Insurance warning to tenants and homeowners

News Category: Management

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One property management issue all landlords in the UK must bear in mind is that of insurance.

And the latest research from Sainsbury's Home Insurance indicates that not having the right insurance could be costly.

The insurance firm calculated that the cost of replacing the contents of an average British home after a disaster - such as fire - stands at around £44,500.

Neil Laird, Sainsbury's Home Insurance manager, said: "It's staggering when you tot up all the contents in your home, just how much it would cost to replace them all should the unthinkable happen."

All homeowners should follow the "essential" process of comparing the different policies available and the extent of cover each one offers.

Landlords can also get hold of insurance policies that are specifically for them, which provide cover for other issues such as non-rent-paying tenants and damage caused by those living in their homes.

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