Many rental homes will experience frozen pipes, heating not working and several other seasonal issues within the winter period. It is important to understand which insurance covers you need, and what each policy covers you as a landlord.
So, here are our top 5 winter insurance tips for your rental property:
What do you need to be aware of when your tenants are away?
1. Frozen Pipes
You should insulate your pipes as well as the loft water storage tank. Place the insulation foam on top of pipes, as opposed to underneath them. You should also double-check whether your homeowners’ insurance covers you should anything happen. You can leave your heating on at the temperature of around 16 degrees or ask your plumber to drain the water system. What you need to consider before refurbing your rental property?
2. Have your boiler serviced
A common problem during the winter is that boiler parts fail. Make sure your boiler is serviced by a professional engineer registered with Gas Safe Register. Servicing your boiler will resolve your heating problems, but it can also improve landlord/tenant relationships. Perhaps you may want to take out a boiler cover. Current Buy to Let lending rules
3. Set the temperature
The average room temperature is between 18-21 Celsius. You can set the thermostat to a higher temperature during periods of severe cold though this should be done for a short time to keep your bill from increasing. Using a smart thermostat might be a good idea to help with energy efficiency, which will have a positive impact on your homeowners’ insurance. Use energy-efficient systems. Red Flags of tenant screening
Protect yourself during the winter
Once your driveway becomes icy, the risk of slipping and injuring yourself increases. Gritting your driveway can help reduce these risks. If you are responsible for maintaining the garden, ensure your tenants have the tools to do this themselves and encourage them to keep walkways well-lit and free of leaves and moss. You should have landlords liability insurance, which is a form of public liability insurance. Having this insurance means that you’ll be able to assist your tenants should an accident or injury occur. Changes to buy to let mortgage interest relief system
Protect your home during the festive season
Properties become a lot more vulnerable to theft during the holiday season, especially if your tenants are out of the house visiting family or friends. Aside from the basics of keeping windows closed and the alarm on, check you have valid landlord insurance to cover damage to the property or theft if your properties are let furnished.
