The property owner and managing agents where appointed, may be responsible for ensuring an appropriate level of insurance cover is maintained on the property.

As a landlord you will want to protect your assets, one way to do this is through property insurance. When it comes to property insurance there are two separate valuations to use which dictate the amount of insurance. These are the property market value and its reinstatement value, and it is essential you see these as two different values.The Property Market Value refers to the amount you will receive if you sell your property, whereas, the Reinstatement Value relates to the demolition and rebuilding costs of your property. If you rely only on your property’s market value and an expert reinstatement valuation is not carried out, you cannot be sure that the correct sums insured are in place – you could end up under insured.