IF you own a let property then you will need Rental Property Insurance. This is the same as landlord insurance or let property insurance and is both widely available and cheaply available in the UK. The Property Insurer can help you to get the best policy at the lowest price through comparing the leading UK providers.
Rental property insurance is for freehold landlords – property owners. If you are renting then you will not need this, instead you will need tenant contents insurance only as you cannot insure the building.
So Rental Property Insurance is the same as buildings insurance. It protects the actual building itself against financial loss. So if a fire razes the let property to the ground, then your insurance will pay for it to be rebuilt less any excess you agreed.
Similarly, if you suffer a break in and damage to the windows/doors will be covered by the insurance. Any contents inside the property that the landlord owns can be insured as well, but these tend to be low value or not included at all. Most of the contents will be owned by the tenant and it is their responsibility to insure these.
A key benefit of Rental Property Insurance for landlords will be the cover offered when the property is left vacant. Unoccupied insurance can cost a lot of money but is normally given for a set period with any let property policy. Most landlord policies do this because they understand that rental properties will go through void periods while waiting for tenants to occupy them.
Most policies will give at least 30-days, some up to 60-days as standard. It’s worth noting that you cannot normally start a policy with a vacancy period, in those cases you’ll need unoccupied insurance and The Home Insurer can help if you need that.
Go to The Property Insurer and click on the Landlord Insurance button. Read the advice and watch the video if you like, it may help you reduce the cost with a few easy things to do.
Or simply hit the get a quote button and fill in the short form that takes about 2-minutes. It will get three of the best UK insurers fighting to deliver your policy at the best price possible. Compare and buy as you see fit.