Paymentshield launches improved insurance for landlords

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Paymentshield launches improved insurance for landlords

Mon 7th Jul 2008

Insurance by Paymentshield for landlords and their buildings and contents has been revamped to include new areas of cover and to widen the conditions for eligibility.

The new insurance, reported by Mortgage Introducer, covers accidental damage to locks or key theft, damage to gardens caused by emergency services, loss of metered water in the case of building damage, unauthorised use of utilities and the landlord's belongings in communal areas.

Students, Benefits Agency recipients and multiple occupancy of up to six tenants per property are also now eligible for cover.

Paymentshield insurance director Neil Galjaard said the company believed the buy-to-let marketplace would continue expanding.

Specialist insurance agencies providing cover solely for landlords and tenants are on the rise, website homemove.co.uk recently reported.

Despite fears of recession, estate agents are urging landlords and tenants to keep up their insurance, as maintaining a property could save money long-term.

Landlords are reportedly often unaware they need contents insurance for unfurnished properties to keep carpets and curtains covered.

Tenants may also believe their belongings are insured by the landlord's policy, which cannot be done under British law.

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