Insurance service launched for buy-to-let landlords

Insurance service launched for buy-to-let landlords

Specialist buy-to-let mortgage lender Landbay has teamed up with Legal & General to offer an insurance service for landlords.

Landbay Insurance will provide a real-time quoting and underwriting facility covering building, content, rent guarantee and tenant insurance and will use Landbay’s online application portal.

Paul Brett, managing director intermediaries at Landbay, said: “Landbay is committed to providing its intermediary partners with simple ways to add value and generate additional revenue from each opportunity. 

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“This new service will offer our brokers, and in turn their clients, a great deal on their insurance. Meanwhile we will leverage the latest insurtech innovations to generate quotes quickly and seamlessly, without the need for yet more paperwork when they apply for a Landbay mortgage.”

Landbay Insurance will be delivered through technology firm KASKO, whose co-founder and chief executive Nick Suehr said: “KASKO is modernising the insurance industry. We offer a middle layer between insurers and the digital world to make it easier for consumers to buy and for insurers to offer the right products. 

“We are excited about working with Landbay and Legal & General to offer insurance at the point of demand. It shows the speed and flexibility of our platform and how the insurance world can be made simpler and better through technology." 

The new Landbay Insurance service follows on from the recent launch of an accounting, reporting and tax compliance service for buy-to-let investors, which is designed to help clients with tax and regulation. 

Aaron Strutt, mortgage expert at Trinity Financial, said: “Anything that makes quote generation easier is to be welcomed. Also, a lot of landlord contracts have scant other forms of cover. Rent guarantee insurance, for example, is something landlords tend to know little about, yet it’s very useful and relatively inexpensive.

"A facility that alerts landlords to these types of insurance, and gives them a quote can only be a good thing.”