Property insurance plays a vital role in protecting your investment, whether you own a single buy to let or are managing a large portfolio. With so many types available, it can be a little daunting, so we’ve gathered some common scenarios our team is asked about and outlined the key insurance options to consider.
1. Freeholder Insurance, Claims History and Property Condition Considerations
If you own the freehold of a building, it’s important to have insurance that includes public liability to protect against injury or property damage claims. If you employ workers, employers’ liability cover may also be required.
Having made a claim in the past doesn’t necessarily prevent you from getting insurance again. Insurers will assess the nature and timing of previous claims, so full disclosure is essential to receive accurate quotes and appropriate coverage.
Visible cracks in a property can raise concerns about subsidence. Insurers often request a surveyor’s report to confirm whether the cracks are structural. Even if subsidence or underpinning has occurred, coverage may still be available with the right documentation.
2. Insurance for Property Portfolios and Student Contents
Whatever the size of your property portfolio, insurance can be tailored to suit your needs. Coverage is available for a variety of tenant types, including students, professionals and families. For students living away from home, contents insurance offers protection for valuable personal items such as laptops and gaming consoles, with short-term and affordable policies designed specifically for their lifestyle.
3. Rent Guarantee
Rent guarantee insurance helps landlords maintain steady rental income if a tenant stops paying rent. It’s especially useful in situations where legal processes delay eviction or recovery.
4. Overseas Landlord Insurance
If you're living abroad and renting out your UK property, it's essential that your insurance reflects this change. Policies can be tailored to accommodate international residency and ensure your property remains protected while you're overseas.
5. Buying Property at Auction with Bridging Finance
When purchasing a property at auction, you often need insurance quickly to satisfy lender requirements. In these cases, Unoccupied Buildings Insurance can provide temporary cover until the property is occupied. Once tenants move in or the property is sold, the policy can be updated or cancelled.
Final thoughts
Property insurance isn’t one-size-fits-all, so understanding the different types of cover and when they apply can help you make informed decisions and protect your investment effectively. Knowing what to expect helps make the process smoother, safer and more tailored to your unique needs.
