Investment in buy to let property has seen a notable resurgence in recent years – thanks in no small part to a troubled housing market and to the burgeoning demand for rented accommodation.
If you are looking to take advantage of these market conditions and invest in such property, you also need to consider the importance of buy to let house insurance.
Just as the name suggests, this is the insurance cover which provides protection against the physical risks and perils to which your investment property is vulnerable, and also against some of the liabilities which may affect your financial standing as its landlord.
Buy to let house insurance is quite distinct from the standard building and contents insurance which an owner occupier might arrange for his or her home.
The buy to let property represents a business investment which relies upon the generation of rental income from tenants. And the property’s occupation by tenants throws up a wholly different range of risks and perils which insurers need to take into account.
So different are these risks and perils that if you rely on simple home building and contents insurance for a property that is in fact let out to tenants, you are likely to find any claim you subsequently make is rejected by your insurer.
This is the critical difference you need to know about this specialist form of buy to let insurance when buying the cover. You need to know, therefore, what risks are likely to be included and which might sometimes be excluded from any buy to let house insurance you buy:
If you want advice on the specialist form of cover that is by to let house insurance, you might want to draw on our expertise and experience here at UKinsuranceNET.
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