Aviva Landlords Insurance
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Aviva landlords insurance
The insurance company Aviva appears to make cover for landlords a particular strength in a business that has made it the largest in the UK and the sixth biggest insurance company in the world.
When specialist cover is required
Quite simply, the specialist cover of landlord’s insurance is needed whenever you become the landlord of property that is let out to tenants.
It is a specialised insurance product since it is designed to protect your investment in the building or buildings you are letting, together with any contents you may own inside them, and a variable range of additional risks which might threaten to disrupt or adversely affect the principal reason for owning the property – namely, generating a business income from the receipt of rents.
If you are in that position where such specialist cover if required, r if you are thinking of investing in buy to let property, you might want to examine the landlord insurance products offered by Aviva by using our free quote and buy service.
What does this specialist insurance cover?
Buy to let property comes in all shapes, sizes and types of tenant – the specialist insurance required to safeguard any particular property, therefore, is commonly tailored to suit the circumstances.
Nevertheless, it is possible to identify the principal components of the typical landlord’s policy as:
- buildings insurance to protect the structure and fabric of the let property against potentially serious loss or damage from fire, impacts, escape of water, flooding, storm damage or vandalism;
- contents insurance covers only those items owned by the landlord, of course, since tenants are responsible for insuring their own property;
- provision for compensation of lost rental income, or alternative accommodation, in the event that the let property cannot be occupied for a while, following a major insured incident; and
- landlord’s liability indemnity – sometimes called either public liability or property owner’s liability – as a safeguard against claims made by tenants, their visitors or members of the public who allege your responsibility for personal injuries they have suffered or their property that has been damaged.
Why choose an Aviva landlord insurance policy?
As already mentioned, Aviva appears to have made the provision of insurance cover for landlords a particular strength. This is reflected in a whole suite of policies called, appropriately enough, Landlord, together with other packages for residential property owners.
Policies may be tailored to suit individual landlords’ needs through the addition of optional policy extras. Principal standard features of Aviva’s policies for landlords may offer greater protection than those from some other insurers and include:
- a public liability (property owner’s liability) indemnity limit of up to £5 million;
- building insurance to include up to £25,000 compensation for damage to landscaped gardens;
- compensation of up to £5,000 following the loss of metered utilities;
- loss of rent or alternative accommodation up to 20% of the total building sum insured – a limit which may be optionally increased to either 25% or 30%; and
- options relating to terrorism cover, employer’s liability cover and legal expenses insurance as necessary.
Aviva’s landlord insurance, therefore, offers a comprehensive range of important elements of cover, including some which might prove more generous than the cover offered by other insurers.