Sainsbury's insurance warning for rented property
www.moneynews.co.uk > Insurance > Sainsbury's insurance warning for rented property
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Money News |
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Sainsbury's insurance warning for rented property
Thu 14th Feb 2008
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Steve Johnson, head of insurance at Sainsbury's Finance, explained that there has been a "phenomenal" rise in the value of properties owned by buy-to-let investors.
Research from the insurer reveals that these homes are currently worth £641 billion, up from £571 billion one year ago.
He advised landlords to reassess "every couple of years" how much their investments are worth, to avoid being underinsured.
"When people take policies and they have a sum insured restricted to that policy, what they have to do every couple of years is assess whether or not that has increased," he commented.
Mr Johnson added that landlords should "shop around" to find the policy that best suits them.
Approximately 2.76 million properties are owned by landlords in Britain, according to Sainsbury's.
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Related News : Sainsbury |
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