Buy-to-Let Residential Insurance
Table of Content What else could property investor's insurance cover? Property Usage Why do I need buy-to-let insurance instead of home insurance? How much is a home insurance premium? How To Choose Your Homeowners Insurance In the worst scenarios, tenants end up paying hefty legal costs to the extent that it may cause bankruptcy. No, landlord insurance is not compulsory, although lenders may demand buildings insurance as a mortgage condition. The only compulsory insurance for landlords is employer liability cover, which is needed if a property business has one or more employees. The rebuild cost of your property only covers the raw cost of material and labour to rebuild your home, so it may be lower than its market value. If the property is a flat within a block, buildings insurance will usually be part of a shared block policy, which you'll pay for as part of your service charge. Adding multiple properties and loss of rent are all critical factors to consider before s...