10:36 AM, 2nd April 2014, About 10 years ago 29
How many landlords have the time or the inclination to read their building insurance policies from start to finish?
The special clause that has recently appeared in two of my policies is the requirement to have the property electrics checked & certified every three years. This is not a legal requirement, but if missed a landlord could inadvertently find they’re not covered if they come to make a claim.
In the last few years the level of cover being offered has been considerably eroded, especially when the property is empty. Also more & more onerous requirements are being put on landlords to comply with the insurance company’s restrictions.
The temperature that my insurance provider requires the heating to be kept on 24/7 in an empty property has crept up from 13 degrees to 15 degrees. In this day and age this waste of energy is ridiculous. As long as the heating is keeping the property warmed to above freezing surely this should be sufficient?
I would be interested in getting other landlords comments on this, especially as to whether claims are being refused more regularly.