One of the risks that landlords face is damage caused by tenants or their visitors. Damage may be caused accidentally or intentionally but whether the damage is criminal or not, it will still need repairing and could cause a loss of rental income as well as repair costs.
Counting the cost of Property Damage
Damage to property can amount to thousands or tens of thousands of pounds, especially if the damage is structural. Such damage can, of course, be caused by natural disasters as well as fire or floods but tenants may also be responsible for damage to your properties. Whatever causes the damage, it will usually need to be repaired which can cost substantial amounts of money.
Damage can cost you in other ways too. If the damage is accidental or not the fault of the tenant but leaves the property unlivable it will be your responsibility to have the property fixed while providing somewhere for the tenants to live in the meantime. This could result in you even having to pay for hotel accommodation while repairs are made to the home.
Contact The Insurance Octopus to discuss your UK landlord insurance quote. We can tailor a quote to meet your needs that will protect you against many factors including tenant damage.