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IMPROVED INSURANCE SCHEME

Hundreds of our professional landlords have already used Property Hawk’s unique gateway to finding the landlord insurance that suits their type of buy-to-let property or size of residential investment portfolio.

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Landlords may be interested to learn that buy-to-let insurance brokers Alan Boswell, one of Property Hawk’s key insurance partners has just moved all future cover for landlords to Norwich Union Insurance meaning that their policy is now underwritten by one of the UK’s largest insurance companies.

Avoid the Tenancy Deposit Scheme
This change is principally to facilitate landlords being able to use the option for the alternative deposit solution scheme operated by Norwich Union, which avoids landlords having to use the tenancy deposit scheme.

There are also some other advantages in the change of insurer including the ability of landlords to insure 100% commercial properties, and a simpler rating structure with only two possible rates (normal risk and higher risk) applying throughout the UK as opposed to three previously. This means that landlords can insure their buy-to-let properties from a rate of £1.58 (inc’ tax) per £1,000 covered for residential buildings cover.

Importance of the Correct Insurance
Like any businessman, one of the critical things for any landlord is to be properly insured. Failure to do this on any level could prove to be a very costly mistake. As a landlord you are running a property business. As such your main asset is your buy-to-let investment. It is vital therefore that you safeguard the value of your property investment should disaster ever strike.

Do I need specialist insurance?
Because of the nature of buy-to-let property, it is imperative that a landlord has specialist landlord insurance. This is because household policies offer no cover for buildings, contents and landlord’s (property owner’s) third party liabilities whilst the property is being let out.

For more information read-

Five Things a Landlord Needs to Look Out For When Buying Insurance

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