Here at Letinsure.co.uk we're more than happy to answer any questions or queries you may have. We've prepared some frequently asked questions and answers below to try and answer your question quickly, however if you don’t find what you're looking for please don't hesitate to email or call us.
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What do your policies cover?
Our policies offer comprehensive cover, designed specifically for Residential Landlords. All standard policies include:
- £2,000,000 Property owners liability
- Property damage cover
- 20% Loss of rent
- £25,000 Legal expenses
- Rent recovery
- Contents cover
- Glass cover
- Malicious damage
- Vandalism
- Trace & access
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What exactly does Loss of Rent mean?
Loss of rent can be claimed if, as the result of an insured peril (e.g. Fire, Lightening, Explosion, etc), you are unable to let your property. For residential properties, 12 months loss of rent is calculated as 20% of the building sum insured.
Commercial properties differ slightly and we may ask you to state the loss of rent amount for which you require cover.
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Will you cover me if my tenant stops paying the rent and we can’t remove them from the premises?
Our standard policies include upto £25,000 worth of legal fees which could be used to issue court proceedings to recover rent from a tenant if they fall into arrears and refuse to vacate the property. Rent recovery using this method is not guaranteed and may take several months. However, if you purchase Rent Guarantee with your policy, not only will you have upto £25,000 worth of legal fees, you will be able to claim unpaid rent on a monthly basis from your insurer. With prices starting from
£89.95? why take the risk?
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My property is currently unoccupied can you still insure it?
Yes. Unoccupied properties can sometimes be difficult to insure however here at Letinsure.co.uk we can insure you in two different ways.
If your property is unoccupied and is being advertised for a tenant, or you have a tenant moving in soon we can be flexible and offer 30 days cover based on ‘occupied’ terms
If the property is unoccupied for more than 30 days and you are not currently advertising for a tenant we will be able to provide a quote on ‘Unoccupied Terms’. These terms are slightly different to our Standard policies and only insure against damage caused by Fire, Lightning, Explosion and Aircraft.
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Can you insure my property even though it is let to students or DSS tenants?
We offer cover and can insure your premises if the tenants are working, retired, students or DSS claimants. If your tenant is a DSS claimant, it is a condition of cover that you have an agreement or contract with them directly and not a local housing authority.
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Am I covered for malicious damage?
Malicious damage cover is included as standard on all Letinsure.co.uk policies where the property is occupied. A claim limit of £5,000 applies.
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Why does a normal home insurance policy not cover my rented property?
Traditional home insurance policies may not be able to provide cover if the property is being let and used as a source of income.
In addition, a regular home insurance policy will not provide cover such as Property Owners Liability or Loss of Rent – both of which are included as standard on all Letinsure.co.uk policies.
To ensure you and your property are protected, it is highly recommended that you purchase a Landlord’s insurance policy specifically designed for these circumstances.
- How do I know how much to insure my building for?
You should insure your property based on its full rebuild value. You can get guidance on rebuilding costs at the Building Cost Information Service website, but you should seek professional advice if unsure of the correct figure.
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What do I need to do if I want to make a claim?
If you would like to make a claim please contact us as soon as possible. You can call our claims department on 0161 762 2597 and speak to one of our experienced claims handlers who will take the details of your claim and be able to assist you further.
