Your buy to let insurance quote

Thursday 10th May 2012

If you are looking for a buy to let insurance quote then you may already be aware that looking exclusively at the price may not provide you with the cover that you may actually need. 

Your exact requirements are specific to you and finding the buy to let policy that provides you with an appropriate match may involve looking at features of cover such as:

• Is there any provision for loss of rental income that you may suffer if your tenants have to move out of your property while you carry out repairs caused by an insured event like fire or flooding, storms etc? Up to a percentage of the value of the sum you insured your property for may be available;

• What is the position of your landlords insurance quote on damage due to subsidence? Not all policies may offer this as standard, though there are still some that do;

• Are all of the categories of tenant that you wish to let to covered? Some policies may specifically exclude students, DSS or immigrants from cover and that may not be suitable for your requirements if you prefer to let your property to a wide range of different tenant types;

• What are the criteria in your buy to let insurance quote regarding when you may need to consider unoccupied property insurance cover? Typically you may find that if your property is untenanted for an extended period then landlords buildings insurance may cease to provide cover;

• The exact period may vary from policy to policy but may typically be between 30 and 45 days with some policies offering 90 days if your property has been empty since you took out your buy to let insurance;

• Landlords public liability cover, which may provide financial protection in the event that you are sued by a member of the public for damages that they believe your property is to blame for, may vary from policy to policy with some being able to offer up to £5m of cover;

• If you have a number of letting properties, a multi property policy may offer you a cost-effective alternative to having a number of individual policies – not to mention savings in the amount of time that you may have to spend in administration. This type of cover may typically be available to landlords with three or possibly even just two properties;

•    A buy to let insurance quote may be able to provide you with information on all of these aspects and more - and it may help you to make an informed decision.