​​Buy-To-Let Landlord Insurance.

The cost of your policy will depend on your property and tenants, the type of insurance you choose, and the coverage levels you need.

As with all insurance, the insurer calculates your premium (the cost of your insurance) based on the likelihood you’ll make a claim and the possible cost of any claim.

The amount of buildings insurance should be based on the rebuild value of your rental property including labour and materials.

The contents insurance amount should be based on what it would cost to replace the contents you provide in your rental property. This doesn’t include your tenants’ items, as they will need to insure these separately.
Landlords typically choose £2 million or £5 million of property owner’s liability insurance, depending on how high possible compensation claims could be.

Tenant default insurance from us can cover your rental income up to a maximum of £2,500 per month.

Legal expenses insurance comes with a cover limit of £50,000.

Premiums can be paid annually or by direct debit.

Depending on the length of time the property is empty, you may want insurance due to risks associated with empty rental properties, such as an increased risk of theft and damage to locks, doors, and windows, specialist cover can be beneficial.

A typical landlord insurance policy provides unoccupied cover for 60 days, if the property is unoccupied for longer than this you will probably need a supplementary policy.

Insurance for a property varies depending on the level of cover, location, previous history of losses/claims etc… such that it may be cheaper or more expensive than insurance for a residential home.

Talk to a specialist broker like Elevate Insurance, where you can talk to an adviser who can help you understand your requirements and approach multiple different insurers for alternative quotes.

Buy-to-let insurance can include accidental damage cover as standard or an optional extra.

Loss of rent insurance covers a landlord not receiving rent because the rental property becomes uninhabitable due to an insured event and tenants need to move out. It may also cover costs the landlord has to pay for alternative accommodation due to an insured event if this is part of the rental agreement.

Rent guarantee insurance provided cover for when tenants stop paying rent. They may still be living in the property or have chosen to vacate the premises before their tenancy is up. There may also be cover for legal expenses in this regard.

Insurance cover against costs the landlord may incur in restoring the premises back to its original condition if tenants alter or change its structure without your knowledge or consent (unauthorised).