What your buy to let insurance quote may and may not include

March 16, 2012

Landlords Insurance

You may find that a typical buy to let insurance quote may:

  • include landlords buildings insurance for the physical structure of your property and if you require it, contents insurance also – it may also provide cover for third party liability;
  • you may also find your landlords insurance quote might also include some components of cover that may best be described as supplemental – included in that category may come things such as elements of legal cover and loss of rental income protection, however, note that this type of cover may typically come with specific conditions attached to it (e.g. loss of rental income protection may not cover situations where your tenants have absconded leaving unpaid rental arrears);
  • unoccupied property insurance may not be included in a typical quotation of this type – this form of cover may be required if your property is likely to sit unoccupied for periods in excess of 30-45 days or so (reasons may include delays in new tenants moving in, renovation work over running or a property being forced to stay empty due to legal disputes such as probate or divorce proceedings etc);
  • property insurance typically may also exclude damage due to neglect, a failure to maintain the property appropriately or normal wear and tear – however individual policy terms and conditions may vary considerably on these points and should be read carefully;
  • some policies may positively exclude certain categories of natural risk – perhaps a relatively common example of this might be those policies that will not cover flood risk (or make it subject to special terms and conditions) if your property sits in an area that has a history of flooding or which is categorised as being highly vulnerable to it (you may be able to check whether a property is in such an area by contacting various local associations, such as the press, the environment agency or local authorities);
  • in the final analysis, any buy to let insurance quote should be read closely – including its terms and conditions, as they may prove important to you in the event of a claim.


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