Private and professional landlords have been targeted with a new insurance policy from Key Choice which taps into the growing market for buy-to-let mortgages.

The buy-to-let lending market is estimated to be worth £2 billion by the Council of Mortgage Lenders.

Called KC Let Plan, the policy provides buildings and contents cover, limited cover for unfurnished properties, legal expenses and unpaid rent should tenants default on their tenancy agreements.

"Our product strategy is to increase the diversity of our portfolio, providing members with the means to respond to market opportunities," said Key Choice managing director Nick Bate.

The product covers housing association properties, bedsits and unoccupied properties and covers against a number of other liabilities, including malicious damage.