Landlords Property Insurance
What is this?
This Insurance is a policy which is intended to meet the cost of repairing or rebuilding your let property in the event of damage or destruction. If you have a mortgage on a freehold property, the lender will insist that his interests are protected by making sure that the policy will meet the full rebuilding costs. If your property is held on a leasehold basis, the lender may want to see a copy of the policy held by the freeholder. In addition, you can protect the value of any possessions also included in the let by either taking out a separate Contents Insurance policy or having a combined Buildings and Contents Insurance policy. Insurance premiums for tenanted properties tend to be higher than those for owner-occupied properties.
Who is it for?
These policies are only available to landlords on let properties. Some policies are intended for portfolio landlords.
Who is it not for?
The policy cannot be used to protect your residential property. Tenants cannot insure the property but they can insure their own possessions through ‘Tenant Insurance’.
