Typically, you can’t insure a house getting used for that reasons of making rental earnings having a standard owner-occupier home structures and contents insurance plan
For those who have a house being discrete (or even when only some of it has been discrete) and also you subsequently desire to make claims under owner-occupier cover, you might find that the claim is declined
The potential risks you face, like a landlord, might be considerably different in a few respects, to individuals faced with a typical owner-occupier and so get a telephone you have appropriate insurance protection for individual’s risks
Keep in mind that, like a landlord, you might be more uncovered to 3rd party liability claims than an regular owner-occupier, therefore, it might be important to achieve the greater amounts of cover that could include some landlord insurance
Your tenants could also constitute a danger for you in other conditions (e.g. malicious damage) in ways that there’s no comparison for within the domain of owner-occupier cover, and that’s why specialist landlord cover is needed
unlike the owner-occupier, your home is also your company and when a person suffers an issue with it which means your tenants have to vacate the home, your earnings might have to go together unless of course you’ve some type of a loss of revenue of rental earnings protection in position (something that there’s no significant equivalent poor owner-occupier structures insurance)
Obviously, in a single way your home insurance look like those of the owner-occupier for the reason that in case your house stands empty for over a period specified inside the policy (typically 30-45 days with respect to the provider) it may need unoccupied property insurance if cover will be maintained
for those who have a buy-to-let mortgage, it might pay to bear in mind the mortgage provider could have a clause within the contract that needs you to definitely maintain sufficient let property insurance whatsoever occasions – unless of course you want to stay in breach of the mortgage contract.