As a landlord, you will want to ensure that should your rental property, fixtures and fittings and possibly contents that you have invested a considerable amount of money in be damaged due to the likes of a fire or flood that you have suitable insurance in place. This will be in the form of a landlord insurance policy and there are many companies providing such valuable cover.
However, what would you do if a domestic emergency occurred at the rental property such as a problem with the plumbing or drains? What if the central heating boiler stopped working or the electricity supply ceased to work? The tenants may have lost their keys or there may be an issue with the drains becoming blocked. The toilet may cease to function and if that is the only one in the property it would need sorting out quickly.
Yes, of course, you could dig into your savings, use your credit card or overdraft facility to meet the cost of one or more of these emergency repair jobs but the amount involved could be significant. Another possibility is to add Landlord Emergency Cover to your landlord insurance policy as an optional extra as this additional cover should cover one or more of the above issues.
When you consider that these sort of emergencies could occur at any time of the day or night it surely makes sense to have peace of mind that you know you are covered 24/7 on every day of the year.
So, if you don’t have Landlord Emergency Cover, why not make a few enquiries about it and get a number of quotes to compare the cost and benefits. Such cover could end up saving you a considerable amount of money. Far better to be safe than sorry.
We hope that you have found the above informative.