With headquarters in Lincoln, Letsure (together with Homelet and Rentshield) is part of the Barbon Insurance Group, an established name in property insurance and a company authorised and regulated by the Financial Conduct Authority (FCA).
For the past 15 years or so, Letsure has focussed on the residential lettings market where it offers not only building and contents insurance for landlords and owners of buy to let property, but a wide range of related policies designed to protect landlords’ interests. In further support of private landlords, Letsure also takes up tenants’ references and currently conducts some 60,000 of these each year.
The term may cover a surprisingly wide range of risks – some of which may be clear but others may not be immediately apparent to a landlord just starting out in his business enterprise:
- buildings and contents insurance – if you own any property, your own home for example, you are likely to be aware of the importance of protecting the structure and fabric of your property, together with its contents, from such risks as fire, flooding, storm damage, impacts, theft and vandalism. Let property is no exception;
- as a landlord, however, you also have a duty of care towards your tenants. In the event of their injury and a claim that it was caused by your negligence, you might face especially stiff claims in damages. The property owner’s liability cover typically incorporated into landlord’s insurance is designed to indemnify you against such claims;
- if you employ other people to help run your business you are also almost certain to have a legal responsibility for holding a minimum £5 million employers’ liability indemnity; and
- last but not least, you have a business to run. This means ensuring as far as possible that the property in which you have invested returns a consistent rental income, uninterrupted by events which render the building uninhabitable, tenants defaulting on their rent, or even the need to evict tenants on occasion – some forms of landlord insurance may protect you against such eventualities.