If you own property which you let out, then the chances are you’ll know how stressful it is to suddenly have to find an emergency plumber or electrician when your tenants need one.
Landlord cover can provide valuable peace of mind that you’ll have an expert on hand to help sort things out whatever the problem, whether it’s a plumbing or drainage emergency, or an electrical or boiler issue.
Many policies also cover security and roofing, so if, for example, there is a break in and the locks are damaged, a locksmith will come and secure the property.
If the policy you choose includes boiler cover, it may also come with an annual Gas Safety Inspection and an annual boiler service. This is often free in the first year, but there may be a charge in subsequent years.
Single point of contact
You’ll have one number to call, and once you’ve explained what’s wrong, an approved engineer will be sent to the property to make repairs.
There will usually be an excess to pay, typically £50, every time you make a claim. An engineer won’t be sent until the excess has been paid.
It is the landlord’s responsibility to pay this excess, not the tenant’s, but a payment from the tenant will be accepted so that the claim can proceed quickly.
Some polices allow you to choose a bigger excess in order to reduce monthly premiums. Remember, however, that the excess should be affordable, otherwise you may struggle to make a claim at all.
Check for any restrictions before taking out this kind of cover. Some plans only provide cover for houses and bungalows, but not flats and mobile homes, whereas other policies are designed specifically for landlords with flats.
There will normally be an exclusion period when you first take out the policy, during which you cannot make a claim. This is often 14 days, but can be 30 days in some instances.