The policy offers landlords a single premium, single policy summary and renewal date.
In addition, landlords with a portfolio of two or more properties will receive a 5% discount, rising to 10% for landlords with more than 20 properties.
Buildings insurance cover is available up to £800,000 on the building’s sum assured, while contents cover of up to £2m is available with optional extras including accidental damage and malicious damage, as well as legal expenses and rent guarantee cover.
Malcolm Cooper, product, pricing and underwriting director at Legal & General’s general insurance business, said: “With demand soaring for rental property, more landlords want to protect their property investment. We estimate that the current landlords’ insurance market will grow steadily to over three million policies by 2013.
“This is a significant business opportunity, not only for those advisers who are already selling buy-to-let mortgages and landlords insurance but also for those advisers who’ve not considered this market before.”
