New 2016 report details the top 10 insurance risks from 100,000 policies
Simple Landlord Insurance have issued their yearly report “RISK REPORT 2016 :Challenging tenants, water & theft: a Simple guide to the unforeseen costs of buy-to-let”
They have used their insight as a leading insurance provider to the buy-to-let landlord market for the last 10 years, to identify the unforeseen drains on a landlord’s pocket and provide advice on how you can avoid them.
The report analysed more than 100,000 policies and investigated the most claimed-for events in buy-to-let properties, identifying factors which most commonly lead not only to higher insurance premiums, but hassle and ultimately loss of earnings.
The top 10 claims were
|The Damage||Ave repair cost||Days to conclude claim|
|3||Damage from break ins||£2,300||22|
|5||Accident damage to building||£2,200||18|
|8||Vehicle crashing into property||£4,600||24|
|10||Leak from property above||£2,000|