According to research carried out by Verdict Financial, 1 in 3 of landlords in the UK are covering their rented property on a standard household insurance policy rather than a specialist landlords insurance.
This means that they could be leaving themselves exposed to certain cover that is provided as standard on a landlords insurance.
A landlords insurance will often cover theft and malicious damage by a tenant which will not be the case under a standard home insurance policy. Additionally, when a property is empty a specialist landlords insurance policy will usually have a period of time that cover is unaffected before you have to disclose it to the insurer. There are some terms that you need to comply with but essentially the policy is designed to cover void periods as this will always be the case at some point with a let property. This is not usually the case with a standard home insurance policy wording.
Although household policies are used to cover property that is let, the above examples demonstrate, it is not always the best policy to use. Landlords insurance may be a little more expensive but it is designed specifically for rented property and is usually the best option for your rented home.
So, if you are one of the 1 in 3 of landlords that don’t have a landlords policy then please give us a call for a quotation
http://www.bickersinsurance.co.uk/our-product/insurance-for-landlords