There are two forms of let property insurance – buildings and contents. Most popular is the let property buildings only insurance for landlords who rent out unfurnished property. This covers you against damage to the buildings of any kind and is absolutely critical for any landlord who has a buy to let mortgage in place (the mortgage provider will need buildings insurance in place to protect the property).
Let property contents insurance for landlords is there to protect anything of value you leave in the property while it is being rented out. So sofas, TVs, computers or even tables can all be covered.
I remember an old friend who was renting a flat out in a major city. He was a proper wheeler-dealer and took on a DSS tenant without reference checks and without any Let Property Insurance. You can see where this story is going already can’t you?
The tenant didn’t pay and had to be evicted. After months of stress and zero payments, he eventually got the tenants removed to find that they had taken anything burnable, including skirting boards, doors, dado rails and burnt them in the middle of the living room for heat, or badness. Either way, without Let Property Insurance (and rent guarantee) he didn’t have any choice but to cover all the losses himself. That’s not good but let that story serve as a lesson for you – make sure you do not turn your property investment into a disaster scene, get competitively priced and fully comprehensive Let Property Insurance by clicking on the quote button now.