Landlords cancel landlord insurance policies to save costs

Landlords continue to struggle through the recession to keep cashflow positive as rents and mortgage rates bite relentlessly at each others throats.

A worrying statistic has come out through research from Direct Line to indicate that landlords are trying to cut costs by cancelling landlord insurance policies.

This worrying trend obviously puts both landlords and tenants at risk.

The research indicates that 105 of landlords have cancelled their landlord insurance policy.

Kate Syred, of Direct Line commented ‘The Government’s recent recommendation to protect tenants in the event of their rental home being repossessed is a step in the right direction.

However with high numbers of landlords cancelling insurance policies to save money, if something were to go wrong, tenants may still find themselves without a roof over their heads.’

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