Insurance News Archive
Landlords 'cannot be without buy to let insurance'
Posted by Michael Brown
Buy to let insurance is something that UK landlords "cannot afford to be without", according to an expert from the private rented sector, which may interest landlords considering buy to let insurance options.
The coalition government will today unveil its revised economic policy in an emergency Budget announcement, which could cause problems for buy to let insurance policyholders whose tenants may struggle amid economic uncertainty.
A major concern for landlords is the prospect of rising unemployment and its knock-on effect in terms of tenants' ability to keep up with rent payments.
Philip Suter, from jml Property Services, said: "If the effect of the Budget is going to cause higher unemployment, even in the short term, then property owners need to protect themselves."
He added that buy to let insurance is "one essential" that landlords "cannot afford" to miss and that rental guarantee insurance is now "vitally important".
Earlier this month, findings from independent research firm BDRC Continental found that 34 per cent of private landlords had experienced problems with rent arrears in the past 12 months, compared with 16 per cent in 2008.
22 Jun 2010
