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***New date: please note this conference was previously due to take place on 6 December 2011***
New landlord clients may be unprotected
Select & Protect is concerned that a number of new landlords entering the buy-to-let market are completely unaware that they will no longer be covered under their existing home insurance policy when a tenant begins living in the property.
Recent results from the Council of Mortgage Lenders (CML) have revealed that the rental market continues to grow with 13% more buy-to-let mortgages taken out in the second quarter of 2010 compared to Q1.
Paul Firkins, sales director, said: “Although landlords Insurance is not legally required in order to let out a property, it is highly recommended. Properties certainly aren’t cheap and letting them out often works as a long-term investment, so it makes sense to protect that investment with an adequate insurance policy.”
Firkins continued: “Having adequate cover really does offer that extra peace of mind for landlords. Not only for protection against standard perils but also because you know that you would look after your home but you can’t guarantee that your tenants will!”
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