The amount of buildings insurance you take out should be based on the rebuild value of your rental property. This is an estimate of how much it would cost to rebuild your house from scratch, including labour and materials.

Your contents insurance amount should be based on what it would cost to replace the contents you’re providing in your rental property. This doesn’t include your tenants’ items, as they will need to insure these separately.

With Simply Business you can choose to buy £2 million or £5 million of property owners’ liability insurance, depending on how high you think possible compensation claims could be.

If you buy tenant default insurance from us, this can cover your rental income up to a maximum of £2,500 per month. Our legal expenses insurance comes with a cover limit of £50,000.