Insurers have warned Landlords to check they aren't under insured after a recent incident saw a Landlord having to account for £100,000 due to his insurance falling short of the £400,000 needed to repair his fire damaged property.
This warning is particularly aimed at Landlords who have policies taken out some time ago which have just been routinely renewed over the last few years. Insurers say it is imperative such individuals check that their cover is still valid, in line with current conditions and that policies are sufficient to cover the full value of rebuilding their property.
Eddie Hooker, CEO of Total Landlord Insurance, has said "In the current financial climate, it is more crucial to look at the levels of cover rather than the bottom line premium."
This is not legal advice; it is intended to provide information of general interest about current legal issues.