16 Jul

Landlords with properties to rent 'should take out insurance'

Landlords with properties to rent 'should take out insurance'

Landlords have been encouraged to take out insurance to protect their properties to rent.

Moneysupermarket.com has warned homeowners to take out specific landlords insurance to protect against damage caused by tenants.

It stated that standard home insurance often becomes invalid when people decide to rent out their properties and earn an income.

Head of home insurance at moneysupermarket.com Julie Owens said: "It is essential to have sufficient insurance to cover any financial losses connected with letting out a property."

She advised landlords to "seek advice and get all of the relevant information before taking this venture on".

Insurance can help landlords cover themselves from the loss of rent, legal expenses or problems with their tenants including debt recovery.

Ms Owens added that "it is always better to be prepared".

This comes after Chris Horne, editor at Property Hawk, suggested that there is likely to be a surge in the number of tenants renting properties this year.ADNFCR-1222-ID-19894459-ADNFCR

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