This guide will talk you through what landlord insurance including rent guarantee covers, and why it’s important for landlords with mortgages and buy to let businesses to have it.
Some polices also cover tenants defaulting on their rent payments; you can find a policy like this for a little £45 for a property with a rental income of £450.
The best way to find a policy your looking for would be compare landlord insurance quotes, click here to do that now.
If you’re a buy to let landlord or have an existing mortgage on a property you are renting out to the public, then take this cover if you have a lot of properties and you can't cover rent if you have more than 5 properties sitting there, unoccupied due to fire or a flood disaster and other reasons.
This cover will not pay-out if your property is just lying there ready for a tenant. No, only if the property becomes unoccupied due to a bad accident and the inside is not livable.
Your legal cover can be added to your policy and it’s important for dealing with tenants that don’t pay their rent, or get into arrears. You’ll also need the right solicitors for civil and criminal proceedings.
The cost should be completely covered.
Make sure your premise is fire safe and fitted with smoke alarms.
Pay monthly and spread the costs.
Use a comparison site to find you better prices, like this one.
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