Insurance News Archive
Don't scrimp and save on property insurance, urges Leaseguard
Landlords and property owners will be well aware of the need for commercial property insurance and a spokesperson for a risk management company has backed this up, saying that scrimping and saving can leave you worse off in the long run.
A spokesperson for Leaseguard has claimed that landlords, when investing in rent protection insurance and other cover, should consider the protection it offers rather than fretting about price.
Looking to the future is the key, says the company, and landlords could be left in trouble should they cut back on the amount of protection offered if they penny-pinch when insurance shopping.
The spokesman said: “They are looking to be covered for malicious damage by the tenant, liability cover and if the tenant causes any accidental damage. They want all of that in an all-inclusive policy so that the landlord is comfortable that their risks are covered."
Defaqto recently highlighted the ten key risks that amateur landlords need to protect their property against with the top risk being an unoccupancy period which is covered by 99 per cent of all buy-to-let insurance policies.
Posted by Michael Brown
24 Nov 2011
