Let Property insurance is ideal for professional landlords, buy-to-let landlords, and even accidental landlords who find themselves with additional properties due to an inheritance or a change in personal circumstances. We can even discuss specialist schemes for long-term unoccupied properties.

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Let Property insurance cover details

What’s covered
  • Buildings and/or landlords’ contents cover available.
  • Accidental damage cover for buildings & contents.
  • Loss of earnings/rehousing costs if the tenants have to move out following an insured event.
  • Non-standard occupancy (e.g. student tenants).
  • Up to 60 days’ cover when unoccupied.
  • Liability for accidents on the property which cause injury.
What’s not covered
  • Only suitable for owners of residential property let on an assured shorthold tenancy agreement for a minimum of 12 months.
  • Not covered for wear and tear or gradual deterioration.
  • Not covered for damage to gates and fences caused by a storm or flood.
  • Not covered for loss or damage caused by radioactive contamination, war or terrorism.
Optional cover
  • Properties which will be unoccupied for long periods.
  • Cover for malicious damage by tenants (which many landlord policies don’t include).
  • Legal expenses and/or home emergency cover.
Ways to trade
  • Schemes – Build your business by offering bespoke personal lines insurance which meets your customers’ exact needs.
  • White-labelling – Re-brand our tried and tested personal lines products and schemes, neatly marketed through your own website.
  • Software houses – Trading platforms operated by software houses offer a fast, easy, competitive and compliant way for brokers to access our niche personal lines products online.

Explore the Let Property insurance market

Market information
  • One in five homes are now owned by a landlord.1
  • 2 million private landlords now rent out 5 million properties.2
  • The government wants 1 million new homes by 2020.3
  • 15% of all new mortgages are for buy-to-let.4
  • The number of owner-occupiers is falling.5
  • There are more tenants in privately rented properties than in social housing.6
  • The current value of buy-to-let properties is estimated at £989 billion.7
  • Buy-to-let mortgage lenders will specify that insurance must be in place.8
  • By 2020, there will be around 6 million buy-to-let properties.9
  • By 2032, buy-to-let will account for over 33% of the UK’s housing stock.10
  • 69% of landlords arranged their last buy-to-let mortgage through an intermediary or broker.11
  • There were 2,299,355 university students in 2013/14, with 30% choosing to live in private rented accommodation.12
  • 29% of landlords (400,000) had their property damaged by tenants in 2014-15.13
  • 8% of landlords had to make an insurance claim.14
  • 5% of rental income is typically spent on landlord insurance premiums.15

1, 2: http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/..., 3: http://www.bbc.co.uk/news/uk-england-34209027, 4: http://issuu.com/landlordinvestor/docs/04_landlord_investor_february/17, 5: http://www.insidehousing.co.uk/number-of-owner-occupiers-falls-while-pri..., 6: http://www.channel4.com/news/social-housing-rent-private-landlord-tenant..., 7: http://issuu.com/landlordinvestor/docs/04_landlord_investor_february/17, 8, 9: http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/..., 10: http://www.ipsdirect.com/mobilenewsdetails.aspx?id=2147001940, 11: https://www.hesa.ac.uk, 12: ??, 14, 15: http://www.landlords.org.uk/news-campaigns/news/400000-landlords-affecte...