Buy To Let Insurance Covers
Landlords insurance, brought to you in association with Property Risks is specifically designed to address the particular risks faced by a residential landlord (similar covers are sometimes refered to as Buy to Let insurance).
The following provides a summary of cover available at a glance and some of the key benefits.
Premium discounts and cover enhancements are available for landlords who use a recognised Lettings/managing agent, when tenants undergo a PropertyRisks TVcheck and when a signed inventory is obtained.
The covers available are;
Buildings Insurance
- Comprehensive cover for the cost of repairing or rebuilding the property including fixtures and fittings, garages and patios, swimming pools and driveways.
- Limited accidental damage cover is provided as standard (accidental damage to underground pipes and cables and breakage of glass, ceramic hobs or sanitary ware only). Full accidental damage cover can be provided as an option for an additional charge.
- Trace and access cover up to £5,000 for the cost of locating, removing and replacing any part of the buildings necessary to repair a leaking water or heating system
- We automatically cover the costs of replacing your trees, shrubs, plants and lawns up to £1,000 if damaged by risks such as fire, vandalism and theft
- Loss of rent or the cost of temporary alternative accommodation in the event that your tenant cannot remain in the property following an insured peril under the business cover.
- Options for higher excesses
Contents Insurance
- Comprehensive cover for the cost of replacing or repairing your contents
- Contents are defined as 'furniture, furnishings, carpets and household goods' within the building which belong to you or which you are legally responsible for. It does not include valuables or items such as TV's, videos, computers etc.
- Landlord's Content's cover is available from £5,000 up to a maximum of £20,000
Legal Liabilities
- Cover for your legal responsibilities as landlord, up to £2,000,000 limit of indemnity, arising from death or injury to third parties or danger to third party property and happening in or about the insured building.
- Includes legal liability to your tenants as occupiers.
- Cover for your legal responsibilities as a landlord employer, up to £10,000,000 limit of indemnity, arising from death or injury to employees and happening in or about the insured building.
Legal Expenses Insurance
- Indemnity for Legal Costs incurred in proceedings against a Tenant or Guarantor where the Tenant fails to perform his obligations set out in the Tenancy Agreement relating to the rightful occupation of the Insured Property. Cover is subject to the completion of a TVcheck or a Four Point Check.
- Indemnity for proceedings for nuisance or trespass against the person or organisation infringing your legal rights in relation to your Insured Property.
- Indemnity for criminal prosecutions brought against you in relation to your Insured Property under the Gas, Electric or Soft Furnishings Regulations.
- Legal advice service available 24 hours a day/ 365 days a year
- Cover only applies in respect of legal costs incurred by Shoosmiths Solicitors, our specialist legal advisers, with the maximum amount payable of £50,000 for any one claim
Tenant Default/Rent Guarantee
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Cover in respect of rent arrears owed by the tenant under the tenancy agreement in cases where you are pursuing proceedings under your legal costs insurance above to evict the tenant
- Cover is available to pay the monthly rent shown in the tenancy agreement up to a maximum of £2,500 per month. The maximum rent payable per claim is £15,000 or the equivalent of six months rent whichever is the lesser amount.
Emergency Assistance
- Up to £500 of cover for those essential repairs. Immediate support and help in the event of a real time domestic emergency at you insured property. Simply call the emergency helpline to obtain immediate advice and arrange for suitable repairs carried out by a qualified tradesperson from our national network.
- No excess applies for Emergency Assistance.
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If you have any further questions you wish to ask us please request Help & Advice online or phone 0845 675 0045.
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