Do I Need Landlord Insurance?

Landlords letting property may be surprised that there is no legal requirement for them to have building or content insurance for their buy-to-let.  One of our landlords was recently told by their letting agent that the letting agent is legally required to have a copy of the landlords insurance with them.  How true is this?

The reality is that a landlord is not required to have any landlord insurance.  However, many lenders do insist on it as part of the mortgage agreement.  One of my lenders writes to me each year requesting a copy of my current insurance policy.  The reality is that if you aren't insured and your buy-to-let does burn down you will still be left with your outstanding mortgage debt, a pile of worthless bricks and a very large rebuilding bill.  Not advisable!

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