Some things don’t fall under the landlord’s home emergency cover. Such as:
- If you have a boiler older than 15 years, it may not be covered.
- Any damage that happens within 48 hours of taking out a policy is usually not covered. Policies take at least 14 days to become active.
- The claims which arise because of neglect or lack of maintenance are not covered.
- Some plans only cover the cost of fixing the emergency instead of fixing the damage. For instance, if it is a water leak, the home emergency policy will stop the leak but it will not fix the water damage caused by the leak.
- The landlord home emergency plan does not cover any events which are not emergencies. If the situation is not causing damage to the property or causing discomfort to your tenants, it is not an emergency and hence it may not be covered.
- General maintenance like power flushing is not covered.
Benefits of Landlord Home Emergency Cover
You will enjoy the following benefits with a landlord home emergency cover:
All-in-one cover: Landlord home emergency cover is an all-in-one policy that covers leaks, burst pipes, failure of the boiler, central heating, water supply and pest infestations and more. Whenever an unexpected situation emerges, your tenants will have access to someone who can fix the problem right away.
Quality-approved engineers: It is hard to find a qualified engineer who can attend your property in an event of an emergency. However, if you have the landlord home emergency cover, approved engineers who know what they are doing. With their experience, they will fix the problem in less time.
A direct link between tenant and provider: If you trust your tenants, the policy can create a direct link between the tenant and provider. You won’t have to worry about taking calls at 3 A.M for a complaint about a broken boiler. As per the nature of the emergency, a certified engineer or tradesmen will come to perform emergency repairs.
Peace of mind: The best thing about landlord home emergency cover is that you get of peace of mind. Being a landlord is a huge responsibility. Without a cover, you could end up spending hundreds of pounds on repairs each year. On the other hand, if you have a landlord home emergency cover, you won’t have to spend money out of pocket.
Check-List before Choosing Landlord Home Emergency Cover
No landlord wants to take calls from their tenant in the middle of the night and hear about a breakdown or damage. If you don’t want to be the one to be involved in sorting out emergencies, then landlord home emergency cover will save you from the trouble.
To choose the best cover, consider these:
Check the provider’s background: Check the quality and strength of the provider. You have to be certain that the company you have chosen can protect your property. Check their background by doing online research. Evaluate them by checking their star rating, reviews, and response time.
Learn about their cover plans: Ask the provider to show you any documents stating the details of the cover policies and restrictions. These restrictions could be anything – the age of the pipe system, or the material on the roof. Be sure you choose the right cover for your property.
Ask about the level of cover and excess: To get the most out of the cover, make sure it provides at least £500 of cover on each claim. The policy restrictions should be as limited as possible. A policy that has lower excess and a higher number of callouts are considered the best.
A policy with a higher level of cover and claims will naturally have a higher premium. Therefore, look for such that has realistic claims.
Check boiler and heating restrictions: Before you purchase the cover, check restrictions on the age of the boiler and type. Some providers only cover boilers if they are below a certain age. The same goes for the type of boiler.
Proper restrictions: Some landlord home emergency plans cover properties with a certain build or type. When it comes to finding a cover, the roof of the property may not be covered. If it is flat or thatched, you might not be eligible, to begin with as such properties present a higher risk of emergencies. Similarly, less common building materials are not covered by some providers. Therefore, always check the material of the property covered by the policy.
Check the price: Price is also a determining factor when it comes to choosing a landlord home emergency cover. You don’t want to overspend or underspend.
Take note of the excess you will have to pay per claim. Look at the level of coverage as well. A plan that offers quality coverage may cost slightly extra, but it will give you peace of mind.
Why Is It Required in Addition to Home Insurance?
Many landlords think they don’t need landlord home emergency cover because they already have home insurance.
Home insurance helps cover the cost of permanent failure or damage to your home. However, it cannot provide an immediate fix in the event of an emergency. If you have landlord emergency cover, it will help your tenants address the emergency so that the home remains habitable.
How to Claim?
When an emergency occurs, all you have to do is call the provider and claim. Depending on the circumstance and the scale of damage, your provider will send a certified tradesperson within the next 24 hours. Sometimes, they send a representative from the insurance company to access the damage formally before taking an action. This process does not take much time.
Once they are sure it is emergency damage, they will come in for a temporary repair. Although this policy is to keep the tenants safe that does not mean they can make as many claims as they want. To minimize the number of claims, it is important to carry out on-going maintenance on your property and service the systems properly.
A landlord home emergency cover can save you time and ensure the safety of your tenants. The best landlord home emergency cover is the one that includes all necessary repairs to the central heating, boiler, electricity, drainage, plumbing, roof, pest infestation, etc. Such plans have no limits on claims or hidden call-out charges. You get an approved engineer or tradesman in the case of an emergency.