Landlords issued with insurance warning

Posted: 19 Oct 2009 11:52:16 GMT

A buy to let expert has issued a warning to landlords about home insurance.

Michael Portman, the managing director at Let Insurance Services, said landlords should be aware that if they do not mention past convictions of tenants then their home insurance could be invalidated.

He added that it was "imperative" that strict referencing was done to spot potential problems in the information supplied by the tenant.

Mr Portman remarked that most insurers would accept a claim even if tenants had lied as long as the landlords could prove they had followed a "formal process of referencing".

"Most rent and legal insurance policies will restrict cover for any claims where there is a problem or omission that the landlord or agent ought reasonably to have known," he remarked.

This comes after Sainsbury's Home Insurance revealed that the number of home insurance claims had fallen this year compared to 2008.

Water leaks were the most common reason for claiming home insurance followed by accidental damage and theft.


© Houseladder Ltd