Landlord Insurance

Barney the Owl

What is Landlord Insurance?

Landlord insurance ensures you are covered for the risks you may face when letting or leasing your property; this is also known as buy to let insurance. This covers you and your property for damage to the buildings or and contents against a range of unforeseen events, from floods and fire to storm damage. Optionally, you can also choose coverage for areas like accidental damage, loss of income and legal expenses.

Landlord Insurance

What does Landlord Insurance include?

When taking out a landlord insurance policy, it is important to consider your business needs and circumstances. Every policy is bespoke; however, common areas that landlord insurance covers include:

Landlord's insurance cover can include:

  • Buildings and landlords contents insurance
  • Loss of rent
  • Landlords legal liability insurance
  • Cover for furnished and unfurnished properties
  • Single properties or multiple property portfolios
  • Tenant default insurance
  • Landlords home emergency cover
  • Landlords boiler breakdown cover
  • Unoccupied property cover
  • Alternative accommodation cover

Landlord Building Insurance

Landlord building insurance typically covers:

  • Walls
  • Roof
  • Floors
  • Extensions
  • Kitchens
  • Bathrooms
  • Permanent fixtures and fittings

Landlord Contents Insurance

Contents insurance covers your property for areas such as flooring, furniture and curtains; however, it does not cover your tenant’s property and this can be covered by the tenant separately under tenants' contents insurance.

Rental Income Protection

Rental income protection, also known as rent guarantee insurance, ensures that you receive your agreed rent should your tenant not be able to live in your property.

Unoccupied Properties

You may find your property vacant from time to time, whether this is in periods of refurbishment or in-between tenants, our brokers can offer bespoke insurance quotes for unoccupied property insurance.

Landlord Liability Cover

Landlord insurance should also offer liability cover. The first type is property owner’s liability; this is used to cover any damage or injury caused while on your property. If you employ anyone at your property, such as receptionists or cleaners, you will also need employer's liability insurance.

Why choose specialist Landlord Insurance?

A landlord's insurance requirements are very specialised. Whether you have just a single rented property or you have invested in an extensive portfolio of rental properties, as a property landlord, you need to know that your landlord insurance needs are being handled by a broker who specialises in property landlord insurance.

Standard home insurance policies won’t offer the appropriate protection for landlords should something unforeseen go wrong, accidental or deliberate. Even worse, your standard home insurance may even be invalidated and cancelled if you let your property out to tenants and you need to make a claim.

Buy to Let Insurance

Insurance for letting your own home or insuring buy-to-let property has become easier as more insurance companies have picked up on the boom in this type of property investment. Despite the credit crunch, the willingness by many banks and building societies to lend money to would-be property landlords have fuelled the trend.

If you are a first-time novice landlord and looking for buy to let insurance, perhaps you are letting out your own home, you might assume that you only need the standard buildings and contents insurance cover provided by many High Street and Internet insurance companies. This is not the case – your buy to let property represents a business as well as an investment and needs to be insured accordingly.

How can we help?

Fortunately, QuoteRack works closely with insurance brokers who can offer you access to specialised schemes offered by niche insurance companies looking to provide Landlord Insurance.

If you are a landlord and you are looking for insurance, QuoteRack's specialist insurance brokers will help you - just hit the 'Get a Quote' link to complete your details online.

Landlord insurance - resources

Assured Shorthold Tenancies

With due acknowledgement to the the Department for Communities and Local Government, you can download their excellent Assured Shorthold Tenancies - a guide for landlords here, as well as their Guide to Regulated Tenancies.

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"Not all tenants pay their rent and some won't move out at the end of their lease. I learned the hard way that you sometimes need professional help, legal advice and thankfully my insurance covered it all."

"Landlord insurance is a vital part of managing a buy to let portfolio - you never know when you might need to claim for the various risks covered by your landlord insurance policy"

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