Introduction - buildings and contents Insurance or united kingdom landlords is simply a form of standard home insurance contract. The perils are fairly similar but the insurer knows that the property is let out to tenants.  Buy to let insurance is becoming more and more popular as people increasingly turn to property as a means of funding for their future.  A fairly typical set of perils under the policy will be as follows;

Fire, explosion, lightning and earthquake, Smoke, Riot, civil commotion, strikes, labour or political disturbances, Malicious acts or vandalism, Storm or Flood, Water or oil escaping from any fixed domestic appliance or system including any costs in locating the source of any escape, Frost damage to fixed water or heating systems in the Home, Theft or attempted theft, The Building being hit by aircraft, other flying devices or anything dropped or falling from them; animals; falling trees, branches, telegraph poles, lampposts or pylons; falling Aerials; or vehicles. Subsidence or heave of the site the Buildings stand on or landslip.

• Accidental breakage of fixed, sanitary fixtures and ceramic hobs forming part of the property.

• Accidental damage to any cables or underground services pipes (including hatches and covers) servicing the Home. Accidental Damage cover.

In addition to the above, the policy may cover loss of metered water up top an amount of about £750.00 per claim. You may also find that unauthorised use of electricity is covered as well. The policy should also cover loss of rent usually up to 20% of the buildings sum insured. Be careful though, this is not loss of rent insurance by tenant default, it is loss of rent by peril. If you are unable to collect rent because say the building has suffered a fire, then you should be entitled to a pay out under the policy.  In addition to the above and just as important that the policy will also cover Property owners liability insurance. This is usually for £1,000,000 and relates to your liability as owner of the building. If you are leaving any furniture or electrical items in the property, you should consider taking out Contents Insurance as this will provide you with liability cover in respect of your ownership of the contents. Some policies will combine this cover together.  As per a standard Home insurance policy for buildings, you should find that there is a contracting purchasers extension.

If you compare the above set of perils found under a typical insurance policy and compare it to your standard home insurance policy, you should notice that they are very similar, basically insurers know that lenders have a standard set of perils that they require to be covered before they will provide a mortgage on the property and construct their policy wordings accordingly. It should be bourn in mind thought that although similar, the policy contract is designed for property that is let, there will be more terms and conditions than a standard home insurance policy and they may be more onerous. Certainly the restrictions relating to unoccupied property should be covered most closely. Also if you move back in to your property, you should tell the insurers immediately, you may well find that the policy will not cover you unless the property is let.