We are living in the UK in uncertain times – economic matters aside, what about the unseasonable weather? Life can be tough, especially as a property owner.
We have all seen horrendous pictures of natural disasters where homes have been destroyed due to weather conditions or even as a side effect of unseasonable weather. Often you think “that will never happen to me” as a landlord, but our climate is so changeable that taking a gamble on protecting your property is just not worth the worry.
This summer we have already seen a record rainfall in June compared to last year. If you are a landowner there is a lesson to be learned heren- to avoid unnecessary burden, property owners insurance will take a heavy weight off your mind.
Taking out property owners insurance is a positive step in providing you peace of mind at all times. Our summers are known for their washouts and flooding is a threat many homeowners face. Flash floods and heavy rain can often cause unexpected damage to homes and homeowners can sometimes lose everything when this happens.
We have seen these images on the news and often victims of natural disasters talk about the issue of not having insurance. Then they are faced with the prospect of having to rebuild their lives from scratch and taking out loans to repair the destruction.
It is estimated that flooding causes on average about £17,000 worth of damage per incident to buildings and contents. Your home is too valuable to risk, so taking out property owners insurance should be of high priority to any landowner.
Rain is not the only factor that poses a threat to our properties as winters seem to be getting harsher and snow and ice cause many a problem for landlords. Water damage resulting from melting ice and snow can also clog drains or leak into roofs, pipes can burst or roof tiling can often be damaged by unseasonable weather.
According to the Association of British Insurers, claims for unwelcome weather exceeded a staggering £1.4 billion. If you have the sense to buy property owners insurance, all these issues can be addressed and covered should the worst come to the worst.
Buildings and contents insurance is worth examining if you happen to live in a high-risk area, perhaps where robberies or adverse weather are commonplace. What is buildings and contents insurance you say? Well, it pretty much does what is says on the tin.
If your property is damaged, or robbed and your contents happen to be destroyed or gone, this type of insurance covers you so that you are insured if things go wrong. What’s even better is that your buildings and contents insurance policy (depending on the policy you choose) may even cover items that are lost or damaged outside of your property.