Buy To Let Property Insurance – What Is It And Do I Need It?
When insuring a buy to let property, the risks involved vary significantly from those when insuring your residential home with a standard buildings insurance policy. With this in mind it is important to select a purchase a specific buy to let property insurance policy. Buy to let property insurance is different from regular property insurance in several ways; Unoccupied property limitations On a standard residential property policy this limitation is usually about 30 days. This means that should you go away on holiday for more than this and leave the property empty and then have to raise a claim, the insurer can avoid paying out. Buy to let property insurance policies usually allow a much longer period (e.g. 90 days) to allow for periods of un-occupancy between tenants. This can be very useful for example if your target tenants are students who often vacate the property during the summer months. High Risk Tenants Some buy to let property insurance policies require you to tell them what
