Check your insurance

If you are planning to buy a rental home, or you're thinking about what to do with one you have just acquired, this is the place for any questions about starting out in the rentals business.
costa-brava
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Check your insurance

Post by costa-brava »

I have been reading posts with questions about the legal situation especially with reference to permissions and taxes. This is especially the case for when you have bought a second home and are thinking about maybe renting it out.
One very important factor is home insurance. In the UK it is fairly easy to get insurance for a home that is just occasionally occupied and is also for rent. Other countries are not always so easy but in nearly all cases where permission is required the insurance factor is an obligatory element. So it's worth checking that your policy covers you before the first guests arrive. Apart from the legal requirements it just makes good sense but can often be overlooked.
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Robin S
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Post by Robin S »

+1. Inadequate insurance for the purpose the property is used for can invalidate the mortgage (assuming you've got a valid mortgage!).
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