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Let Property

Why offer home Insurance?

To ensure a home is fully protected, having the right insurance coverage is essential.

 

It’s equally important to consider the risks of being underinsured. Household insurance serves as an umbrella term encompassing two key types of coverage: buildings insurance and contents insurance.

 

Integrating GI into the mortgage process can be easy and painless, depending on how you’d like to offer gI. You can find more about our system offerings under ‘Our offering’ tab.

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Buildings & Contents Insurance

Landlord insurance is essential because it protects property owners from potential financial losses due to property damage, liability claims, or loss of rental income, ensuring that their investment is secure even in unexpected situations.

In the event of property damage due to a fire or flooding, buildings insurance would cover the rebuild costs and will usually include the rebuild of structures within the rooms themselves such as bathroom suites or kitchen units. Contents insurance would protect assets such as furniture and electrical goods, kept within the let property.

Cover highlights

✔️Buildings sum insured cover up to £2 million 
✔️Trace and access up to £25,000
✔️Legal liability up to 2 million

Additional benefits

✔️Loss of rent 25% of buildings sum insured
✔️Unoccupancy up to 90 days
✔️ Malicious damage and theft by tenant covered

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Legal cover

Another important feature of cover includes legal expenses, this protects against the cost of having a disruptive tenant, including events such as evicting squatters and repossessing the property.

 

Legal cover can also protect let property owners against the cost of defence, if criminal action is taken.

Loss of rent

Loss of Rent provides cover for the period of time that the property is uninhabitable.

 

When a property is uninhabitable due to scenarios such as fires, floods and gas leaks, Loss of Rent cover is a product feature that recovers the rental income that the property owner would have received during normal circumstances. It is most beneficial for those dependent on the revenue to fund substantial mortgage repayments.