Building Insurance
Neither buildings nor contents insurance is legally required but you will need to take out buildings cover if you bought the property with a mortgage and it would not be wise not to take out some kind of cover. This covers the structure of all buildings included in it plus all items that are left behind when tenants move out, such as patios and fixtures and fittings, against damage caused by fire, flood and pipes bursting.
The cost of rebuilding the property if it was completely destroyed is normally the sum insured, not the price of the property. This sum is included on your original valuation report and could be above or below the market value, depending on when the property was built. Though some insurers will give cover for an unlimited amount, which means there is no need to inform them of the rebuild cost.
Regular buildings insurance for buy-to-let properties not be cover the property if it is empty for more than 30 days a EUROS a problem during the inevitable void periods you are likely to experience a EUROS and that cover for your liability as owner for any injuries that might occur at the property may not be sufficient. It is also likely that you will not be insured against people employed by you being injured there.