Buildings Insurance covers a property owner from financial loss losses connected with rental property. The policy usually covers the buildings in the event of Accidental damage, escape of water, flood and much more. with the option of insuring any contents that belong to the landlord that are inside.
It is really import that policy holders insure the buildings for the true rebuild value to ensure they are covered correctly, if the sum insured is to low then you could find that insurers apply average to the claim. On the flip side, if you are insure the property then you are likely to be paying to much in premium.
If you are struggling to determine your rebuild values then we would recommend clicking here
While you are not legally required to have landlord buildings insurance in the UK, you may need it to uphold your mortgage terms or for financial protection. It is a worthwhile product for peace of mind.