Buy To Let Home Insurance

Regardless of whether you have one small apartment or a whole portfolio of property you will require landlord insurance. This also applies to "accidental" landlord i.e. if you have only rented your property out as a last resort because for example you wanted to move but could not sell your home. You MUST change your insurance to

Landlord property insurance.
Depending on the insurance you opt for the landlord insurance protects you against losing your capital investment and can also help protect the income stream you receive through your tenants paying rent.

• A landlords’ insurance policy should cover
• Buildings Insurance
• Contents (optional)

Landlord Buildings Insurance:
The property must be insured against most risks such as flood and fire for the cost or repair or rebuilding. You can get a policy to cover terrorism, subsidence for added security from most insurers. Check the exclusions section!

Despite the media scaring landlords, there are still insurance policies covering properties in an area known to flood.

My own home back in Wales that I have subsequently rented out is on a flood plane and we have been able to insure this.

Remember when your insurers ask you for the value of the property that you give the estimated rebuild i.e. the cost of rebuilding the property should it be destroyed by fire. Not the "open market" value of your property. This figure can be found on your mortgage valuation, normally on the back page.

The amount you have to pay on landlord insurance depends on the location of the property, also whether a semi, mid or end terrace etc. Insurance companies work out a rate to charge the landlord based on the location of the property and then apply it to the amount specified to rebuild the building (which is called the Buildings Sum Insured).