Situations where you may need to consider a buy to let insurance quote

April 30, 2012

Landlords Insurance

If you are considering becoming a landlord you may wonder at what point and under what circumstances, you may need to think about a buy to let insurance quote:

  • if you start letting out a property that you have previously occupied yourself and protected through owner-occupier cover, then you may need to consider that a change of policy is typically likely to be required;
  • if you are purchasing property for the purposes of letting and income generation, then once again you may need to consider landlord insurance cover, as owner-occupier policies will typically not be suitable;
  • any property you are obtaining rental income from, be it a house or an individual flat/apartment in a much larger block, may be subject to the need for landlords cover;
  • if you already have a landlord insurance policy but have held it for some time, it might be prudent to conduct a quick landlord insurance review and possibly obtain some additional quotations.  This may help you to ensure that your existing policy is still competitive;
  • if you are letting out a property that is furnished, you may need to consider landlords contents insurance as well;
  • it sometimes comes as a surprise to some landlords to learn that even if you plan to let out a relatively small portion of a property you also occupy, your owner-occupier policy may become invalid and you may need to consider looking at buy to let cover;
  • if you have inherited a property which cannot currently be occupied due to probate, you may need to consider unoccupied property insurance, as any existing owner occupier or landlords cover may only protect it for up to 30 consecutive days without occupation;
  • a similar situation may apply if a property is standing unoccupied for any other reason, including things such as the resolution of divorce proceedings, new tenants failing to arrive when planned or building and renovation work overrunning etc;
  • given the relative ease of obtaining a buy to let insurance quote, it may not be advisable to put it off too long if you are in any of the above situations.


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