Buy to let property insurance is a vital safety tool that any buy to let landlord should not be without. Cheap landlords insurance is now readily available and cheaper than ever as a result of the rapid expansion in recent years or novice buy to let landlords renting properties for the first time.
Buy to let property insurance, though not a legal requirement is a practical requirement for any potential landlord. If you rent a property out and have to make a claim, the most likely outcome is that your insurance company will throw out the claim if you are renting the property and only retain a residential insurance policy.
In the worst case scenario if the property in question burnt down, you would potentially not be insured for the rebuild cost if your cover was not found to be adequate.
Many insurance companies now offer specific buy to let policies aimed at landlords seeking insurance. Extra cover such as the period a property can be left unoccupied, legal cover to cover the cost of expenses associated with evicting a tenant may be included in such specialist buy to let cover.
The maturity of the buy to let insurance market now means that such policies can be found by searching the internet in much them same way that normal buildings insurance would be sought. Cheap landlords insurance can often be found by using policy comparison websites that help users sought out the best deals in the market, all at no cost to the prospective buyer.