Storm damage, burst pipes and damage from break-ins top reasons for buy to let insurance claims
Research by Simple Landlords Insurance, shows that most common insurance claims are – for storm damage – cost an average of £1,500 to repair. Followed by damage to ceilings, walls and carpets caused by burst pipe with an average £4,500 repair bill, and the third most common reason for making a claim was property damage caused by burglars with an average claim of £2,300. The firm’s spokesman Andrew Watson commented that “saving money will become even more important for landlords in coming years as tax increases announced by the Chancellor are phased in, which for many investors could make the difference between profit and loss”.
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