If you have a buy to let property, trying to make do without buy to let property insurance may turn out to be a big mistake.

Specific landlord buildings and contents insurance may make all the difference to the success of your business should something go wrong.

If you have let property buildings insurance for landlords, you may find that you have financial cover for damage arising from things such as:

• fire and smoke;
• flooding and storms;
• earthquakes;
• subsidence (while we offer this cover as standard, this may not be a standard part of policies from other buy to let insurance providers).

The financial help provided may typically range from things like repairing broken windows right up to the complete rebuild of your property in the event that this was necessary and the amount of your insurance was adequate to cover the costs.

Having let property insurance to fall back on may mean that you can get on and get repairs carried out far more quickly than if you were having to rely on your own resources.

If your tenants have had to move out due to an insured risk, then some policies may compensate you for loss of their rental income whereas without buy to let insurance you may need to accept that loss as well.

Buy to let building policies may also typically include third party liability cover. This would provide you with financial protection against damages awarded against you by a court if your property was found to be responsible for injury to a third party or damage to their property. This could also cover some forms of legal fees.

Leaving your belongings in the care of someone else may be a potential source of worry for any landlord. Even if these are not particularly new, having to replace them might mean you having to find a substantial sum of money.

Contents insurance, either on a new for old or market value replacement basis (typically decided on the value and condition) could make all the difference.

The rental income from your letting property may form a substantial part or your overall regular income. Keeping that income flowing after a disaster may be just that bit easier if you have a suitable let property insurance policy.