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Buy To Let Insurance
Save up to 30% on your renewal premium
Up to £20k free contents cover available
Many tenant types acceptable
25% multi building discount available
Greatest buy to let deals available
Up to 13 weeks cover for vacant properties
Buy to let insurance
“Buy to let” has become a common description for the business of owning property with the specific objective of letting it out to tenants.
The success of the business relies upon the income stream generated by rents collected from tenants, but there is also the longer-term expectation that the let property increases in capital value – which may be realised if and when the property is sold.
The success and long-term security of any such business is likely to be protected by buy to let insurance.
Why do you need buy to let insurance?
The purchase of any buy to let property – whether residential or commercial – represents a very significant investment.
Since the property is exposed to a surprisingly wide range of risks and perils, it is necessary to protect it carefully with the appropriate form of insurance cover.
It is not only a question of the physical security of the building and its contents, however. A buy to let business is also exposed to a number of substantial, if somewhat less tangible, threats, such as:
if one of your tenants, one of their visitors or even a member of the public suffers an injury or has their property damaged through any kind of contact with your let property, you may be held responsible for a breach of your duty of care towards such individuals;
claims for compensation may reach very substantial proportions, so it is common for landlord insurance to include indemnity against claims of at least £1 million;
the law holds that you have a special duty of care towards anyone you employ to help run your buy to let business and requires you to hold a minimum of £5 million indemnity against the risk of any employee suffering an injury or contracting a medical condition or illness through their work for you;
typically, this option is available as an add-on to your existing landlord insurance cover;
Loss of rental income (optional)
your buy to let business relies upon a constant stream of income from rents;
this may be disrupted if a major insured event leaves the building temporarily uninhabitable and it is common for buy to let insurance to provide compensation for any resulting loss of rental income.
What you need to know when buying cover
It is important to know that buy to let insurance is different from the standard home building and contents typically arranged by an owner occupier of their own home.
The use of the property is different – and, therefore, creates different risks and perils when the premises are occupied by tenants. Your role as a landlord is essentially that of a business investor.
These are the reasons for your needing a specialist form of cover provided through buy to let insurance.
Why choose us?
At UKinsuranceNET, we understand the important and sometimes complex role of the landlord of buy to let property. This helps us to make sure that we identify the policies suitable for your particular and individual needs and requirements – with quotes designed to look after the bottom line of your business by being competitively priced.