Last week we spoke about rent guarantee being an important part of a landlord's insurance repertoire but another one that is possibly just as important is landlords legal expenses insurance.
This type of cover protects a landlord from any legal disputes that arise from being the property owner. This could be something like a dispute with a neighbour over land boundaries or maybe a situation with the tenant that the property is let to.
The cover provides costs for legal advisers in such incidents to protect the landlord from unforeseen circumstances that result in civil proceedings. A typical policy covers up to £10,000 of costs. Without such cover, a landlord would have to pay for any legal costs out of their own pocket. Legal protection is therefore a type of policy not to be overlooked by any landlord.
It is quite common for landlord's legal expenses insurance to be purchased together with rent guarantee cover even though they are very different types of cover. As this is not the sort of policy that is claimed on often, the premium tends to be quite cheap compared to other types of policies that landlords take out.
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