Overview
For landlords, buy-to-let insurance is a top priority. Even if you find the perfect tenants to rent your property, unforeseen events such as accidents, theft, and damage can happen. Landowner’s insurance can protect your investment – which is good news for you and your tenants.
What is buy-to-let insurance?
Buy-to-let insurance, sometimes known as landlord insurance, is designed specifically for property owners who rent their homes out to private tenants. This type of home insurance policy offers financial protection against potential risks and liabilities associated with renting out your property to tenants.
What insurance is a landlord responsible for?
Landlords are responsible for various types of insurance to protect their rental properties and mitigate potential risks. Here are the main insurance policies that a landlord should consider:
Buildings Insurance
Building cover focuses on protecting the structure of the rental property itself against risks such as fire, storm damage, vandalism, and, in some cases, subsidence depending on your policy cover.
When your policy discusses the ‘structure’ of your property, this may include the walls, roof, floors, and permanent fixtures inside and outside the property. We can’t recommend buildings cover enough to landlords, as this type of policy safeguards your investment and your own finances if you need to make a claim.
Contents Insurance
If you rent out your property with furnishings and white goods, we highly recommend that you take out landlords’ contents insurance policy.
While tenants are typically responsible for insuring their own possessions, landlords may choose to cover any furniture, appliances, or other contents they provide as part of the rental property. This insurance can protect against damage or loss caused by insured events like fire, theft, or flooding.
Liability Insurance
This insurance is crucial for landlords as it covers them against legal claims made by tenants or visitors who suffer injury or property damage due to negligence on the landlord’s part. It provides financial protection in case of legal expenses and compensation claims.
Home Emergency Assistance Insurance
This insurance provides access to emergency repair services for issues such as plumbing, heating, or electrical failures. It ensures that landlords can promptly address urgent maintenance problems in their rental properties.
How much does buy to let insurance cost?
Whether you’re new to the buy-to-let market or have been a landlord for years, we can help. Our team of insurance experts are always on hand to talk through the best policies to suit your home and get you the best prices on the market.
Find out how much you can save on buy-to-let insurance and call us on 0800 107 0947 to get a free quote today.
