Landlords insurance covers theft in the majority of policies
Do you consider crime rates in an area before deciding to purchase a property there?
Landlords insurance covers theft in the majority of policies although it would be responsible to check the level of cover provided by your selected landlord’s insurance policy.
Crime rates are taken into consideration by the many landlords’ insurance companies and it will have a direct bearing on the price you pay for the insurance. High crime, high premium, low crime and low premium. Your landlord’s insurance company will have calculated the local rating taking into account such factors as crime types in the area, frequency of such crimes, security measures in place etc.
As a landlord you can take a number of steps to ensure your property is protected as best as possible. The obvious one being 5 lever Mortice deadlocks, locks in all windows, maybe an alarm but there’s additional steps that protect your investment further still. Something as simple as visiting or arranging with your letting agent to visit the property once a month can ensure that proper care is being taken by the tenant and no undeclared damage has been made. Your landlord’s insurance policy may have minimum security requirements that must be adhered to. This is to protect you, as the landlord, as much as your landlord’s insurance company.
The issue of cannabis farms in rented properties is becoming more prevalent in today’s society and by visiting the property once a month you are drastically reducing the chances of your property becoming yet another statistic.