Calling all landlords or potential landlords! There’s some great buy-to-let investment opportunities NEW on the market, straight from your TV and bookshelf.
But how much would it cost you to cover them insurance-wise?
Simple Landlords Insurance have drawn on their expertise to imagine what it would cost to take out a policy on some pretty famous properties – and the pretty famous tenants living in them.
Simple’s team of underwriters considered all the risks to come up with the quotes for properties including The Red Keep from Game of Thrones, Home Dome from the Teletubbies, and Castle Dracula itself.
Please note these quotes are purely for entertainment purposes.
The Red Keep
This 247 bedroomed castle is situated in Kings Landing, on the edge of sheer cliff. Potential landlords might do well to invest in a survey to check for erosion – the distance to the edge might effect whether or not you can acutally get insurance…
It’s hard to keep track of exactly who the current tenants are, as there appears to be a rather high turn-over. (You may wish to research Key protection cover, as these change hands so regularly).
Local law-enforcement (also a high turn-over) have been summoned on several occasions, in an attempt to prevent tenants from indulging in torture, murder, regicide and parricide. The property is frequently under attack/under seige, and it is strongly strongly recommended you read your insurance policy with care to understand if you have cover for explosions, poisonings, dragon-fire, and sword damage. (Explore Excess protection, too).
On the other hand, if you can get the right tenants in and run The Red Keep as an HMO (House in Multiple Occupation), the profits could be amazing!
|Rent:||£12,000,000 pa (£1m pcm)|
|Insurance:||£50,000* – key exclusions include Malicious damage by Wildfire, and any direct or indirect liability arising from Walks of Shame. Optional add-ons include a Frost excess waiver.
Home Dome, Teletubbieland
This modern, underground property offers delightful views over a grassy golf course. Inside there is an open plan layout, cheerfully decorated in yellow, red, green and purple.
Currently an HMO (House in Multiple Occupation), the existing tenants are almost certainly students. They favour flamboyant accessories, live off toast, have a state-of-the-art entertainment system, and throw wild parties where everyone ends up covered in pink custard. (Why not look into Accidental and Malicious damage insurance?).
As with any underground house, there is an increased risk from damp, and your insurance company is going to want to see a structural engineer’s report to check the quality of the build. Repair work may require specialist contractors, and this might put up the price of your premium.
|Rent:||£18,000 pa (£1,500pcm)|
|Insurance:||£1,750*, with increased excess for accidental and malicious damage by custard.|
One careful and meticulous tenant who appears to have been in residence for a very, very long time. He tends to keep himself to himself, but always pays his rent on time, and in gold.
The curtains are nearly always drawn, which is usually a red flag for any landlord – because anything could be going on inside the property. However, on inspection, everything seems to be in order, apart from some minor stains on the carpets – possibly red wine? – but nothing that can’t be covered by Accidental damage insurance.
There are some minor issues with the immediate neighbours, who occasionally march on the property with pitch forks. On the advice of police, a CCTV surveillance system has been installed, and this seems to have deterred angry mobs.
The tenant informs us that there may be bats in the loft, but they don’t appear to be causing any damage, and are a protected species.
|Rent:||30 Gold coins pcm – by invitation only|
|Insurance:||*Cover Declined based on occupation of tenant and previous claims experience – those ‘red wine’ stains.|
This four-bedroom suburban new-build is energy-efficient and easy to maintain, near to great local facilities and good schools. It’s a magical proposition for any landlord looking to target young professionals or families.
Upstairs there is also a family bathroom and en-suite, and downstairs are the kitchen, dining room, living room, and an unusually spacious cupboard under the stairs.
The current residents have a reputation for being prickly, and should be handled with care. Landlords will have to give plenty of notice before inspections, and keep records of all correspondence. The good news is that they’re very keen to keep up appearances, which should mean the property is kept neat and tidy.
Please note there is some risk of attack by evil Death Eater wizards, so take care that you have an accurate Building Sum Insured figure – just in case the worst should happen.
|Rent:||£19,200 pa (£1600pcm)|
|Insurance:||£295* – excluding loss or damage caused by magical mishaps and/or unlicensed wizardry.|
A beautiful 17th Century country house with gorgeous views across the Lambton countryside, and excellent fishing.
With a property of this age there are always going to be ongoing maintenance issues, which need to be dealt with in accordance with the property’s Grade 1 listed status. Potential landlords need to factor this into their costs.
The existing tenant is proud but precise, and likes to swim in the nearby lake wearing nothing but a white linen shirt, causing large-scale swooning. However, detailed credit checks show he has at least £10,000 a year (£800,000 in today’s money) which makes him a pretty safe bet as a tenant.
Although he spends a good deal of time in London, the property is never left unoccupied as he lives with his sister, who is mostly to be found practicing the piano.
|Rent:||£210,000 pa (£17,500pcm)|
|Insurance:||£6,450.* There is no Emergency services cover, so if ambulances reviving swooning women cause any damage you’re paying for it yourself.|
*Fictional premiums for fictional properties!