What is landlord buy-to-let insurance?
Being a landlord carries risks. You need to insure your buildings, as well as your contents in furnished properties. Standard home cover isn't enough to cover these risks. You need insurance that covers you to rent out the property to tenants.
This is where buy-to-let insurance comes in. Covering buildings, contents and loss of rent, your landlord policy helps you to confidently let your property.
Buy-to-let insurance also covers property owners’ liability. This offers cover for claims raised by tenants, visitors to the property and any employees you have.
Gallagher can cover property housing most types of tenants including DSS, students, asylum seekers and professionals. We can also look at a wide variety of property types too - flats, houses, maisonettes, converted buildings or purpose built
All property types considered
Including listed buildings, flood-risk, previous subsidence issues or standard
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Experience dealing with many property types
We speak with many property owners every week - we can help you with your renewal
Can I cover multiple buy-to-let properties on one policy?
Yes – if you own several buy-to-let properties, we can cover them all in one policy for you. This helps you keep the costs down, as it generally becomes less expensive per property the more you add to your policy.
It can also help with budgeting, too. It is possible to place multiple properties into a single renewal with a common renewal date.
What’s more, Gallagher allows you to combine residential and commercial property in one portfolio. So, if you own a shop or small office and have a buy-to-let portfolio, you can bring them together in one place.
I only own one buy-to-let property. Can you help?
You may only own one buy-to-let property. For example, you might be one of the increasing number of ‘accidental landlords’. Or maybe you’ve bought a buy-to-let property for the first time.
Can you cover HMOs?
Yes, we can. Take a look at our HMO insurance cover for more details.
Anything else I should consider when letting out buy-to-let property?
Make sure your tenants are handed all certificates and documentation when they first arrive. If they are aware of your eviction procedures, for example, it can save you a lot of time later if you run into problems. Delays occur when tenants say they aren’t aware of information – so give them as much information as you can upfront.
Getting a quote from us is easy. The most important things to consider are when getting a quote are:
- The location of the properties you own.
- The type of property.
- The rebuild cost of your property. Surveyor’s reports will tell you this information. Alternatively, use a free tool like the ABI Public Rebuild Calculator to work out the rebuild value for you. You need to register, and you are limited to a handful of calculations each year – but it’s simple to register and use.
- The cost of any contents you wish to cover. Some insurers will cover carpets as part of contents cover, while others will include them under buildings. Consider the cost of refurnishing your property. Speak to us if you need assistance in getting the right level of contents cover for a buy-to-let property.
- The type of tenants occupying your property.
Give us a call and we’ll guide you through the process. We offer quick turnaround on quotes from our panel of insurers.
Get a quote over the phone
Speak to an expert, call 01625 855032
Frequently Asked Questions
What happens if I run my own business from a property?If you own a property and run a business from it, you can get commercial combined insurance cover for both your business and your property. Contact us for more details.
Are there different levels of property insurance?With buildings insurance, you will need to know the rebuild cost of the properties you insure. You will also need to value any contents you wish to cover. You can pick and choose whether you want buildings and contents cover for one property and only buildings cover for another, for example. These factors will help to determine how much insurance cover you need, and the cost of cover.
Can I combine personally owned property with company-owned or partnership-owned properties?It is not possible to combine property with different ownership under one policy, though you can combine commercial and residential property in one policy if the ownership is the same.
What property can be covered under a property owners’ insurance policy?Property can include everything from storage units to warehouses, factories to shops and offices. Even more unusual properties such as churches or a chapel of rest can be covered – just ask us for a quote and we’ll do the rest.
What is property owners’ insurance?Property owners’ insurance provides cover for commercial or residential property. To make life easier, you can combine both types of property in one policy. You will normally arrange cover for your buildings and can add contents cover, too. Property owners' insurance makes it cheaper and easier to look after your policy. Instead of insuring individual properties, you can add them all to one policy. Generally, the more properties you add, the cheaper it is to get cover for each one.
Please note that these Frequently Asked Questions are not a substitute for the policy wording.