Skip to main content

Landlord Emergency Cover - What Is Covered?

As a landlord there are a remarkable number of unforeseen expenses which can creep up on you and unfortunately managing these expenses requires effort and planning. You can make your life easier however by obtaining effective specialist insurance, designed with the requirements of landlords in mind and by also obtaining landlord emergency cover.


The former provides overall protection for you property and also your contents, the latter however offers access to a dedicated emergency service, to help you respond quickly to disasters and minimise the disruption for your tenants. But what is covered?


Typically a landlord emergency cover policy will provide you with a response line which you can phone 24 hours a day, any day of the year. This response line will send out trades' people to the property to fix the problem or find a temporary solution. Your premium will normally pay for the call out charges, labour and parts, all to a predefined value. In most instances an excess will not be charged for making the claim and some policies may even provide alternative accommodation for tenants to a set value.


The types of circumstances you can call out for depend upon whether they have had such an effect on the property that it is no longer safe or secure for tenants. You will also be able to claim if the incident has resulted in a loss of essential services, which include water and drainage, electric and gas as well as heating. If an event has occurred which makes a property inhabitable, an emergency call-out may make it habitable quickly, reducing your expenditure or the need to make a claim on your main landlord insurance policy.


The types of emergencies covered could include:
• A breakdown of the main heating system is one of the more frequently covered items within landlord emergency cover as it is deemed an essential service for tenants.
• Repairs from break-ins, such as refitting windows or door locks.
• Plumbing and drainage problems, particularly if the property becomes separated from the main sewer or water main.
• If the domestic power supply is interrupted (beyond that of a general power cut) emergency cover can be provided.
• Repairing the sole toilet in the property, once gain this is an essential service which must be provided to the tenants.
• If a property becomes infested by vermin, call-outs to an exterminator are typically covered.
• Emergency landlord cover can often be used to call out locksmiths for lost keys or broken door locks.


The instances above are not exhaustive and do not highlight some of the more specific options that are covered with landlord emergency cover. It does however hope to point out that with effective cover it is possible to protect yourself against a wide range of issues and unforeseen circumstances.

Labels:

Comments

Post a Comment

Popular posts from this blog

How to Calculate PMI

PMI (private mortgage insurance) is one of the many products of insurance companies for mortgage lenders. It is designed to protect them from borrowers who will default in their payments. The law requires that when the down payment on a home is less than 20% of the value of the home, the borrower takes out a Private Mortgage Insurance. When you want to calculate your exact PMI balance, you will need your principal balance, the PMI rate, the recent home appraisal and the amortization schedule. The appraisal of your home will give you the current market value of your property. You will need to determine the loan to value ratio of your (LTV) first. For this, you will need the remaining balance you owe the mortgage lender. This value will be divided by the appraised value of your home and the percentage you get is your loan to value ratio. If the percentage of your LTV is more than 80%, you need to look at the corresponding rate according to your lender. There are different rates for di...
Post a Comment
Read more

Types of Insurance That You Should Never Spend a Dime On

In a Seinfeld episode where Jerry tries to make up a bit for his comic routine, he notes telling Elaine that the makers of antacids have quite a business. They get you take something even before you have any indigestion. It's a market that's interested in buying product to protect itself from a problem that doesn't even exist. Insurance isn't all that different. Most people pay life insurance their whole lives and find to their disappointment that an Acme safe didn't fall on their head while they were waiting for a bus, after all. They buy car insurance and never have the satisfaction of having it totaled in a car wreck. The point is, that there really are several types of insurance that aren't worth buying. Let's start with a couple of options for your car -rental car insurance, rental car damage insurance and collision insurance. When you take out insurance for your own car, your insurer will usually offer you rental car insurance. And this is one useless,...
Post a Comment
Read more

The Importance of Income Protection Insurance for Men

Those men that are weighing their options for income protection insurance might not be completely sold on the notion they really need it. They may assume they are in good health and that having to cover the extra costs for premiums would not be worth the time, effort, and investment. To make such an assumption is not a wise course of action to follow. The truth of the matter is men can get sick at work. If they become seriously sick they might discover they have the serious problem of no longer being able to earn an income. If this is the case then how could they cover their living expenses? They couldn't. So, why are so many men somewhat dismissive of income protection? Basically, they are not familiar with some of the reasons why men get sick at work. Once information on this is revealed, they will begin to take the concept of insurance coverage a lot more seriously. For those curious as to why men get sick at work, here is a brief overview of a few reasons why this is so. Exhaus...
Post a Comment
Read more