We have provided the following resource to answer some of your common questions about landlords insurance. To see what cover we can provide you and how cheap our premiums are then please use the link opposite to obtain a quick and simple online quote.
What is Landlords Insurance?
Landlords insurance is a term used to describe a policy taken out by the owner of a let property to protect their financial losses. It is most commonly used when referring to the building insurance cover on a property that is let to tenants but can also be associated with the other types of insurance that a landlord may take out such as contents insurance, legal protection insurance, rent guarantee insurance and home emergency cover. Sometimes it is also called buy to let insurance or let property insurance but most of these phrases all mean the same.
What does Landlord Insurance Cover?
A landlords buildings insurance policy will usually provide similar coverage to a normal home buildings insurance policy so the property itself would normally be covered for perils such as fire, explosion, storm, flood, theft, subsidence, etc. With landlord insurance, the policy is normally more comprehensive and will also provide extras such as loss of rent or alternative accommodation if the property becomes uninhabitable and property owners liability to protect against possible injury or damage sustained by the tenant or members of the public. A really important peril to look out for is malicious damage by the tenant cover. If you are searching around for quotes you will find that a lot of landlords policies fail to give this cover or will charge extra to have it but most of the insurers that we use will include this automatically at the same low cost price. Another great reason to choose Ashburnham Insurance as your landlord insurance broker.
Landlords contents cover will protect any contents that the landlord leaves in the property. These could be things such as carpets, curtains, furniture, electrical items, etc. Once again they usually be protected by all the standard perils you would expect from a home contents policy. It is important to remember that only that landlord’s contents can be insured and the tenant would be expected to arrange their own separate policy for their possessions under a tenant’s contents insurance.
Legal protection, rent guarantee and home emergency cover are all extra covers that a landlord can take out. Legal protection is to provide financial assistance in any legal dispute that may arise from you owning and letting out your property. Rent guarantee will provide protection for your rental income if the tenant defaults on their payments to you and home emergency cover will provide assistance when required for certain emergency issues such as an urgent plumbing or heating situation.
What type of tenants/properties are acceptable?
We cover all types of freehold, leasehold and tenancy arrangements including mixed use properties and houses in multiple occupation (HMOs). All types of tenants are acceptable including professional tenants, working tenants, DSS tenants, benefit recipients, students, asylum seekers, council tenants, company lets, retired people and also arrangements with friends and family members. We provide cover for both residential let properties and commercial let properties including houses, shops, offices, house conversions, flats, block policies, portfolios and listed buildings. We can also cover short term unoccupied, long term unoccupied either before or between lettings or even if you are looking to sell the property.
How can I get a quote and take out cover?
We have a unique quick quote website that allows you to compare landlord insurance quotes from leading UK insurers to find the cheapest deal and best cover for you. A policy can be purchased online or over the phone and documentation can be provided immediately via email which is handy if you need to show proof of cover to your mortgage provider. Use the button opposite to begin your quotation now.