Question

Do I need separate landlord insurance?

Answer:

If you let a property to someone else, you must tell insurers or your policy for that property may not be valid. Standard home insurance policies have exclusions which apply when the property is let to someone else. You should consider buying one of the policies that are available which are specifically designed for let properties (called Buy to Let or Landlord insurance). You will get wider cover which is designed to meet the needs of landlords - but in return there may be additional policy conditions which you must comply with. Typically, these would include requirements to: notify insurers if the building or part of it becomes unoccupied for longer than 60 days; notify insurers when the premises become occupied again and to pay any additional premium; and to inspect the property at specified intervals if it is unoccupied. If you have several properties which you rent out you can normally insure all of these under a single policy.