Simply Business Landlord Insurance
Simply Business appears unequivocal when it comes to ranking its own importance in the market for landlord’s insurance. The company claims to be the biggest online insurance broker in the UK, with policies currently in issue to more than 225,000 small and medium sized businesses and landlords.
Its website highlights a number of awards and mentions it has received from various sectors of the online brokerage market.
Simply Business was first launched as recently as 2005, and consciously still pursues what it describes as its “start-up mentality”.
If you own property to let, there is no legal requirement for you to have landlord’s insurance (though as part of your mortgage contract, you will typically be obliged to have appropriate buildings cover).
Nevertheless, one element typically included in some let property insurance policies is employers’ liability cover and this may indeed be a legal obligation if you employ other people to help you run your buy to let business.
Furthermore, there may be other legal requirements relating to the way in which you run your let property – the obligation to conduct annual gas safety inspections and to hold the relevant gas safety certificate, for example.
In any event, it may be well to distinguish the different purposes, scope and nature of cover afforded by landlord insurance and standard home insurance. Although the two share some common features – such as protection of the structure and fabric of the building, for instance – there are a number of features particularly related to the property’s use and occupation by tenants rather than an owner-occupier.