Buy-to-let Insurance Advice

Most BTL mortgages require the landlord to take out BTL insurance. Although not legally mandatory, not having insurance opens the landlord up to serious risk of financial ruin. Speak with one of our insurance advisers for personalised advice and read on to learn more about buy-to-let insurance.

What is buy-to-let Insurance?

Buy-to-let insurance is a type of insurance policy available to landlords. When renting a property out, using standard residential insurance is not suitable and buy-to-let insurance is required. This insurance will protect landlords from a myriad of risks associated with rental investments.

What is included with buy-to-let insurance?

Both standard residential insurance and buy-to-let insurance usually include building cover and may or may not have contents insurance included depending on if the property is rented as furnished or unfurnished. Even when it is unfurnished, contents insurance may still be applied to cover white goods and kitchen appliances.

The main difference between BTL insurance and residential insurance is that the former protects the landlord in the event the tenant is injured or even killed due to a fault with the property, such as a faulty electrical system. This is known as property owner’s liability cover. Without this cover the landlord may have to compensate the tenant with a significant amount.

Different kinds of BTL Insurance products

Landlord BTL insurance can be adapted for different circumstances and levels of investment. You can choose to take out individual cover for each rental investment you hold, but it is usually more economically beneficial to take out BTL insurance that covers multiple units and properties. It’s even possible to take out insurance against a whole block of flats, which may be suitable for developers and commercial outfits.

Optional extras that you can add to your cover

Contents insurance and accidental damage are the most common extras added to BTL insurance. Other possible extras include:

Loss of rent cover – insurance that will pay you any unpaid rent, providing additional financial security.
Tenant theft and malicious damage – cover to replace or fix any purposeful damage or theft caused by tenants leaving the property.
Alternative accommodation – this cover provides you with the money to pay for alternative accommodation for tenants if the rental property needs to be evacuated for a short period.

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Why do I need buy-to-let insurance?

Buy-to-let insurance is essential for landlords who have tenants in their property. Not only will it protect them from damage to the structure of the building which can be significant to repair or even rebuild, but it protects them against tenant compensation claims. Both events could cause financial ruin and BTL insurance makes sure landlords are protected.

Why use an adviser to find buy-to-let insurance?

Use an adviser to search and apply for the most appropriate buy-to-let insurance based on your rental investments and preferences. Using a trained professional can help you secure the most suitable deal and even help you save money on insurance payments in some cases.

Reach out to one of our buy-to-let insurance advisers to discuss your insurance options. We have advisers from Poole to Eastbourne and back across to Norwich, Bournemouth and the South East, and help clients throughout the UK. Our friendly and patient team are here to assist you.