Let Property Insurance
Personal Insurance
CDC Insurance provide Let Property Insurance to those with to-let properties in Broadstairs, Kent or nation-wide.
A Let Property policy will allow you to safely let or rent your property to an outside party. This will protect your property from damage or neglect from this outside party, allowing you to rent out your property, hassle free!
This insurance will cover the risks that come with renting out properties, so if you’re a landlord or are looking to let out your property, it’s a great idea to get an insurance policy to cover your property if anything were to go wrong.
Let Property Cover Types:
There are three types of insurance policies that sit under this insurance umbrella; landlord buildings insurance, landlord contents insurance and landlords’ liability insurance. All three of these will fully cover the property you’re looking to let out.
- Landlord buildings cover: This type protects the landlord’s building from any damage or wear and tear over time.
- Landlord content cover: This type protects the landlord’s personal belongings from theft or damage within the building that they are letting. This could be items like dishwashers, washing machines or furniture.
- Landlord liability cover: This type will protect landlords in a situation that requires them to go to court over a dispute.
Below is a more in-depth explanation:
Landlord building and contents insurance will cover the structure and condition of your property as well as any personal items that are contained in your house. So if your the building you are renting out were to experience damage from a fire, you will not only have cover to pay for repairs but also to replace any items that have been damaged or destroyed.
Many accidents can happen in a rented building, no matter how great the conditions. If your tenants get injured due to slips or falls, landlord’s liability insurance can cover you as the property owner from injury or damage claims.
What does a Let Property Policy Cover?
You can customise your let property insurance policy to include the right amount of cover for you. Here’s what you can include:
- The income you make from your rental building
- If you have to go to court, your legal costs can be covered
- Void periods for when you’re looking for new tenants
- Accidental damage by your tenants
- Boiler repairs if it breaks down
- Flooding, fire damage and theft
- The structure of your building
- Fitted kitchens
- Fitted bathrooms
- Furniture, carpets and curtains
Let Property Insurance Exclusions
Your insurance policy may not cover the types of damage and loss below:
- Wear, tear, and gradual deterioration
- Theft by a member of the household
- Buildings that are in the middle of construction/repairs
5 Benefits to Let Property Insurance
1: Protection Against Income Loss:
If your house becomes uninhabitable due to damage from events such as fire or flooding, this insurance can cover the loss of rental income, ensuring you are not left out of pocket during repairs.
2: Coverage for Landlord’s Liability:
This insurance provides liability protection if a tenant or visitor is injured on your building and you are found legally responsible. It covers legal fees and compensation costs, safeguarding your financial interests.
3: Building and Contents Cover:
Let Property Insurance typically covers the structure of the building and any fixtures, fittings, or contents provided by the landlord, such as furniture and appliances. This ensures protection against damage from incidents like fire, theft, or vandalism.
4: Protection Against Intentional Damage by Tenants:
Regular home insurance often excludes damage caused intentionally by tenants. Let Property Insurance covers intended damage, providing peace of mind against the potential financial impact of these types of damages.
5: Cover for Unoccupied/Empty Properties:
Properties may occasionally be vacant between tenancies, which can increase the risk of issues like vandalism or burst pipes. Many of these types of policies include cover for periods when the building is unoccupied, offering extended protection during these times.
Get a quote for a let property insurance policy
Fill out the form below and our team will get in touch with you shortly regarding your free let property insurance quote. Alternatively, email us via enquiries@cdc-insurance.co.uk or call us on 01843 861251.
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