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Protect yourself against lost rent


For landlords, there is nothing worse than having a property that is unfit to live in, as you can't earn any money from your asset. However, to protect yourself in these circumstances, take out loss of rent cover from Landlord Insurance.

Lots of buy to let owners rely on their rental income in order to pay off the mortgage on their properties and earn a living. This is even more important for professional landlords with a large portfolio and no other source of income. Therefore, if one or more of their residences are unfit to live in, this means they are making a loss - particularly if they still owe on the mortgage they took out to purchase the asset.

This is why taking out loss of rent cover could be very helpful for them, as should something happen that means tenants aren't able to live in their property, they will be able to recoup the lost rent from their insurance provider.

We offer this form of protection at Landlord Insurance, along with a number of other policies, all designed to help protect your assets.


Loss of rent cover - what is included

Loss of rent cover does what it says; it protects you if your property becomes uninhabitable and therefore cannot be let out to tenants. There are many reasons why you might suddenly not be able to rent out your property. Here are just a few:

·         Natural disasters - There might be floods, lightning or minor earthquakes that cause serious damage to your property and means no one is able to safely live in it and your tenants have to move out while you carry out repairs.

·         Bad tenants - Should you be unfortunate enough to have bad tenants, you might find that they do not look after your property. Some residents treat buy to let homes very poorly, destroying fixtures and fittings and causing stains and breakages. Therefore, you might be forced to spend some time redecorating the property and making sure it is of a high standard again, which will mean tenants cannot live in it in the interim. Some insurance providers could cover any period of time when you are losing out on rental income as a result of these circumstances.

·         Unfortunate circumstances - There are occasions that no-one can control, for example, if you suffer a burglary or a fire that causes serious damage to your property. In these instances, having loss of rent cover will mean you don't have to worry that you can't let out your residence or that you have to sacrifice rental income from current tenants as they need to move out. Your insurance provider will make sure you are protected against this loss of money for the time it takes to make repairs to the property so it is safe to live in again and secured against any other dangers.

Take out loss of rent cover with Landlord Insurance

You will be able to take out loss of rent cover by looking at the insurance policies offered by Landlord Insurance. We have excellent relationships with banks, lenders, building societies and private equity firms, which means we can locate the best insurance for you, at competitive rates.

We are part of Landlord Mortgages, which has years of experience working closely with landlords. The award-winning company has helped a number of buy to let homeowners in the past to ensure they find the financial products they need.

If you're interested in signing up to loss of rent cover or discussing this or any of our other insurance policies with one of our friendly members of staff, you'll be able to reach us at our UK office. Call 0800 917 3324 and you can talk your options through with us.

Alternatively, you can contact us on our website and we will get back to you with an answer to your enquiry as soon as possible.

 

 
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