Landlord Insurance with Home Emergency Cover to Protect the Owner’s Property

Renting out properties in the United Kingdom comes with many benefits to the landlord, especially if it is in a good location, in a major city or town, is well-appointed, in good condition, and is available at a good rental. For this rent, the tenant expects good service, and ensuring that the appliances provided are in good working order. Besides this, the landlord is also responsible for providing uninterrupted power and water along with drainage, working appliances, fittings and furnishings in the property. This can be quite overwhelming, if something goes wrong, and finding someone to handle the repairs is not successful.

Covering Potential Problems
Keeping tenants happy is hard work, especially if there are unexpected problems with plumbing, electricity and/or water supply, drainage, heating system, roofing issues, etc. This requires immediate action, and it would be easier for the landlord to pass on this burden to a service provider that has the capability to handle all these issues. These potential problems can also be quite comprehensively covered by landlord insurance with home emergency cover, but selecting a reputable and well-established service provider is vital in a very competitive industry. Annual premiums for home emergency cover can range from £175 per year to £269 and more per year, with a limit of £1000 per claim.

Utilities Coverage
Basically, landlord insurance with home emergency cover helps to protect the owner’s property in question as well as any tenants renting the property against potential loss of utilities and/or other essential services. It also serves to insulate the landlord from day-to-day emergencies like unexpected heating, plumbing, blockages or drainage problems, security issues, pest control issues, lost keys, as well as domestic power or water problems. Some even provide the cost of emergency overnight accommodation in the event the property becomes uninhabitable due to service breakdown or security issues. Well-established and experienced insurance firms do not make any restriction on the number of claims made annually under the home emergency coverage.

Emergency Issues
In many cases, trying to get the best possible rent, the landlord may not have the opportunity to pick and choose whom the property is being leased to. They may have to deal with different types of tenants, which could range from professionals to students. The only provision is that they have the ability to pay the asking rent on time and keep the property in reasonably good condition. The landlord insurance with home emergency cover makes no distinction on who rents the property, but it covers the landlord against a list of unexpected disasters that could potentially occur in the property. They also cover properties that may be currently unoccupied, but could face any of the potential emergency issues suddenly.

Ensuring Home Repairs is win-win for Both Landlord and Tenant

With low interest rates, keeping your hard-earned money in Certificate of Deposits is an exercise that is going to keep you awake nights. Brexit has created uncertainty and the present interest rate structure is close to becoming negative. The real estate market is already posting lower prices and this is perhaps the best time to invest in rent bearing properties. The joy of being a landlord is however tinged with responsibility. You do not know what kind of tenant will stay in the premises that you want to rent. The repairs and taxes of the property will have to be borne in a timely manner as otherwise you will be liable for contravening local laws.
To get over this dilemma particularly if you are new to the idea of a landlord the best option is take opt for landlord home insurance cover. Several insurance entities are offering attractive options under the title of home emergency insurance cover, which includes coverage for

  • Emergency plumbing and drainage repairs
  • Primary heating system maintenance
  • Alternative accommodation during repairs
  • Repairs to cooker / oven
  • Repairs for water supply and gas connections
  • Pest infestation

Prominent Support is a well-known insurance provider that covers emergency home repair solutions by dealing directly with the tenant. With a 24-hour help desk Prominent Support are confident that their financial product is both a necessity and a profitable exercise. They have simplified registration requirements to the basic requirements that can be done online. Documents supporting your ownership as well as the tenant agreements can be uploaded online and the verification process is fast that in most cases takes just two business days. With options for payment of premium in quarterly schedules, the landlord can tailor cash flow accordingly. In fact, by balancing the rent and the insurance cover it becomes a win win situation for the tenant.