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The Difference Between Buy to Let Insurance and Landlord Insurance
Author: Nathan De Bond
There has been a question that is repeatedly asked in the world of renters insurance for a long time now and it is one that has an easy answer but many people still don't seem to know it. The question that I am talking about is what is the difference between Landlord Insurance and Buy to Let Insurance?
The answer is that they are the same thing; they are both types of insurance for someone that rents a property out. This seemed like a simple answer to me at the time when I was asked it but then I realised that there were 2 main types of people that get this type of insurance and this seemed to determine why people were asking for the same thing under two different names.
The first type of person is someone that actually buys the property with the intention to rent it out all along and never live in it themselves, these people tend to ask for Buy to Let Insurance because that is what they are doing they are Buying to Let, whereas the other type of people are ones that have a house and then move out to rent it out and become Landlords hence these people will ask for Landlord Insurance.
However I want to get the answer out there that no matter what you ask for (either Buy to Let or Landlord Insurance) you will be given the same quote and it will be to protect the building that you rent out and if you leave any contents in there for the tenant then you can also protect them under a Buildings and Contents policy or even do them separately if you wish.
The main thing that this sort of insurance will cover you for is to stop any damage to the building really hurting you. With Buy to Let or Landlords Insurance things that are covered as standard are usually; Escape of Water or Oil, theft or Attempted Theft, Malicious Damage (can also get some insurers that cover Malicious Damage by the Tenant, Fire and smoke damage, lightning, Storm, Flood, Weight of Snow, Earthquake, Explosion, Impact by Aircraft, Impact by Vehicles or Animals and Subsidence.
Obviously people who rent a property out will usually want to make sure that they are covered should anything bad happen there and this will only work if you insure it as a Buy to Let or Landlord Insurance because if you insure it through a Home Insurance policy that will not cover the fact that you have rented it out and there is a tenant in the property.
For more information on Buy to Let Insurance and Landlord Insurance you can visit this website for all things to do with Renters Insurance
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