Sainsburys Bank Rental Property Insurance Warning
Published: 27/08/08
With the great increases in property prices over the last few years Sainsburys Bank are reminding landlords to check their home insurance is still sufficient to cover the current value of the building.
The buy to let market has enjoyed amazing price rises, with the value of stock in this market going up by GBP70 billion last year alone. It therefore makes a lot of financial sense to check insurance policies every couple of years to make sure the sum insured will be enough to cover the real value of the place.
A point of not to any buy to let landlords is that the cost of replacing a property is less than the actual resale value, though both figures will increase in line with each other to a certain extent.
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