Landlord Buildings Cover

Landlord Buildings Cover

Getting the right Landlord Buildings Cover policy is all about protecting your investment. You will probably have spent a fair amount of cash in purchasing your property or portfolio of properties. You probably don’t want to have to keep spending out if something goes wrong.

A good landlord home insurance policy may help you get the cover you need. With this in place, if something does go wrong, then you may be able to call on your insurer for help. This could potentially save you a lot of your own cash. The point of buying properties to rent out is, after all, to make money from your lettings and not to have to spend money unnecessarily.

Although buying a buy to let buildings insurance policy is much like insuring your home from a building perspective, there are things to think about that may be a little different. Getting things right with this kind of policy may mean that you get cover that is right for your needs and that comes at the right cost. So, what type of landlords insurance should you consider?

• What kind of property/properties will you be insuring? Some policies are designed for freehold and standard leasehold properties and may not give you the right kind of cover for shared leasehold properties such as flats.
• What happens when you are between tenants? If your property is empty for a while then you may need to check that you still have the right landlord property insurance cover levels. It’s all too easy for vandals or squatters to break into and damage an empty house or flat.
• Where do you get your tenants from? If you use housing authority or local authority tenants where you do not vet your tenants yourself before they move in then you may need specialist cover.
• How long are your tenancy agreements? Check out any terms in the policies you’re looking at. Some policies may, for example, specify that your tenancy agreements must be set up for specific periods (i.e. 6 months+).
• How many properties do you need landlords insurance for? Some buildings insurance for landlords policies can be set up to insure multiple properties. Some of these, however, may have a limit on the property numbers you can include as standard.

Getting advice from a specialist Landlord Buildings Cover specialist may be useful to you before you choose a policy to take out. Each landlord has their own individual needs and it may save you time and money to get this kind of help to make sure you make the right decisions.