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The number of landlords claiming on insurance against missing rents increased significantly last year – while non-payment of rent is an unenviable situation for any landlord this news proves the need and the importance of the right landlord insurance products.

According to Endsleigh, the number of claims for the non-payment of insurance increased by 32% in 2009 and by 58% in the second half of the year alone. Carlos Thompson, head of business development at Endsleigh says: "The increase in landlords and lettings agents suffering defaulting tenants is a big problem in the industry at the moment.

"It is likely that many of these tenancies were taken up several years ago before the recession took effect, and what we're seeing now is that people's financial situations have changed and they are finding themselves struggling to meet payments that they were previously comfortable with."

If your tenant does not pay their rent then it means you are left with the buy to let mortgage bill at the end of the month. That might be affordable for a month or two but what happens if the tenant continues not to pay their rent? How long could you handle your buy to let mortgage repayments without a stream of rental income?

With the best buy to let landlord insurance you don't need to answer that question. You can be safe in the knowledge that with the right insurance your mortgage, your property investment and all your other assets are safe.

SOURCE: Endsleigh, 23/03/10

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