The Government has also launched an online business support finder tool, to help businesses and self-employed workers find out what financial support is currently available. For a detailed guide to the government support on offer, take a look at our Business Guardian Angel article.
Landlord insurance FAQs
Here are the questions we’ve received on landlord insurance in relation to coronavirus.
The widespread financial impact of coronavirus means that many tenants are struggling to pay their rent – both in the commercial and residential sector. In response to this, the UK government has introduced a number of measures to protect landlords and renters during this difficult time.
All evictions have been suspended for the next three months. To cover any short-term losses during this period, landlords can apply for a three-month payment holiday on their Buy-to-Let mortgages. Tenants are still liable for rent owed, but the measures taken by the government to protect incomes should mean rent will continue to be paid – though possibly after a short delay while these measures come into effect. More information can be found on the government website.
Our free legal helpline is still open to help answer any questions you have during this uncertain time. Please check your policy documents for contact details, which can be found in your online account.
No. If you’re a residential landlord through AXA Commercial Direct, you do not need to update your policy records at the moment – we understand that a tenant’s status could change a number of times during this difficult period. Once the current crisis is over, we’ll ask you to make sure your records are up-to-date.
We know this is a deeply worrying time for you and your tenants. If you’re struggling to keep up with your monthly payments due to coronavirus, call us – we may be able to help. Our phone lines are extremely busy so it might take longer than usual to get through, but please bear with us.
Our free legal helpline will also remain open to help answer any questions you have. Please check your policy documents for contact details, which can be found in your online account.
No. Our loss of rent cover is designed to protect rental income following damage at the rental premises. The policy covers loss of rent from things like floods or fires but does not apply to pandemics or infectious diseases, such as coronavirus.
We understand this is a difficult time for landlords and tenants alike. The government has introduced a set of measures to help landlords and renters over the next few months. This includes suspending both evictions and mortgage payments for a 3-month period – details of which can be found on the government website.
The financial impact of coronavirus is affecting individuals and businesses up and down the country – we understand how worrying this time may be for you. The government is offering a range of support packages to help people through this difficult period, details of which can be found on the government website.
However, if you’re struggling to keep up with your monthly payments, please call us. Our phone lines are extremely busy at the moment, so getting through may take longer than usual – but bear with us, we want to help.
If you find yourself struggling financially, there are tools out there to help you. The Money Advice Service’s free Money Navigator tool can help you with guidance that is based on your own personal situation. Need more advice on handling your business and finances? Visit Business Debtline or the Financial conduct Authority (FCA) has a wealth of information on hand to help if you’re experiencing financial difficulties due to coronavirus.
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