There are a number of things about buy to let insurance in the UK that you may not have known. Here is a collection of some of the interesting facts about to buy to let insurance.
The first thing you may not have known is that buy to let insurance is not legally required in the UK. Unlike car insurance, the law does not demand that landlords and property owners have buy to let insurance. However, if the property you own is on a buy to let mortgage, you will be required to have full insurance.
Your buy to let insurance doesn’t just cover damage to your building or the contents within; it also covers your liability as a landlord. Should there ever be an accident or injury on the premises of your property, you are legally responsible. Having buy to let insurance in the UK means that you can receive support with legal fees and damages.
Another thing you may not have known is that you could receive a discount on your premiums if you insure more than one property. If you are a landlord who rents out more than one property, it could be financially beneficial to insure them all at once.
If you purchase buy to let contents insurance, you may not know that this does not cover your tenant’s property. In order to insure your tenant’s contents, you must take out a separate tenant’s contents insurance which will protect their property from damage. Not only that, but that kind of cover can also protect your property from accidental damage caused by the tenant.
So there is a collection of facts that you may have not known about purchasing buy to let insurance in the UK. Hopefully it will help you find a policy that gives you the best cover.