Let property insurance is a type of insurance that doesn’t need any explanation due to the name itself but I doubt this term is used as much as it should be. Instead we always hear landlords insurance being mentioned or buy to let insurance. Okay, so I will clarify the obvious anyway in that let property insurance is insurance cover for a property that is let to a tenant. The more popular terms don’t clarify this.
Landlords insurance can be anything to do with a landlord. Insurance for their property, insurance for their rent, insurance for their legal disputes. The thing is, when a customers asks for landlords insurance, 99% of the time they are after insurance for their property but this is not necessarily clear.
The use of the term buy to let insurance also falls into this category. For a start, buy to let is simply a phrase describing the fact that the property has been purchased to let out. It is in no way describing what is to be insured unlike obvious examples of car insurance and home insurance.
I think that let property insurance should be used as much as possible as this is unambiguous in its meaning with the only clarification needed being whether it is for a residential or commercial let property. There is no major purpose for this blog post really other than to make you aware that certain terms are very unclear in their meanings. In your head you are asking for one thing and in the insurer’s head it may be another. This sort of confusion can lead to being uninsured for something you thought was covered so it is always best to check carefully and maybe use a different, more precise term to clarify exactly what you want covered.