Landlords Must Be Wary Of Weather Warnings

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It's that time of year again – we wake up to wind and rain and news stories of towns and villages all over the UK literally under water.

Every winter, the flood and gale warnings seem to get more regular and for some buy to let landlords they seem to get worryingly close to their property investments. For those who have properties near rivers or near the coast the fear of flooding is real – and it can destroy buy to let businesses without the right insurance.

One flood may mean new carpets, new tiling, new flooring, new electrics, new piping and a complete redecoration of the property. It might lead to damp, to rot and to even structural damage. The same goes for gales and hurricanes – trees through roofs, power lines collapsing and walls falling down – every year many people in the UK have to deal with these worries.

For those with the right insurance, the winter weather and the destruction it causes is an annoyance at best – good cover means lost income and all damages are covered. It will mean inconvenience for your tenants and for you and it may mean some hard work on your part. But your investment will be safe and you will be able to carry on letting it out in the future.

For those without insurance, severe weather damage may means thousands and thousands of pounds in damages. It may mean missing out on months and months of rental income and it may even mean you lose your tenants altogether. In the worst cases it might even lead to repossession.

Which scenario would you choose? Talk to your buy to let mortgage adviser about your cover – if you think your covered it might be worth making sure you are protected against all weather disasters and if you have no cover at all you should pick up the phone right away, because the weather doesn't wait for you.

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