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Landlord Insurance Cover

Landlord Insurance Policy Recommendations

If you are a landlord with a home to let, it is important to take out appropriate insurance.

Property is a valuable asset and having a landlord insurance policy will help protect your investment. It can also offer a financial lifeline if something goes wrong. And things can go wrong. What if a tenant spills red wine on the carpet, or floods the bathroom? Or what if your tenant fails to pay the rent and you end up in a costly legal dispute? Or maybe you need to undertake costly repairs following damages.

Nobody likes to think that it will happen to them….but if it does; you need to ensure that you are adequately protected.

We can help you ensure your buy to let property is fully protected by offering you the right insurance product for you!

Through Malta’s leading insurance company GasanMamo, Frank Salt Real Estate have the ideal landlord policy to suit your needs.Gasan Mamo Insurance has designed a comprehensive tailor made, easy to read and understand policy, to suit your requirements, with various options to choose from, protecting your buildings, contents, rental income and legal liabilities.

BUILDING AND LANDLORD’S CONTENTS

The policy covers your buildings and contents against loss or damaged caused by:

  • Fire, explosion and smoke
  • Lightning and thunderbolt
  • Earthquake
  • Theft or attempted theft
  • Civil commotion and malicious damage
  • Escape of oil or water
  • Storm or flood
  • Falling trees
  • Impact by aircraft, vehicles or animals

AUTOMATIC EXTENSIONS UNDER BUILDING AND LANDLORD’S CONTENTS SECTIONS

The policy covers your buildings and contents against loss or damaged caused by:

  • Accidental breakage of fixed glass, mirrors and sanitary fixtures
  • Insurance for underground services
  • Insurance for replacing documents
  • The cost to trace and access the source of a leak
  • Loss of metered water
  • Insurance for locks and keys
  • Cover for contents in the open
  • Cover for the cost to replenish fire fighting appliances following a fire

RENT GUARANTEE

This section of the policy provides cover for loss of rent up to a maximum period of twelve months if the buildings suffer an insurable loss or damage and are uninhabitable as a result.You will also be covered in the event of non-payment of rent which is due to you if your tenant leaves your buildings before the end of the tenancy period without giving you or your agent notice and/or your tenant stops paying rent owed to you or your agent. This section will also cover other legal costs and fees you incur to legally evict a tenant following rent default or when recovering amounts owed to you by a tenant.

The policy provides an indemnity limit of €1,200,000 which covers costs which you become legally liable to pay following accidents happening in and around your property.

If you are looking for a trustworthy and professional Estate Agent to help you sell or rent your property Frank Salt Real Estate is your best option! With over 40 years of experience in assisting clients with their property rental requirements, Frank Salt Real Estate’s Property Letting Division is the longest established agency of its type in Malta. All Frank Salt Real Estate’s property letting consultants have a solid background in real estate and have received specific training to cater for the specific needs of the rental market. We’ve worked extremely hard over the years to build a solid reputation and we pride ourselves on the fact that our clients come back year after year.

CONTACT ONE OF OUR LETTING CONSULTANTS OR CALL ON 23 794 794 OR EMAIL US FOR MORE INFO!

GasanMamo Insurance Ltd. is authorised by the Malta Financial Services Authority to carry out general insurance business.

Tips for Landlords to minimise Risk!

  • Engage a reputable lettings agency to source your tenants. They will help you rent out your property fast and will also be able to guide you in case of difficulties with a tenant.
  • Ask prospective tenants for a reference from a former landlord if possible.
  • Agree an inventory with your tenant at the start of the tenancy.
  • Provide contact details to your tenant so that they can get in touch if there are any problems.
  • Don’t neglect the repair or maintenance of the property.
  • Don’t try and remove your tenant by changing the lock or throwing out their possessions.
  • Give your tenant proper written notice if you want possession of your property.
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