Property Insurance
What is Property Insurance?
Property insurance is a crucial form of cover designed to protect property owners against financial losses caused by damage or unforeseen issues. Whether you own a single rental property or a portfolio of investment properties, property insurance provides peace of mind by covering buildings, contents, and liability risks.
Property Insurance
Types of Property Insurance
Property Insurance (commonly referred to as Property Owners Insurance) encapsulates a number of different types of insurance.
Typically, when we talk about property owners insurance, it covers:
Buy-To-Let Insurance
Tailored for landlords who rent out residential properties, this insurance covers buildings, contents (if furnished), and potential rental income loss due to property damage.
Landlord Insurance / Loss of Rent Insurance
A comprehensive policy that may include buildings and contents insurance, liability cover, loss of rent, and accidental damage protection.
Buildings Insurance
Covers the cost of repairing or rebuilding the property in case of damage due to fire, flood, storms, or vandalism.
Property Owners Liability Insurance
Protects landlords against legal claims from tenants or third parties for injuries or damage related to the property – for example, a roof tile falling and damaging a car.
Contact us today!
At Brents Insurance, we offer tailored solutions to fit your specific needs, ensuring you get the right level of cover at a competitive price.
Who is Property Insurance for?
Property insurance is designed for both individuals and businesses that own real estate, particularly landlords and property investors. It is essential for:
- Private landlords renting out residential properties
- Buy-to-let investors with single or multiple properties
- Property management companies
- Commercial landlords letting business premises
- Holiday let or short-term rental property owners
Do I Need Property Insurance?
If you own a property that is rented out, property insurance is strongly recommended and often required by mortgage lenders. It’s worth keeping in mind, that Standard home insurance is not sufficient for rental properties, as it will not provide cover for landlord-specific risks such as loss of rental income or damage caused by a tenant / occupier. A comprehensive landlord policy ensures that both your property and financial interests are protected should the worst happen
If you’re in the market for Property Owners Insurance, speak to one of the specialists at Brents Insurance. Our team have been protecting property owners for over 60 years.
Property Insurance
How much does Property Insurance cost?
As with most things, the cost of Property Owners Insurance will vary to meet the specific needs of the policy holder, and while it’s not a one price fits all
– we can explore some of the things that factor into our quotes:
The Property
Location, size, and condition of the property will all have an impact on both the level of cover required, and the cost of Property Insurance.
Cover Type
While many of the things we’ve talked about on this page are bundled into what’s commonly known as ‘Property Owners Insurance’, things can be amended or tweaked to impact the cost of the cover.
Furnishings
Whether the property is furnished or unfurnished will have a direct impact on the price of the insurance premiums.
Occupancy
The number of tenants and their occupancy status (e.g., students, professionals, local authority council tenants) can be a huge factor when it comes to pricing Property Owners Insurance.
Previous Claims
As with all insurance policies, previous claims or risks associated with the property will be factored into the cost of the cover.
Get a Property Insurance Quote
At Brents Insurance, we offer tailored solutions to fit your specific needs, ensuring you get the right level of cover at a competitive price. Contact us today for a personalised quote and expert advice on protecting your property, and investment.
