For Ealing, Northfields, & Hanwell landlords, having the right insurance coverage is not just a box to tick. It’s an essential safeguard for your investments.

But simply having insurance is not enough; understanding the policy’s specific requirements and declaring everything accurately is crucial.

In the following cautionary tale, we’ll explore a real-life incident involving a landlord who learned this lesson the hard way.

The names and details have been changed, but the lessons remain valuable for all landlords.

The story

A diligent landlord, let’s call him Martin, was confident he had secured the right landlord’s policy with a reputable insurance company.

He was upfront and honest with them about renting out his property.

He leased his three-bedroom house to a tenant, let’s call her Sarah.

Martin believed Sarah was a working professional, but she was actually a stay-at-home mother of two, using independent means to pay the rent.

Which she did ­– on time, every time.

While Sarah was on an extended family overseas trip, a water pipe in Martin’s property burst.

This caused a considerable amount of damage.

Despite informing the insurance company about renting out the property, Martin was entangled in a complicated situation.

The investigation revealed that not all the details about the tenant were declared correctly. It was an honest mistake, but it highlights how important it is to correctly fill in any insurance-related forms.

The consequence? A clean-up bill of nearly £25,000 that Martin was liable to pay.

This incident is not merely a mishap; it’s a stark warning.

While the claim was unrelated to the undisclosed details, it significantly reduced the payout.

There’s no happy ending, but we can learn much from this tale.

Understanding your policy, knowing your tenants and having clear provisions in your tenancy agreement is not just paperwork – it’s protection.

Ensure you have the correct level of insurance for your rented properties in Ealing, Northfields, & Hanwell and that all details are transparently declared.

Don’t let a small oversight become a massive liability.

If you are in any doubt about your rental insurance whatsoever, speak with us.

Here at Leslie & Co., we can point you in the right direction about comprehensive rental insurance in Ealing, Northfields, & Hanwell and answer any questions you have. 


    
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