Insurance News Archive
Buy to let insurance advice offered by finance company
Landlords and owners looking to invest in property have been offered advice on all manner of commercial property insurance issues, courtesy of financial consultants Defaqto.
The company, having examined 87 different buy to let insurance products available on the market, claims that it is important for landlords to understand all features of their policy when compare property insurance quotes.
For instance, Defaqto found that policies can vary on the length of time a property can remain unoccupied. It also found malicious damage by tenants was covered as standard by less than half (47 per cent) of policies.
Defaqto’s insight analyst for general insurance, Mike Powell, said: "As ever, people need to focus first and foremost on the features and cover offered by policies when comparing options and not be driven by price."
Countrywide recently reported that in the third quarter of 2011, 23.5 per cent of its buy-to-let customers were new to the market.
Posted by Judith Stevenson
15 Nov 2011
