Landlords need to check their buildings insurance policy to make sure they’re properly covered in the event of a flood at rental properties and they should also check their contents insurance against flooding risks if they are renting out a furnished property to tenants,

John Boyle, Managing Director of Homelet, who have highlighted the potential flooding risk, said: “Landlords must be aware that having flood cover within their buildings insurance is important considering the current situation. Those living within the current affected areas need to be particularly conscientious.”

According to The Environment Agency; the average cost of a home flooding is £28,000, compared to £7,300 losses from fire damage and just over £1,000 for a burglary.

Boyle added: “This signifies just how important comprehensive buildings and contents insurance is. If landlords do not ensure they have comprehensive flood cover; especially within these predicted affected areas of Wales, South West England and Northern Ireland; their properties could become damaged by the affects of flooding and putting it right out of their own pockets could cost a fortune. This could also mean their house is inhabitable; thus their tenants having to move out, and therefore, no rental income.”
If you are concerned about your property being at risk, please visit
www.environment-agency.gov.uk for up-to-date information on specific areas which are at risk of flooding.”