Although a UK landlord insurance policy insures against a wide-range of risks, there are a number of considerations worth noting that may affect a policy.
Examples of what may not be covered by your policy:
The buildings and/or landlords contents are not covered for things such as:
subsidence caused by river or coastal erosion
demolition repairs or alteration
defective workmanship or design.
The contents are not covered for certain types of damage when the property has been left unoccupied for more than 30 consecutive days.
The landlords and/or buildings contents are not covered in case of theft or attempted theft unless there was a violent/forcible entry or exit.
The landlords and/or buildings contents are protected against leakage of water or oil from any fixed water or heating installation, apparatus and pipes. However, generally there is no cover for the apparatus from which the water or oil leaked.
Canceling your policy early
With a number of insurers, if you are unhappy with your policy for any reason you have the right to cancel within 14 days of receiving your policy and get your full premium back, providing no claims have been made or are pending.
How long does my insurance policy run for?
Generally, cover starts on the date shown on your certificate and will continue for a period of 12 months. You should definitely periodically review and update your cover so it continues to meet your needs.
Some key definitions
Buildings
Used wholly or partially as private dwellings and including domestic outbuildings, garages, drives, patios, domestic fixed fuel oil tanks and terraces, walls, gates and fences, tennis courts, swimming pools and including fixtures and fittings owned by you or for which you are legally responsible.
Excess
The first amount of any claim for which you are responsible.
Uninsurable Risks
These can include wear and tear, depreciation, fungus, rot, vermin or insect damage, mechanical or electrical fault, process of cleaning, repairing, restoration, or renovating.
Landlords Contents
Household furnishings/goods, appliances and aerials for which you are responsible and contained within the buildings but excluding Valuables.
Valuables
May include precious metals, jewellery, watches, photographic equipment, stamps, medals, curios, money, furs, works of art and home computer equipment.
These are just a few considerations that may affect your landlord insurance policy so it is recommended that you thoroughly check policy documents before making any decisions.
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