Cover4LetProperty offers a quick and easy online quote and buy service from some of the leading landlord insurance companies in the UK, giving you the peace of mind that your cover is provided by a reputable, trusted company. We have long standing relationships with our insurers, which has enabled us to secure exclusive deals with them – ensuring you get the most cost-effective yet comprehensive protection available.
In addition, we have made sure that our insurance cover is all encompassing but does not provide you with expensive add-ons that you do not require.
Some examples of the policy benefits of our let property insurance include:
- quotes from multiple insurers, giving you choice and flexibility
- prices from £88.00
- subsidence and trace and access cover included– not all insurers provide this as standard
- loss of rent cover and alternative accommodation costs
- the ability to get a quote and buy online immediately
- cover for malicious damage by tenant included at no extra cost
- commercial and residential cover available
- optional accidental damage cover
- no restrictions on tenant type.
- 1 Why Cover4LetProperty?
- 2 Further reading
Our service is easy to use – landlord insurance quotations are displayed clearly and highlight the major benefits or exclusions for the quoted let property insurance company. You can view the policy summary and key facts documents and easily see the policy excess which is being offered – all this equates to helping you choose the most appropriate insurance solution for your own unique needs.
Alternatively, if you would rather speak to an expert and / or get a quote, then please do ‘phone us on 01702 606301, and one of our friendly and professional team will be more than happy to help.
We are a reputable insurance provider, regulated by the Financial Conduct Authority and registered in England, and our aim is to provide quality, cost-effective insurance cover backed with a first-class customer service,
Buy to let insurance FAQS
Following are some of the frequently asked questions we receive on landlord insurance. If you have any further questions or would like an insurance quote please do not hesitate to telephone us on 01702 606301. Please also browse our website for useful guides, tips and information relating to property.
What does landlord insurance cover?
Any property owner is likely to have an interest in protecting that asset with appropriate insurance. This is no different for the buy to let landlord, who is interested not only in the protection of the structure and fabric of the building, but also additional risks and perils which may threaten the business itself. So, what elements of cover may you expect to see in this type of policy?
Apart from insurance for the buildings, fixtures and fittings and, if required, the contents, there are other important elements to consider including but not limited to:
Loss of rent – if a major insured event leaves your let property temporarily unusable by tenants, you stand to lose the rents you otherwise collected or have to find them alternative accommodation elsewhere. Loss of rent cover provides compensation for loss of rental income, or the provision of alternative accommodation, up to set limits.
Malicious damage by tenants – depending on the types of tenant you may have – and even with the most careful selection procedures in place – there may be a risk of tenants causing deliberate malicious damage to your property or its contents. Not all landlord insurance policies provide cover against such risks (ours do!).
Landlord liability insurance. Do you have suitable and sufficient cover against claims alleging your negligence as a landlord and property owner? You owe a duty of care – not only to your tenants and their visitors, but also your neighbours and other members of the public – to make sure you have taken all reasonable precautions against their being injured or having their property damaged in some way connected with the property you own. Indemnity against such risks is typically provided by landlord liability insurance – at least £2 million of indemnity is generally considered a minimum.
Will my normal home insurance policy cover my let property?
No. This is arguably one of the most important aspects to grasp about being a landlord.
If you are using property for the generation of any sort of rental income, however you may think about yourself, the insurance industry and other various legal bodies will consider you to be a landlord.
Typical owner-occupier buildings and contents insurance will never be valid for a property being used for letting purposes. In other words, you must have policies that recognise the nature of the use of your property and those policies are generically referred to as landlords’ insurance.
There are two situations which occasionally confuse some of what might be termed informal landlords into thinking otherwise:
- where you are only letting your property for a few weeks each year – for example during the holiday season;
- in circumstances where you remain permanently resident in the property but are letting a part of it out to someone else.
You should note that typically, these types of circumstances will make no difference at all to your insurance provider. You will still be earning rental income from your property and that will invalidate any existing owner-occupier cover you have in place.
This isn’t just a question of designation.
If you have an owner-occupier mortgage, you should seek the permission of your mortgage lender before starting to use your property for rental income generation. Once you have obtained their permission, they will continue to demand that you maintain full insurance cover for the buildings in order to protect their interests.
If you fail to do so you may be in breach of your mortgage agreement and to avoid that you will need to take out landlords’ insurance.
Are all landlords insurance policies the same?
No. Please note that insurance for landlords’ policy features, terms and benefits vary depending on the policy provider, so not all buy to let property insurance policies will include all the same elements as standard.
How much is landlords insurance?
If you are wondering how much landlords insurance is, then it may help you understand how the insurance premiums are calculated. Insurance companies assess risks in different ways depending upon the risks concerned and that will affect your landlord insurance quote.
The following may influence the cost of your landlords insurance:
- where the let property is located – all let property insurance companies use postcodes to assess this risk. A number of areas for example, with high crime rates, or in flood areas will affect the let property insurance premium or possibly the excess (the excess is the first part of any successful insurance claim that you are liable for);
- the sums insured – rebuild or reinstatement costs can increase let property insurance premiums if they are estimated. If the property is listed building or in a conservation area, it is exceptionally important to have the correct building sum insured for your let property insurance;
- the year your property was built could possibly influence the let property insurance premium, as older building materials and standards of construction have a chance of being a higher risk for let property insurance companies.
If your property has factors that may attract more claims – for example, the property is in an area where there is known flooding – or you have a previous high claims history; then it is likely that your cover will cost you more or certain elements of the insurance cover excluded.
Do I need landlord insurance?
If you have a mortgage, then typically under the conditions of your agreement, you must have adequate buildings insurance in place at all times. failure to do so could see your mortgage lender ask that you repay the whole loan amount back in one go.
It is also important to note that the ordinary home building and contents insurance typically arranged by the owner-occupier of a dwelling will not suffice. This is because let property faces different risks and perils to those of a home occupied only by its owner, and the insurance needs to reflect this difference in use. This is an especially important consideration because if you are relying on regular home insurance for an owner-occupier but are in fact letting the property, any subsequent insurance claim might be rejected by your insurer.
If you do not have buildings insurance and something happens to the property, or a claim is made against you by a visitor to the premises, then you will have to cover any associated costs out of your own pocket.
What insurance do I need as a landlord?
When you think of let property insurance, your mind may immediately jump to structural issues, so buildings insurance. But you may wish to consider any items of yours that form the contents at the property. This may be particularly true if you let to students or own a House of Multiple Occupation.
You’ll also need to think about unoccupied property insurance for landlords for void periods or tenants’ holidays that extend over the typical 30-45 consecutive days’ cover usually included as part of your property insurance. (Please read our Guide to unoccupied property here for further information).
Landlord insurance typically covers most of the standard risks faced by a landlord, but you may also wish to consider employers’ liability cover (for example, to cover people who work on your premises such as a cleaner or gardener).
Don’t forget to check out our full range of guides on this website, as well as read our useful articles and property and landlord tips.