Landlords Insurance - Buy to Let Insurance

Due to huge increases in property prices over the last decade and with them still increases at a great rate, it is becoming harder and harder for first time buyers to get into the property market and buy their first home.

Property investors have taken into account this change in the markets and this has lead to the dramatic rise in the buy to let area.

With the UK having a problem with housing shortages, we are seeing more and more new costs effective properties being built year in year out. These are property such as new housing estates and modern apartment blocks.

Properties investors in the UK are buying up these apartment blocks to rent out hoping to make some financial returns on their residential buy to let property investment.

As an investor in a residential buy to let property, you will actively be seeking a tenant to put into your property as to make this financial return. However, whether you are actively looking for a tenant or already have a tenant in your flat / buy to let property, it is essential that you have sufficient landlords insurance to cover all your requirements and needs.

Most companies have a standard landlords insurance package that we believe to cover all your needs as a landlord for this type of residential buy to let property. The package has been designed for those who have invested into a modern flat in new apartment block or generally any flat who plan to who plan to rent out the flat or apartment.

When doing this we understand it is important to make sure you are covered from all angles. So the package that we sell covers you for contents and legal liabilities.

With this type of residential buy to let property it is usually that the freeholder of the building will have already paid for some sort of standard buildings insurance. It is most important that as a landlord and as this type of property owner you find out whether the building has been already insured or not.

The package that we offer will:

• Cover the landlords’ contents up to £10,000.00 (which came be increased if required resulting in the premium increasing slightly).
• Cover accidental damage on the landlords contents.
• Legal Expenses (these include breach of tenancy agreement, rent arrears pursuit, eviction cover, legal defence, legal helpline and TAX, NIC, VAT, & PAYE investigations).
• Loss of rent due up to 20% of the contents sums insured.
• Will pay any money due as a result of being legally liable to pay as compensation for accidental bodily injury to a person or loss or damage to property up to £1,000,000 or as stated on the policy schedule.

This specially tailored package will insure the landlords contents against loss or damage from standard perils such as: Fire, Explosion, Lightning and Earthquake, Smoke, Riot, civil commotion, strikes, labour or political disturbances, Malicious Acts or Vandalism, Storm or Flood, Water or oil escaping from any fixed domestic appliance or system including any costs in locating the source of any escape, Theft or Attempted Theft, Impact by road or rail vehicles, aircraft or animals and Subsidence, Landslip or Heave.

When looking for landlords or any other type of insurance be fully aware as to what your are purchasing. Ask for copies of the quotations or policy key facts to make you sure you understand what the policy covers and excludes and all of the terms, conditions and warranties