Sometimes, let property insurance and its associated terminology can be a little confusing.

We are always only too pleased to help clarify any uncertainties you have, which is why we have given here a few summary points by way of overview.

• If you are renting out a property or even part of a property you’re still living in, you cannot protect that property through standard owner-occupier home buildings and contents insurance.

  That’s because your risk profiles are significantly different.

• Your risks as a landlord are different for several reasons, not the least of which arises from having tenants. For example, if one of them has an accident on your property, then you may be sued.
• That’s why cover that provides good third-party liability insurance protection as well as help with some components of legal costs (you may incur such costs even if you win the case) may be a good idea.
• Your property is not only an asset but also a source of income for you. Let property insurance recognises that fact and some policies offer to cover some elements of lost rental income in the event your property is out-of-action following a problem caused by an insured risk.

  There is typically no equivalent of this risk and cover in the case of a traditional owner-occupier insurance policy.

• If your property is unoccupied for a period of more than 30 consecutive days, then your landlord policy may become invalid due to the higher risks associated with empty property. It doesn’t matter if it is furnished or completely empty and not even in a state where it could be occupied.
• You can protect yourself against this possibility by taking out unoccupied property insurance. Once again, we would be only too pleased to offer further advice on this.
• Remember that if you have a buy-to-let mortgage or are seeking one, the lender may insist upon seeing that you have appropriate landlords insurance cover in place.

Your property probably constitutes a huge investment of your capital, time and emotional energy. It also generates income for you.

Protecting all of that that through the most suitable let property insurance possible may be only commonsense.