Property investors are always on the hunt for the next area of housing type.
With Season 7 of Game of Thrones hitting screens tonight, Simple Landlords Insurance have drawn on their expertise to imagine what it would cost to take out a policy on some pretty famous properties including the show’s Red Keep – and the famous tenants living in them.
Simple’s team of underwriters considered all the risks to come up with the quotes for properties which also includes Postman Pat’s house in Greendale, the Home Dome house of the Teletubbies and a Hobbit’s cottage.
Please note these quotes are purely for entertainment purposes! But it might help landlords think about their risks applying to their own investments, and what to think about when taking out or renewing landlord insurance…
- The Red Keep
This vast, 247 bedroomed castle is situated in Kings Landing, an up-and-coming city teeming with life. Potential landlords might do well to invest in a survey to check for erosion – make sure you measure the distance to the cliffs carefully to ensure your insurance company can actually cover you.
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 often).
Local law-enforcement (also a high turn-over) have been called on several occasions, in an attempt to deter torture, murder, regicide and parricide. The property is regularly under attack or under seige, and it is strongly strongly recommended you read your insurance policy carefully to see if you’re covered 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 profit is likely to be fantastic! And you could even bring peace to Westeros.
| Price: | £500,000,000 |
| Rent: | £12,000,000 pa (£1m pcm) |
| Yield: | Estimated 2.4% |
| 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.
|
- Postman Pat’s house
This delightful cottage is located on the edge of Greendale, just outside Pencaster, in the heart of the Yorkshire Moors.
There are two bedrooms, a kitchen/dining room and a cosy living room with a gas fire, which has recently been serviced. Recent repairs have also been undertaken on the slate tile roof, which had suffered helicopter damage.
The tenants in residence are a professional working family, but it is suggested careful references are run as a matter of course. Local rumours indicate there have been some workplace problems and the main bread-winner is now on a performance improvement plan after a series of failings and mishaps at work. (You may wish to look into Rent guarantee insurance in case the family lose their income and fall in to rent arrears).
Please note the family own a cat, and there is some minor, pet-related damage to the carpets and curtains, which may need replacing.
| Price: | £95,000 |
| Rent: | £6,000 pa (£500pcm) |
| Yield: | 6.3% |
| Insurance: | £168* – damage by pet is an optional add-on.
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- Hobbit’s cottage, Bag End
This tiny, quirky, studio-cottage would make the perfect holiday let for those looking to get a taste of rural life ‘glamping’ for a long weekend.
Some maintenance is needed as the property was left unoccupied for some time by the previous tenant, who went off adventuring and saving the world. (Something to do with a Ring).
The open fire will certainly need the chimney sweeping annually, a new grate, and smoke alarms and carbon monoxide detectors installing.
Unusual properties will often need specialist insurance, and as with any holidaylet the increased footfall will mean a higher risk of damage and general wear and tear. You will need to furnish the property, and it might well be worth thinking about insuring your contents for Accidental damage.
Once you’re up and running, however, demand for this sort of property is on the rise, and you can begin to recover your costs with rental fees of up to £800 a week in high season.
| Price: | £50,000 |
| Rent: | £5,000 pa (seasonal) |
| Yield: | Estimated 10% |
| Insurance: | £425*. Key exclusion includes direct or indirect liability arising out of hitting ones head on the ceiling.
|
Overview:
| Property | Price | Rent | Yield | Insurance |
| The Red Keep (Game of Thrones) | £500,000,000 | £12,000,000 pa (£1m pcm) | Estimated 2.4% | £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. |
| Postman Pat’s House (Greendale) | £95,000 | £6,000 pa (£500pcm) | 6.3% | £168* – damage by pet is an optional add-on.
|
| Home Dome (Teletubbies) | £485,000 | £18,000 pa (£1,500pcm) | Estimated 3.7% | £1,750*, with increased excess for accidental and malicious damage by custard. |
| Pemberley (Pride and Prejudice) | £16,500,000 | £210,000 pa (£17,500pcm) | 1.3% | £6,450*. There is no Emergency services cover, so if ambulances reviving swooning women (who have seen the tenant in his wet shirt) cause any damage, you’re paying for it yourself. |
| 4 Privet Drive (Harry Potter) | £440,000 | £19,200 pa (£1600pcm) | 4.4% | £295* – excluding loss or damage caused by magical mishaps and/or unlicensed wizardry.
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| Castle Dracula | £priceless | 30 Gold coins pcm – by invitation only | ? | Cover Declined* based on occupation of tenant and previous claims experience (lots of ‘red wine’ stains to the carpet, and damage by angry mobs with pitch forks).
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| Hobbit’s Cottage (Lord of the Rings) | £50,000 | £5,000 pa (seasonal – holiday let) | Estimated 10% | £425.* Key exclusion includes direct or indirect liability arising out of hitting ones head on the ceiling.
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*Fictional premiums for fictional properties!
Simple Landlords Insurance is the direct to consumer brand owned by the insurance services company Ryan Direct Group.
Simple Insurance has been trading since 2003 and is a brand name of Millennium Insurance Brokers Ltd, a Ryan Direct Group (RDG) company.
Landlords trust Simple to protect over 50,000 rental properties across the UK.
Customers appreciate our competitive prices and the ability to manage policies online 24/7. At Simple Landlords Insurance we don’t do gimmicks, we just offer low prices every day.
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Simple Landlords Insurance covers a wide range of tenant and property types, including those some insurance companies won’t typically insure.
To get a quote visit www.simplelandlordsinsurance.com or call 0808 172 5600
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Daniel Peacock