The Importance of Landlord Insurance

THE IMPORTANCE OF LANDLORD INSURANCE Research conducted by AXA in 2014 has shown that landlords are not doing enough to protect themselves and their investment. Accidental landlords were found to be most at risk of renting to bad tenants and buying incorrect insurance policies. Be aware of bad tenants 1 in 4 tenants pay their rent late 18% 15% have kept pets without the landlord's permission have received complaints for excessive noise 8% 10% admit to committing a crime whilst on the landlord's premises say that they've had police call round to the property As accidental landlords didn't buy their property with the intention of renting it out, they may not always be aware of the risks or even the legalities of renting out their homes until it's too late. Protect yourself against bad tenants 38% of landlords don't carry out checks on their prospective tenants and only 5% actually conduct a criminal background check 1 in 3 landlords never visit the property for inspection 29% of landlords ask for previous landlord references 27% landlords ask for employer references Only 53%agreoment in place of landlords have a tenancy Make sure that you are fully covered! 1 in 4 residential landlords have inadequate or no insurance protection. Of those who bought the wrong insurance for the property, 43% were simply unaware of the existence of landlord cover Get your Landlord Insurance at SHBURNHA M INSURANCE SERVICES Sources: http://www.axa.co.uk/newsroom/media-releases/2013/one-in-four-residential-landlords-lack-proper-protection/ http://www.axa.co.uk/Newsroom/Media-Releases/2014/Tenants-behaving-badly--AXA-warns-landlords-they-are-not- doing-enough-to-protect-themselves/