Loss Of Rent Cover
Should the worst occur and the property gets flooded, it will take time and a lot of work for the property to be properly refurbished or even rebuilt. It will obviously remain uninhabitable during this period, during which time the loss of income from the property will be enormous. This policy will only pay out for a certain amount of time, typically six months.
While of less value, buildings on the outside of a property, such as a garage, are at just as much risk as the main property. It may be an afterthought, and only relevant for some, but to not have this policy in place can be a costly error. It’s an easy oversight to make, but outbuildings should not be ignored when it comes to flood risk, even if it is generally not in use, particularly if you have expensive fittings and fixtures within them.