Buy-to-let landlords warned about the importance of insurance

Buy-to-let landlords have been warned about the importance of taking out adequate insurance on their home by one of the UK’s leading insurance comparison website moneysupermarket.com. Whether you’re considering renting your home out as an investment, to make extra money, or because you’re unable to sell at the moment, you’ll need to take out specific insurance as your current home insurance policy won’t cover you once you start to make a profit from your property. Figures quoted from last year by the insurance comparison website revealed that 1 in 3 landlords had a tenant in arrears, so it’s highly advisable that landlords take out cover in order to protect themselves against financial losses. However the good news is landlords can protect themselves against loss of rent by taking out an annual insurance policy costing as little as £93 a year. More expensive policies, starting at approximately £134 a year, will also provide cover for legal expenses, including incidents which could arise as a result of a repossession, tenant default and also debt recovery. The best way to search for affordable home insurance policies for landlords is to visit an insurance price comparison website where you can compare a range of different policies from leading insurers in one place.