Are you on solid ground with your Landlord’s Insurance?

As with any substantial investment, it is important to ensure that you have an adequate level of insurance cover for your property portfolio, should the worst happen. There are a wide range of dangers which could result in financial loss.

Some of those risks are more apparent than others – damage by the elements as the result of flooding or a storm, a breakage or other accidental damage caused by a tenant or even the potentially severe results of a fire; these are all are dangers which must be taken into account and are generally covered on a standard landlord insurance policy.

But what of other, less obvious hazards which could have a potentially catastrophic impact on a landlord or property owner? The insurance experts at C&M explain some key areas of consideration, all of which can be covered on a specialist landlord policy arranged by the team.

Property Owner’s Liability
In an increasingly litigious society and with the rise of ‘no win no fee’ law suits, a broad range of potential hazards need to be taken in to account. Should a tenant injure themselves tripping over a loose tile or an employee be involved in an accident while carrying out maintenance on a property, they could sue for damages. With the potential for costly, drawn out cases, a policy arranged by C&M can help to negate the impact on an organisation or individual through appropriate insurance cover.

Loss of rent
While the immediate material damage caused by a flood or a fire is apparent, it’s also important to consider the other implications that could arise from your property being uninhabitable – potentially for an extended period of time. The loss of rent following such an occurrence can cause difficulties in the often finely balanced finances of a landlord or property owner – particularly if a large mortgage is in place. That’s why it’s important to ensure that, should rental income stop, your income is protected through the addition of a loss of rent cover to a landlord insurance policy.

Legal expenses
While the cost of a tenant or contractor pursuing legal action can be substantial, other concerns can arise from a wide range of legal issues which a landlord must consider. Whether it’s dealing with tenancy disputes, the complexities of squatter eviction or rent payment problems, there are a whole range of legal actions which need to be both taken into account and – with the addition of legal expenses cover – mitigated against.

It’s easy to see how the risks as a property owner or landlord can add up and that’s why at C&M Insurance, we work with all of our clients to understand their needs and the unique nature of their personal or business situation. We’ll then source cover designed to meet individual requirements and work to ensure that, should the worst happen, you are afforded the appropriate level of insurance protection.

Call 01708 764 000 or email today to discuss how C&M Insurance can work to ensure that your investment is protected from the risks private clients and commercial operations can face on a daily basis.