Source Insurance has added an additional specialist landlord property insurance product onto its panel.
Landlord Plus is underwritten by Iindependently owned managing general agent, Modus, which is backed by a number of Lloyd’s underwriters.
Modus will be making its Landlord Plus product available on the Source landlord panel, further extending the panel’s non-standard footprint. The product provides landlords with cover for all tenant types including unoccupied properties and holiday homes as well as properties undergoing renovation or construction work up to £250,000.
Buildings cover is available up to £1m and contents £100,000 with £5,000 worth of contents included as standard as well as cover for malicious damage and theft by tenant also as standard with up to 25% of building sum insured cover for loss of rent.
Landlords with previous claims or historical CCJs bankruptcy or IVA arrangements can also obtain cover.
Kevin Paterson (pictured), managing director of Source Insurance, said: “We are committed to offering the largest range of non-standard online products to further complement our large panel of competitive household and landlord products and as such Modus is a great fit.
“We successfully launched with Modus with Novus Plus onto our household platform in January which has been a great success. Not only does Landlord Plus offer real value for money cover across a wide range of diverse risks but the team at Modus are experienced in e-trading with a fresh and innovative approach.”
Scott Banks, Modus’ director added: “Source Insurance has honed in on the fact that more and more properties and their owners fall outside the standard box, so represent an important distribution channel for our Landlord Plus product.
“We’re delighted to join their landlord panel and give their intermediaries access to a fresh non-standard option for their clients.”
