Direct Line, a provider of insurance and financial products, has announced that it is launching a new insurance product for buy to let residential property owners.

The new policy has been developed for buy to let owners and property investors with a portfolio of up to five properties. The cover includes buildings and public liability plus various add on options, such as cover for landlords contents and loss of rent if the property becomes uninhabitable following a loss. It will also cover standard alternative accommodation costs, as well as unauthorized use of gas, electricity or water.

The policy is available via the umbrella brand Direct Line for Business and is part of a new suite of products being made available over the coming month. Other products in the range include tradesman, commercial property owners insurance and shop insurance. The policies are a natural extension to the existing Direct Line product range and are aimed at individuals and small businesses.

Gill Murphy, spokesperson at Direct Line for business, said: Direct Line is one of the UK’s leading car and home insurers and the launch of these products is great news for small businesses who can now take advantage of the benefits of being a Direct Line customer.

Direct Line’s residential insurance is aimed at landlords who choose to buy their insurance needs direct and want the convenience of a fast, efficient and value for money product.