Insurance News Archive
Buy to let insurance customers 'could receive repair bills'
Buy to let insurance customers may be at risk of receiving unforeseen repair bills, one specialist has noted.
William Davies, managing director of Aspect Maintenance, said that some letters may be at risk of large bills if they fail to undertake sufficient inspections of properties to ensure there are no aspects in need of repair.
"Failing to undertake necessary maintenance work will result in repairs or replacements having to be undertaken," he explained.
One example given by Mr Davies was that a higher number of boilers are likely to malfunction now that the cold snap has started.
He recommended that now is the "perfect time" to start undertaking property maintenance to ensure that buy to let insurance customers are not left with a large bill.
Mr Davies' comments came after the Office for National Statistics revealed that commercial property insurance customers are spending 22 per cent less on maintenance than they were in the fourth quarter of 2007.
By Jonathan Walker
28 Oct 2009
