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The protection industry says the UK has a multi-trillion protection gap thanks to people not taking out the right insurance – so fill your own buy-to-let mortgage protection gap before it is too late.

A protection gap is the difference in what insurance people have and what insurance people really need. The problem is many people don't think they need protection – they think it will not happen to them and they think their money could be spent more wisely elsewhere.

This is the wrong attitude and one that is leading many people in financial difficulty, especially buy-to-let mortgage investors. Taking out a second loan means you are doubling the risk of defaulting on a mortgage if you fall ill or if you cannot find the adequate amount of income each month. You are also doubling the risk of having to invest heavily in a property should it be damaged or need extensive repair.

It's a big responsibility, and one that could get the better of you should the worst happen. That's why you need to fill your personal protection gap – you need to have all the insurance possible to make sure that you are not out of pocket at any point as a landlord.

To find out how big your personal buy-to-let protection gap actually is, talk to a buy-to-let mortgage adviser. They will be able to offer you protection against property damage, against loss of earnings and even death. It needn't be expensive to cover yourself and it needn't take a long time to arrange some insurance products – but it is crucial.

To keep up with the latest News and comment on the UK buy to let market visit the Buy to Let Mortgage Blog