Insurance News Archive

Buy to let property insurance holders win more deposit cases

Posted by Jonathan Walker

More buy to let property insurance holders are currently contesting tenant deposit payouts and winning their claims, compared to previous years.

Figures from tenancy deposit firm mydeposits.co.uk showed that while 99.4 per cent of private tenant's deposits are returned without problem – the remainder which are being contested are seeing landlords be more successful.

The data showed that in 51 per cent of disputed cases, buy to let property insurance holders are given part or all of the disputed amount, while 43 per cent see the disputed amount split with tenants.

Eddie Hooker, chief executive of mydeposits.co.uk, said: "The more equitable balance between tenant and landlord has come about because landlords have improved the quality of the evidence they are providing to substantiate claims."

In a recent guide for first-time buy to let property insurance holders, mydeposits.co.uk urged them to return the deposit promptly, after sorting out final bills.

24 Mar 2010