25 Oct

Specialist insurance essential for buy to let landlords

Specialist insurance essential for buy to let landlords

It is essential that buy to let landlords opt for specialist landlord insurance over a standard home insurance policy, it has been claimed.

According to Hazel Rees, an account manager with leading insurance brokers Rawlins, in many cases home insurance does not provide adequate cover for buy to let properties.

This could leave landlords facing expensive bills to cover damage to the property and legal costs - both of which are included in cover for landlord insurance, she added.

Furthermore, Ms Rees said landlord insurance provides cover for mishaps such as "a tile [falling] off the roof" and the tenant then suing for "injury or damage" - and will also provide for "legal expenses if you need to evict your client…and rent recovery as well".

Ms Rees' comments come as the popularity of buy to let mortgages continues to increase, with figures from the Council of Mortgage Lenders showing that 171,800 buy to let mortgages were taken out in the first half of 2007.


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