Insurance is about more than just burglary, says expert

Residential landlords who offer fully-furnished properties need insurance to protect themselves against other things besides burglaries.

This is the view of Malcolm Tarling, media relations manager at the Association of British Insurers, who said there are many scenarios that could lead to the loss or damage of property.

He said: "It is not just about burglary of course; it [a property] could flood or there are many types of events that could wipe out your possessions.

"It could take years to replace them and you may never be able to replace them."

The comments follow the publication of a report from the Clydesdale and Yorkshire banks, which revealed that 150,000 burglaries are not covered by insurance each year, with the average loss totalling £1,200.

"Anyone who lends money is unlikely to lend money on the basis you haven't got some kind of insurance to protect your investment if things go wrong," the expert warned.

Posted by James Curtis

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