, carpets, appliances, and other belongings if they are damaged.
The cost of general insurance varies depending on the size and value of your property, the risks associated with the postcode, as well as the level of cover you want. However, it is a much more effective way of protecting your investment and your finances, than relying on savings.
You may wish to consider general insurance. It is a small investment that could save you a lot of money in the long run, should the worst happen.
What are the benefits of having general insurance as a landlord:
  • Peace of mind: Knowing that your property is insured can give you peace of mind, knowing that you are protected in case of an unexpected event.
  • Financial protection: General insurance can help to protect you financially in the event of a claim. This could include the cost of repairs, legal fees, or even lost rent.
  • Liability protection: General insurance can also help to protect you from liability claims. This means that you would not be personally liable for any damages that are caused by your tenant or a visitor.
You don't have to figure this all out on your own, our in-house Insurance Advisor, Jack, is on hand to help review your policy and make sure you get the best renewal with a product designed for YOU. Send him an email today or give him a call on 01482 562 562 📞

Posted By

Jack Newton

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