A perfectly formed landlord insurance bundle
With this in mind, it is important to investigate every avenue possible that could lead you to putting in place a blanket safeguard to shelter your possessions should any harm befall them.
There are a number of services out there that you would do well to secure, falling under the umbrella of landlord insurance. Within this area, there is a buffet of options. From your building to your contents and from legal expenses to rent guarantee, there is a wide diaspora of choices available, so get your thinking hat on before you get going.
Most buy-to-let insurance providers will cover you for standard risks associated with the housing market, such as fire and flood damage, as well as vehicle inflicted damage. Should any of these curses of bad luck strike, you know that you won’t be wounded by having to pay yourself but don’t make the mistake of thinking it won’t happen to you – an error that could be cataclysmic.
Landlord home insurance can also ensure that you don’t suffer financially should your fixtures and fittings be destroyed in the event of a disaster. Kitting out your investment can be costly and the last thing you need is then to have to fork out all over again, when just a few hundred pounds could negate that. It’s a natural sibling to the building protection element and even though it may come attached with an additional cost, it would be wrong to split the pair.
You should also try to collate into your landlord house insurance some sort of guarantee should your tenant default on their payment or associated problems. However, as with most policies, there will be a check by your insurer to see if you have mitigated your risks as much as possible. In this scenario, there would be a need to carry out rent referencing checks, endeavouring to do as much as is possible to satisfy yourself that you have a venerable tenant.
It goes without saying that you should really leave no proverbial stone unturned in your quest for policy perfection. By making sure that your property is safe and secure, that you have used the highest quality of tradesmen for works carried out and you have plundered all available statistics with regards to crime and theft, you’ll be able to find the gold at the end of the rainbow, Irish or otherwise: a perfectly formed landlord insurance bundle.