As a landlord or buy to let owner you’ll probably know that normal household insurance just isn’t suitable for the risks associated with renting out your property to tenants. What you need is Buy to Let insurance.
Being a landlord of one property or owning a residential portfolio and renting out multiple properties to tenants can be profitable business and in an ideal situation, every landlord would have perfect people to let their properties to; clean, tidy, professional and responsible. However, things can very quickly become a very costly opposite when things go wrong. Without suitable buy to let insurance you could be out of pocket and in serious financial trouble in the event of an expensive accident such as structural damage to your property due to fire, escaped water or burst pipes.
What is Buy to Let Insurance?
Let Home Insurance from InsuraHome is a specialist home insurance policy for landlords or buy to let owners when renting a property to tenants. It is different from a standard home insurance policy because it covers the risks associated with renting a property that are not covered in a standard home insurance policy. As you may know, even with dream tenants, things can still go wrong. That’s where an InsuraHome Let Home Insurance policy comes in to protect you and your rental property from accidental damage, liability, loss of rent and much much more!
Buy to Let Insurance is Available for:
- Landlords and Buy-to-Let Properties
- Clean and Non-standard Risks
- Property Portfolios up to £15 million Total Sum insured
- Landlords with Adverse Claims History
- All Tenancy types and agreement lengths considered
Let House Insurance Includes Cover for a Number of Perils:
- Fire, Lightning, Explosion or Earthquake
- Storm, Flood or Weight of Snow
- Escape of Water or Frost Damage to Fixed Water Tanks, Apparatus or Pipes
- Theft or Attempted Theft
- Subsidence or Heave of the Site on which the Buildings Stand or Landslip
Key Benefits of InsuraHome’s Buy to Let Insurance:
- Buildings Insurance with Accidental Damage Option – Minimum Sum Insured £75,000
Covers the costs associated with repairing or rebuilding your property if it’s damaged or destroyed. Buildings includes the home itself, any fixtures and fittings, swimming pools and much more.
- Landlords Contents with Accidental Damage Option – Minimum Sum Insured £10,000, if Contents Insurance taken
Covers household goods and personal property within the home which belong to or for which you are legally liable for. Landlord contents include furniture, carpets, curtains, blinds, domestic appliances and more.
- Accidents to Domestic Employees (such as Cleaners) up to £10,000,000
If you employ someone to work at the property such as a cleaner or a gardener, this section of cover protects you against claims for bodily injury from an event at your property.
- Legal Liability to the Public up to £5,000,000
Liability cover is designed to project you in the event you are found liable for bodily injury or damage to property caused by an accident happening at the premises.
- Landlords Legal Expenses
- Rent Guarantee Option
Click here to see the full InsuraHome Buy to Let Insurance Policy Wording for the full summary of buildings and contents covers as well as optional covers.