Buy to let property insurance policies offer you protection for your buy to let property and it’s contents.
Landlords insurance for buildings and contents may include as standard:
- loss or damage arising as a result of fire, storm, flood, falling trees, theft, malicious acts or vandalism
- Up to, say, £40,000 for your loss of rent or for providing alternative accommodation for the tenant following damage caused by an insured event.
- legal liability as owner of the buildings for causing injury to others or for damage to their property. Cover is, typically, up to £2,000,000 for any one claim
- home emergency cover – within buildings insurance you can get cover up to a specified sum, say £250, towards paying for call-outs or repairs if you have an emergency.
Contents cover can sometimes be added, but often only available in circumstances where the buildings is tied to another insurer, such as in the case of a leasehold flat.
Landlords Insurance additional cover options
You can often tailor your policy with the following cover options:
- buildings accidental damage and malicious damage by tenants to cover you for incidents such as banging a nail through a pipe or putting a foot through the ceiling whilst in the loft and malicious damage by your tenants.
- contents accidental damage and malicious damage by tenants so you don’t have to worry about things such as spills on carpets and malicious damage by your tenants.
- legal expenses, rent guarantee and eviction of squatters cover insures you for irrecoverable costs and fees to pursue or defend claims involving breach of tenancy agreement and unpaid rent in excess of one month and up to 12 months. The maximum amount payable for legal expenses and unpaid rent in any 12 month period of cover is normally £50,000.
Please note that Landlords Insurance is designed to cover certain unforeseen events and doesn't cover everything. It does not cover things like general wear and tear or damage that happens gradually over a period of time. There is also an excess on each claim.