Essentially, your Home Insurance policy will not cover your rental property because your tenants will never look after your property as well as you would. Insurers view tenants as a completely different risk than homeowners, as in the event of an occurrence such as a fire or flood, they are more likely to protect their personal items rather than the property itself.
If you rent your property to a professional, respectable person, this will help bring down the cost of your premium, but you will still require Residential Let Insurance rather than Home Insurance. Neither Home Insurance nor Residential Let Insurance is compulsory by law, but mortgage lenders do often make insurance a requirement of any mortgage agreement.
Visit our Home Insurance and Residential Let Insurance pages for more information.
