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Buy to Let Insurance
Up to 35% no claims discount for careful landlords
Cover available for property undergoing renovation
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Save up to 30% on your renewal premium
Up to £20k free contents cover available
Many tenant types acceptable
25% multi building discount available
Greatest buy to let deals available
Up to 13 weeks cover for vacant properties
Buy to Let & Landlords Insurance
A standard home insurance policy will not cover a buy to let property. Once you let out your property to a tenant, you need to consider Buy To Let Buildings Insurance, also if your property is furnished you will need Buy To Let Contents Insurance.
You also need to make sure that your buy to let property has its fixtures and fittings insured, imagine if the tenant floods your property and water damages the fixtures and fittings or even blows up your boiler! Take all these things into consideration when choosing the correct Buy To Let Insurance policy for your rental properties.
Professional Landlords Considerations
If you are a landlord, then there are a number of considerations you need to take on board relating to the protection of your investment property – and your finances.
Here we touch on the basics …
Why do you need cover?
If you have a buy to let mortgage on your property, then as part of your contract with your mortgage provider, typically, you will be obliged to have at the very least, an adequate landlords buildings insurance policy.
This protects both your and their interests in the property should something cause loss, damage or destruction to the structure, such as fire or floods. In the event of a successful claim, the insurance policy will pay out for the repair / replacement, less any excess.
This means that should disaster strike, you won’t be left out of pocket for the full amounts of repair or rebuild.
Not only does landlords insurance cover the structure and fabric of your property (and can also cover the contents if required) but it covers you against various liability claims. For example, court costs and compensation claims resulting from a tenant or one of their guests suffering injury, loss or damage as a result of being on or around your premises.
Additional types of liability cover are available that you may also wish to consider. You can find out more here.
Landlords owning a block of flats or commercial block buildings can take advantage of a block insurance policy. Unlike some other insurance policies, ours also include fixtures and fittings too (such as bathrooms and fitted kitchens).
You must ensure you are not underinsured. If you are under insured, in the event of a successful claim, the amount paid will be reduced. There are a number of calculators available online to calculate what sum insured is required.
If the property is mortgaged, your lender would normally advise what sum insured they require. Some of our clients have used the BCIS sum insured calculator click here to visit the site
The majority of landlord's buildings insurance cover provides a certain amount of accidental damage cover. If you are unsure whether you need full accidental damage cover please speak to one of our advisors.
New for Old
The majority of landlord's contents insurance policies are restricted to indemnity cover (which is the replacement cost of the item). If you require new for old cover, click here to get a quote and select the relevant option.
These are just some of the key things you need to take note of when arranging your cover. If you have any questions or queries, then please feel free to contact us. We will be more than happy to provide advice and guidance.