A guide to buy-to-let insurance | moneyfacts.co.uk
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An essential guide to buy-to-let insurance

If you’re a landlord and rent out a residential property, it’s essential to have the right insurance in place to protect your investment. Premierline could help protect your property interests by recommending the right insurance to match your needs. Find out more about buy-to-let insurance

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Premierline Business Insurance Broker understands that every business faces different challenges and risks. Its experienced advisers are able to complete a market search to arrange the right insurance solution to meet your requirements. If, however, you know your insurance requirements and do not require advice, its website allows you to compare insurance quotes online and buy the cover you need.

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Buy-to-let insurance

Renting out your property comes with a great deal of responsibility to ensure the safety of your tenants as well as protect your rental property. Therefore, if you’re a buy-to-let landlord, you should consider purchasing a specific landlord insurance policy rather than a standard home insurance policy. While it’s not a legal requirement to have this insurance, it provides peace of mind that if something was to go wrong you have protected your property investment.

Insurance covers to consider

If you’re a landlord and rent out a residential property or have a portfolio of buy-to-let properties, it’s essential to have the right insurance in place to protect your investment. You need landlord insurance that is flexible enough to incorporate all the different types of cover you need and offer comprehensive protection in case something goes wrong.

Landlord buildings and content cover – to protect your assets

Buildings cover and contents cover should be at the core of your insurance policy, which could cover you in the event that your property is damaged or your contents are damaged or stolen. If you have added extra buildings to your property, such as a conservatory or shed, get in touch with your insurance company to make sure that your property is covered for the correct amount and you have declared any structures of non-standard construction.

You may also need to increase the sum insured on your insurance policy if you install additional fixtures at your property such as solar panels.

Loss of rent cover – covers lost income if your property is uninhabitable after damage

Loss of rent cover is designed to cover your income if your property becomes uninhabitable for your tenants because of unexpected disasters, such as a fire, a flood or storm damage. There are also options available for covering you for theft or malicious damage by tenants, which may cause you to lose out on rental income.

Property owners’ liability – for injured tenants or damage to their property

Property owners’ liability is a cover that can give financial protection in the event that there is a large compensation claim against you following an injury on your premises that is deemed to be your fault.

An example of this would be if a slate tile fell off the roof and hit your tenant’s car, you could be liable to pay for the damage, which could be substantial.

Commercial legal protection – to protect your rental property if you take legal action

Legal protection is an insurance cover that will help you to cover the costs of legal action, whether this is because someone is taking action against you, or you are defending yourself. Unfortunately, there is little that can be done if a tenant doesn’t pay you rent or decides to destroy your property outside of taking them to court, which can be an expensive process.

Employers’ liability – to protect your employees

If you employ anyone to maintain, clean or concierge your property, whether this is full time, part time or freelance, you will need to have employers’ liability insurance. The only circumstance that you may not need employers’ liability cover is if your employee is a member of your family.

Employers’ liability is designed to protect you from any claims made by an employee who injures themselves while carrying out work for your company.

Compare landlord and buy-to-Let insurance quotes

Premierline is a business insurance broker that specialises in arranging insurance quotes for both residential and commercial landlords. Its insurance experts work with some of the UK’s most well-known insurers to get you the best quotation and are trained to assess your needs and offer advice and recommendations.

So, if you have a rental property and are looking to protect it with the right insurance, simply get in touch with an insurance expert at Premierline Business Insurance Broker. Call 0333 320 6021 or visit premierline.co.uk.

This is a sponsored guide and the content has been provided by Premierline Business Insurance Broker, a trading name of Allianz Business Services Limited.

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