Although the housing market is slowing down, a significant number of people have purchased residential property to let for commercial purposes. Most people will require finance in the form of buy to let mortgages from specialist lenders. It is normally a condition of the arrangement that adequate buildings and contents insurance is taken out by the borrower. In some instances the mortgage company will attempt to sell their own buy to let branded product or require sight of your insurance documents to confirm cover.

Landlords cover is similar to buy to let insurance with regards to the type of cover required. Look out for buildings products that provide protection against loss or damage from specific causes such as fire, lightning, earthquake, storm or flood, explosion, subsidence, aircraft, riot, civil commotion, escape of water or oil from internal appliances, falling trees, theft or attempted theft and damage to TV aerials. It is possible that the property could be unoccupied between lets, therefore, ensure this period is covered by the buy to let insurance.

Depending on the circumstances, buy to let insurance products can be tailored towards individual circumstances, therefore, the following add-on products maybe worth considering such as, contents to cover accidental breakage of glass and sanitary ware, furnishings if the home is partially or fully equipped, loss of rent if the buy to let property becomes uninhabitable and the cost of temporary accommodation for the homeless tenant, legal liability, breakdown of appliances such as central heating, boilers and loss of money.