Buy to let insurance
- £7,500 contents cover included (when building affected at the same time)
- For self-managed and agency-managed properties
- Underwritten by AXA Insurance.
- Average quote time is only 10 minutes
More information
What is buy-to-let insurance?
If you are a landlord who has bought a property specifically to rent it out then you are probably no stranger to shopping around for the best buy-to-let mortgage. The same should be true of your property insurance.
Although it’s not a legal requirement to have buy-to-let property insurance, your mortgage company may require it and there are obviously several specific risks you face as a landlord when letting out a house.
What does buy-to-let insurance cover?
You need to protect your investment, and normal residential home insurance is just not suited to your situation.
What if there’s a burglary? Or your tenants refuse to pay rent? As well as the buildings and contents insurance, you will need to think about loss of rental income and the risks for which you are liable when letting your property to tenants. Also, remember that any tenants ought to get contents insurance themselves as their belongings will not be covered by your landlords insurance policy, especially if it’s an unfurnished let.
Nowadays house shares are more and more common. If you are letting a property with multiple occupants (one that has three or more storeys with five or more residents), then you will need to obtain an HMO licence from the local council. You must also have extra measures in place when it comes to fire safety, as these types of properties are typically at more risk than a family home.
As a buy-to-let landlord you need to consider the possibility that your property will be left unoccupied for several weeks or even months of the year, particularly if you are renting the house out to students. You also need to think of the impact that tenants can have; as you cannot physically supervise your tenants 24/7 you cannot guarantee that your property will be well looked after. Accidents can happen!
How Homeprotect buy-to-let insurance is different
With Homeprotect buy-to-let insurance, it doesn’t matter what type of property you own, where it is located or even how many residents are living there. When it comes to providing the right level of cover to suit your individual circumstances, we ready to provide a quote.
Does buy to let insurance cover against legal claims by tenants?
If a tenant were to injure themselves as a result of a problem with the property, such as tripping over loose flooring, as the landlord you could be held responsible. In these circumstances, buy-to-let insurance will cover the cost of compensation claims and legal fees.
Will I be covered for loss of rent?
It depends on the reason that you have lost rent. If your tenants have to move out after a fire or a flood, for example, you should be covered for the rent that you lose as a result. It can also cover the cost of arranging alternative accommodation for your tenants.
Homeprotect offers up to £30,000 per claim, on the basis that there is a contract in place clearly detailing the amount of rent due.
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Landlord Insurance Cover Levels
Our landlord insurance is designed to protect your property against insured events such as fire, storm, flood, escape of water, theft, malicious damage, subsidence, landslip or heave.
Buildings cover
Covers the main structure of your home, including attached garages and conservatories, if you need to rebuild or repair it following an insured loss. Also covers permanent outdoor structures such as driveways, patios and boundary walls.
£1 million
(more cover available if you need it)
Contents cover
Covering the value of all your possessions in the home, on a new for old basis. As standard, our buildings insurance provides up to £7,500 of cover for your landlord contents. If you choose to add contents insurance, we provide up to £30,000 as standard.
up to £30,000
Loss of rent
We’ll cover lost rent if your tenants can’t live in the home due to an insured event.
up to £30,000
Landlord home emergency
Covers sudden, unexpected emergencies, such as uncontrollable water leaks, that require immediate corrective action to prevent or limit damage to your home, or make your home secure. Two levels of cover are available, for different types of insured loss.
up to £500
Family legal protection
Covers legal costs following an insured loss. There must be reasonable prospects of winning and the incident must have occurred during the policy term. Two levels of cover are available, for different types of insured loss.
up to £25,000
Trace and access
Covers the cost of detecting the source of a water or oil leak and repairing any damage caused in the process.
up to £10,000
Outbuildings cover
Covers rebuild or repair of your outbuildings (e.g. detached garages, greenhouses, sheds and summerhouses) that are within the boundary or a communal area you’re legally responsible for, if you need to rebuild or repair them following an insured loss.
from £20,000
Liability cover
Covers damages and claimants’ costs and expenses for your legal liability in the event of accidental death, injury or illness to a third party, or damage to property belonging to a third party.
up to £5 million
Landlord Legal Protection with Rent Guarantee
This is optional cover, tailored for landlords, which replaces the Family Legal Protection which is included as standard. It provides a 24/7 legal advice helpline and up to £50,000 cover for claims relating to the letting of your property including repossession, property damage, recovery of overdue rent and payment of rent arrears during an eviction process. Protection provided only when more than a 50% chance of recovery.
Optional
Accidental damage
Covers sudden, unexpected and unforeseen events around the house (e.g. spillages or breakages) that result in physical damage and which was caused by you, your guests, a third party or wild animals. Two levels of cover are available.
Optional
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What’s covered by landlords home insurance?
Landlords insurance provides financial protection if you need to repair the property you let or replace your belongings after they’ve been stolen, damaged or destroyed.
It comes in two parts: buildings insurance (cover against damage to the property itself) and contents insurance (for damaged or stolen items within the home). These can be combined or bought separately, so the first step is deciding which option is better for you.
What we offer
Quick home emergency response times
Have a home emergency, such as electricity failure, faulty locks or vermin infestation? With the 24/7 Home Emergency cover, which we provide as standard, you can typically get an engineer at your home within four hours. And if you’re worried about an uncontrollable leak in your home, we aim to have an emergency plumber to you within two hours.
Extreme weather conditions may extend response time. Policy terms and claim limits apply.
5 star rated buildings cover
Our building insurance has been given the highest rating by independent financial research companies, Defaqto and Moneyfacts.
Repair guarantee
Any buildings work we undertake is guaranteed for 24 months following a claim and any contents repair work we undertake is guaranteed for 12 months.
New for old
Where we replace an item, we will do our best to meet the original specification on a ‘new for old’ basis. If we can’t find an exact replacement, we’ll offer you a suitable alternative, or a full cash settlement.
Legal advice
We provide Legal Protection cover as standard, giving you access to telephone legal advice on any personal legal issue, under the laws of the UK, any European Union country, the Isle of Man, Channel Islands, Switzerland and Norway.
What isn’t included?
Damage cause gradually, or by wear and tear, or by failure to fix a known issue.
Faulty design or poor workmanship.
Theft, vandalism or malicious damage caused by a tenant.
The cost of repairing or replacing items following a mechanical or electrical fault.
Lost items.
New Customer?
If you’re deciding on whether to buy home insurance with us, you can use our latest policy booklets as a guide.
Existing Customer?
Find answers to some of your questions here. Your latest policy documents are also available to view and download.
Your Questions Answered
If you purchase our Legal Expenses for Landlords cover option, you are covered for legal costs and expenses to recover rent owed by your tenant for the property if it has been overdue for at least one calendar month. You are also covered for legal costs and expenses if a repossession action is required.
In addition, if you have purchased the Rent Guarantee option, you are covered for:
- 100% of your rent arrears – for a limited period – while your tenant or ex-tenant still occupies your property
- 50% of your rent arrears – for a limited period – while your property is vacant (following repossession) if you need to repair it before it can be re-let
Rent arrears are payable 30 days in arrears. Policy terms and conditions apply.
Boiler breakdown is available as an optional upgrade as part of home emergency cover, which is available as an add-on with Homeprotect home insurance policies. With this policy, we aim to have a plumber out to you within four hours.
Homeprotect buildings insurance will cover lost rent (up to £30,000 per claim) if you or your tenants can’t live in the home due to an insured loss, such as fire, flood or escape of water. Rent is defined as the amount you’re expected to receive as a landlord as detailed within your tenancy agreement. If you’re a leaseholder of your property rent also includes ground rent which you are liable for. Policy terms and conditions apply.
The difference between a residential and a commercial landlord is to do with the type of property they let out and is not whether their activities as a landlord constitute their full-time occupation or not.
Residential landlords let out homes, which are also known as ‘residential properties’. Commercial landlords let out properties that are used for commercial purposes such as shops or offices.
Yes. As the owner of the property, you are responsible for the maintenance and upkeep of it, ensuring it is safe to live in and is not in a state of disrepair. If a tenant is injured, or their property is damaged, either on or in connection with your property, you could be liable to pay compensation. Buy-to-let insurance can help to cover these expenses.
Accidental damage cover is optional.
We’re pleased to be able to offer cover to all residential landlords. However, our policies are based on the specifics of the individual property as well as your details, and for that reason, we do not provide blanket coverage. As no two buildings are the same, landlords should take out a separate policy for each letting, one which has been specified to meet the needs of the property.
The only instance in which Homeprotect may offer cover for multiple properties under the same policy is in a block policy (a single building split into multiple addresses). Chat with our team today.
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