Some insurance policies may have certain conditions attached relating to who you can and cannot let your property to.
For example, some policies may specifically exclude certain categories of tenants like students, DSS, immigrants and so on.
While this may be perfectly acceptable for some landlords, there may be others and you may be one of them, who may find this condition to be restrictive – impinging on your freedom of choice to let your property to whomsoever you choose without the added overhead of seeking out new landlord insurance at the same time.
There are, however, some buy to let insurance providers though who impose no such restrictions and who make no such distinctions, supplying cover for DSS tenants as well as for the other categories where restrictions may also apply.
For example, at Cover4LetProperty you will find that we cover all tenant types as well as offer a range of policies and add-on elements providing:
- cover for subsidence as standard – a serious problem that is not nearly as widely covered as it may once have been;
- malicious damage by tenants – perhaps not something that you may have come across before but it does happen;
- compensation for loss of rental income (up to pre-set amounts) if your tenants have to move out to alternative accommodation while repairs are carried out on damage caused to your property by an insured event (fire, flooding, storms etc);
- trace and access cover which protects you financially in situations where you may otherwise be facing the repair costs relating to damage that a tradesman may have caused locating and fixing another problem.
As a landlord you may wish to avoid what could be the nasty surprise of finding that your choice of tenant had invalidated your existing insurance, so opting for a policy where no such restrictions exist may just simplify things by removing something else that you need to remember.
On a similar theme though, you may wish to ensure that you fully understand your position with regard to unoccupied property cover.
You may find that typically policies will have a time limit on the number of days (typically 30-45 depending on the policy) that your property can stand empty before your standard buy to let cover becomes invalid and you may need to consider unoccupied property insurance.