Despite the ups and downs of the market, many people like buy to let investments because they can see and feel the bricks and mortar in front of them. Getting the keys to the front door is an exciting moment, as is getting your first payment of rent. But the less exciting jobs involved in being a landlord also have to be attended to. So when you are choosing let property insurance, which issues are important, and which are merely small details?

The cover

It’s easy to assume that similarly priced policies must cover the same risks, but this may not necessarily be the case. Let property insurance typically covers damage caused by a number of structural risks, including:

• storm;
• fire;
• flood (depending on where the property is);
• plus the contents (if applicable).

The real differences between policies can often be found in the financial part of the cover. For instance, some insurers may cover loss of rent where the loss is caused by an insured peril. So if the worst happens and your property burns to the ground in a fire, your tenants cannot live there and will not be paying you rent. Not only do you need buy to let buildings insurance for the rebuilding costs, but you also need to cover the amount of money that you would lose in rent – especially if you have a mortgage on the property.

Also, the extent of legal expenses cover (which is often available as an optional add-on) provided by insurance providers varies widely so always check exactly what is on offer.

The service

If you need help choosing a let property insurance policy, we are easily available online for guidance on what may seem to be a complicated issue. On the other hand, sometimes there is nothing like talking through the details with a “real” person, in which case please pick up the phone and give us a ring!

Our staff are professional, friendly and knowledgeable, all of which may help when you are making an important decision like choosing landlord insurance.

The price

Finally, given that your buy to let property is primarily an investment, the price of the cover will be an important element to take into account. No claims discounts may be available, as well as multi-property insurance, so do make sure that you are getting as much bang for your buck as you can!

Also, if you are stickler for safety and security, always mention this to your provider. You might get a discount on your let property insurance for having the latest locks and alarms installed.