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.
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