Landlords urged to check home insurance policies

Posted: 15 Jul 2010 11:35:50 GMT

New landlords have been advised to consider their insurance needs, as general policies do not tend to apply to those renting out their home.

According to moneysupermarket.com, many of those who are moving house are struggling to find buyers for their property.

Some opt to rent them out instead and the price comparison site noted earning an income from a home can invalidate insurance cover.

Buy-to-let landlords and others entering the sector were urged to take out appropriate policies that allow for financial losses that may arise from issues such as tenants failing to pay.

Head of home insurance at moneysupemarket.com Julie Owens commented: "I advise anyone contemplating becoming a landlord to seek advice and get all of the relevant information before taking this venture on."

A recent report by Upad indicated landlords believe their prospects are improving, with 60 per cent now more confident than they were in June.


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