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Renting our property - insurance

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Hi,

I may start renting out my house in future when I eventually move house. Is there any insurance policies available that would cover remortgage expenses if the property was to unoccupied for a period of time (not due to damage etc, just if a tenant wasn't found).

Thanks

Comments

  • InsideInsurance
    InsideInsurance Posts: 22,460 Forumite
    10,000 Posts Combo Breaker
    There is no insurance to cover void periods that I am aware of.

    The closest thing you get is managing agents that control your property and give you a guaranteed rent but that amount is irrespective of if the places is tenanted or empty. So if they struggle to fill it you are quids in. If they find high value tenants willing to pay top dollar you still only get the pre-agreed guaranteed amount. Whilst not an insurance policy there is a similarity in that you exchange a risk of no rent for a known of below market average rent

    Remember if you are thinking of renting it out you will need to check with your mortgage lender and may need to switch to a buy to let mortgage
  • gb12345
    gb12345 Posts: 3,055 Forumite
    Remember if you are thinking of renting it out you will need to check with your mortgage lender and may need to switch to a buy to let mortgage

    And also switch your buildings insurance to one that covers properties that are let out.
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