Insuring your buy to let property may be a condition of your mortgage, and getting the right cover could give you valuable protection if the worst happens.

Look for a policy that offers the cover you need:

  • Give the correct rebuild value: Overestimating could mean you pay more than you need to, and underestimating could affect what you can claim. Use the Association of British Insurers (ABI) calculator to estimate the rebuild value of your property.

  • Check your tenants are covered: Some policies do not cover properties let to certain types of tenants, like asylum seekers. However, there are many insurance providers who cover a range of tenant types, without having to go to a specialist broker. You can find out more about how your tenants may affect your cover here.

  • Get cover for non-standard buildings: Some insurers are often wary of offering cover if your property is listed, thatched, or has a flat roof. But plenty of providers will cover non-standard buildings without needing to go to a specialist broker.

What does it cover?

Landlord buildings insurance covers damage caused by:

  • Fire, explosion, lightning, earthquake and smoke

  • Water or oil leaks from pipes or heating systems

  • Subsidence, heave and landslip

  • Theft or attempted theft (excludes theft by tenants)

  • Malicious damage and vandalism (it may cost extra to cover damage by tenants)

  • Weather damage, including storms and floods

How to find the best price

Get as many online quotes as possible, and choose the policy that gives you the right cover at the cheapest price.

Speak to insurers about the possibility of choosing a higher excess for your buildings insurance, because this could give you a discount on your premium.

Here is more information about how to save money on your landlord insurance.