You can tailor your cover to focus on the areas you need, such as:
Buildings insurance
Provides cover for the physical structure of the building and any permanent fixtures. Most policies will mean that you are covered against damage to the roof and walls form things such as floods, storms and subsidence.
Contents insurance
This has special importance if you are renting your property out partly or fully furnished. Contents insurance will cover the cost of replacing or repairing items such as carpets, furniture, televisions and other items if that nature. It is the responsibility of the tenants to ensure that their personal belongings are insured, usually with their own separate contents insurance policy.
Landlord’s liability insurance
Gives landlords protection from having to pay the full cost of a personal injury claim made against them by a tenant or visitor to the property.
Extras
Some optional extras you may wish to consider adding to your policy include:
- Rent guarantee insurance will cover you for missed or completely non-paid rent form your tenants
- Legal expenses cover will cover the cost of legal fees should you be taken to court by a tenant
- These extras may not be available from certain insurance providers, so if you require them, make sure you find out if they're available before you apply for a policy.
- Loss of rent keeps you afloat if the property suddenly becomes uninhabitable
Whether you own a portfolio of properties, or a single buy-to-let residence, there are policies designed to suit your requirements. Follow the links above to see how much you could save on your landlord insurance.