Home Insurance For Landlords
There is some confusion when buying home insurance for landlords about what it is called. Two terms are often used, buy to let and landlords insurance however, they both refer to the same thing.
When you take out home insurance for landlords whether it is in the guise of buy to let or landlords insurance you will be getting the same quote and same level of cover. So, why the two different terms?
The different terms emanate from the type of person buying home insurance for landlords.
Buy To Let Home Insurance for Landlords
Typically, people who refer to their policy as buy to let are buying a property with the sole intention of immediately renting it out. They won’t have lived in or have any intention of living in the property and seek to run the property almost as a business.
This leads to the more business orientated term of buy to let insurance.
On the other hand, people who have lived in a home and decided to move but kept the property to rent it out, might be more closely associated with the term landlords insurance when referring to their home insurance for the landlord.
Either way, the same cover applies and the only differences will come from the levels of cover provided by different insurers.
When taking out home insurance for landlords you can expect to get the same cover as you would with a typical home insurance policy. However, this specifically underwritten type of insurance is also set up to protect the proprietors from damage or loss of income incurred by tenants. It is also worth stressing that a typical home insurance policy will become void if the property is being rented out.
Vitally, home insurance for landlords will also include additional cover like landlord liability. This is the cover that protects you from the aforementioned occurrences suffered from tenants.