The recent expansion in the buy-to-let market has created a whole new generation of landlords who are not necessarily so well-informed when it comes to taking out insurance. It’s tempting for landlords to skimp on their insurance policy and cut out the extras to try to save money.
Some insurers offer landlords legal cover as an optional add-on. However it can be expensive and it’s all too easy for a landlord to say no because of the extra expense. But tenancy disputes and other legal wrangles are amazingly common – so this could be a costly mistake. Adrian Flux Home can now offer legal cover completely free on a Landlord Insurance package – to cut the cost of this type of insurance.
“We have negotiated free legal cover on this policy because we were concerned that too many landlords were leaving themselves open for huge bills if they became involved in a legal dispute,” says Julie Carter of Adrian Flux Home.
Adrian Flux Home is one of the leading specialist home insurance brokers in the UK and offers a full range of insurance cover to landlords from student lets right through to a portfolio of high spec properties.
Flux’s legal cover gives landlords protection for any legal costs and expenses arising in connection with the ownership or leasing of residential property, up to a limit of £50,000.
The cover includes legal expenses for property protection, should a landlord need to take civil action to recover costs resulting from damage to property, provided the claim value is over £1,000. The legal defence section includes cover for prosecution under health and safety or data protection legislation. Contract disputes and debt recovery are included, as are costs for ‘full’ or ‘aspect’ enquiries by the Inland Revenue.
Additional options include repossession cover, for costs such as the eviction of squatters and recovery of rent owed by tenants, and tenant default, which is indemnity for any rent owed by a tenant up to vacant possession.
The Flux Landlord scheme also provides cover for loss of rent and the cost of alternative accommodation, both for the landlord and tenants, if the property cannot be lived in. It even provides for cats and dogs to be temporarily housed in kennels or catteries.
Because rented homes are, by their nature, a non-standard insurance risk all Flux’s policies are designed especially for each landlord’s individual needs. Every landlord quote from Flux receives the attention of their experienced underwriters who have specialist training in this field.
Adrian Flux aims to offer cheaper home insurance and has a range of policies for homes and contents, including specialist schemes for landlords and for hard to insure properties such as thatched homes, underpinned buildings and those at risk of flooding. For information call the Flux Household Insurance hotline on 08700 772266, email household@adrianflux.co.uk or visit the website, www.adrianflux.co.uk, and click on the relevant button under the ‘Home Insurance’ section.