One product that we regularly help our customers with is their buy-to-let insurance. This is a speciality product and there are a lot of things to consider.

It is always a good idea to use a broker so that if the time comes when you need to make a claim, you will have the best chances of receiving a pay-out.

Here are a few things that you should consider when looking for a policy:

1. 1. Is your property an HMO?

      An HMO is defined as being a property that is tenanted by three or more unrelated persons. There are different requirements for an HMO and different risks, therefore you will need a specialist policy to cover you.

1. 1. Will the property be vacant for a period of time?

      If your property is unoccupied for a specified length of time (often 30 days or longer) then you will need a specialist policy to ensure that you are covered.

      This is an important consideration particularly for those purchasing a property with vacant possession or who will have a gap between the completing of development work and either a sale or sourcing of a tenant.

1. 1. What type of tenant will be living in the property?

      You should ensure that your policy covers you for the tenants that you have living in your property. Just a few examples of exclusions that often exist are for tenants paying rent through DSS or those who would be sub-letting a spare room to a friend.

1. 1. Cover for theft and malicious damage by tenants

      Whilst we hope that this does not happen, it is something that you cannot rule out! You can often add this as an extra to your policy in order to ensure that you are able to claim reimbursement for repair or replacement.

If you would like to discuss your property insurance needs because you need a new policy, because your current policy is expiring or just for a review, our team will be more than happy to help in any way that you need. Please do give us a call on 01474 557427 or email sales@jackamaninsurance.co.uk.