Buy-to-let insurance risk warning

With buy-to-let investments becoming an increasingly attractive proposition for consumers, Sainsbury’s Bank is encouraging landlords to ensure they are adequately covered.

With figures from the Council of Mortgage Lenders showing that the number of buy-to-let mortgages has increased to 21 per cent, there are also now believed to be more than three million privately rented properties in the UK.

With the properties being worth a collective £510 billion, landlords are being advised in the strongest terms to ensure that they take out a comprehensive insurance policy.

Sainsbury’s Bank policies ensure against rental income of up to £20,000, while also providing contents cover of up to £40,000.

“Robert O’May, home insurance manager at Sainsbury’s Bank, said: “There has been huge growth in the number of properties rented out and it’s a lucrative venture for many.

“It’s therefore important for landlords to pick a good home insurance policy to protect their investments,” he added.

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Burns night warning

Scots have been warned to be careful as they celebrate Burns Night.

Zurich Insurance says that a large number of claims are made following the celebrations, as partygoers become slightly over zealous and cause damage to their homes.

According to the firm, 32 per cent of Scottish parents who celebrate the night suffer domestic damage.

With the annual claim reaching more than £100, Zurich says that it is vital people take out adequate insurance to cover any mishaps.

“If people are planning to celebrate Burns Night with a party at home, it’s worth taking a few minutes to check their insurance policies – possibly even considering extending the protection for their contents to include accidental damage,” said Martin Hall from Zurich.

The firm says that stained carpets and damaged furniture are the most common casualties of such parties and it believes that people should be free to celebrate without the concern of having to pay for any damage.

“By making sure they have the right policy in place, they can let their hair down, and have a worry free Burns Night,” added Mr Hall.

Burns Night is a celebration of the poet Robert Burns, the man who wrote Auld Lang Syne.

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