​Private Property Landlords Insurance​
Landlord insurance is similar to home insurance but specifically designed to cover rental properties.
The three main types of landlord insurance are buildings, contents, and liability insurance.​
Cover is provided for buildings, loss of rent, and property owner liability. Additional covers include landlord's contents, accidental damage, subsidence cover, and legal expenses cover up to £100,000.
Beyond these, there are various add-ons you may find helpful, depending on the type of property you're letting.​
As a specialist insurance broker, we can secure cover for even the most unusual homes. And we do so at a great rate where other companies would struggle even to provide a quote.
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What is Landlords Insurance
Landlord insurance is cover that protects landlords from risks associated with their rental property. It usually includes any building you own and rent and can include the contents of those buildings too. This insurance covers you against any unpredictable events such as fire, flood, theft or vandalism.
You are also protected should any tenants claim against you. This is different to home insurance as it includes cover for problems that specifically landlords may face.
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What sort of insurance do I need as a landlord?​
Landlord insurance protects a property if it is damaged and also protects landlords from many other risks, including damages, theft, liability claims, and even loss of rent from tenants.​​
Renting your property comes with many things that are out of your control that you may still be liable for, which is why it is always worth covering your assets just in case the worst happens. Having an insurance policy in place will help you when you need it most.
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Different types of landlord insurance
Different types of landlord insurance cover you for other risks. The type of cover you choose depends on what risks you would like to be covered for. These are a few of the different types of cover:
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Landlord contents insurance
Contents insurance is especially important if you rent a furnished property. It can pay for repairs or replacements if your possessions have been stolen, damaged, or destroyed. Find out more about landlord contents insurance.
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Property owners’ liability insurance
Accidents occur constantly. Things like loose or slippery flooring are quite common amongst rented properties and can lead to slips and trips. Landlord liability insurance is designed to protect you from injury or damage claims related to your rental property. It is a type of public liability insurance built specifically for landlords.
Unoccupied property insurance
Landlord insurance for unoccupied properties is a type of cover you can take out to protect your property while you don’t have any tenants living there.
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Tenant default insurance
If your tenant fails to pay their rent, tenant default insurance can cover your rent for a set period. Rent guarantee insurance protects landlords from the real risk of non-payment of rent.
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Landlord buildings insurance
Your landlord insurance covers the property as long as you have building insurance as part of your policy. It can cover the costs of rebuilding or repairing your property if it is damaged by fire or vandalism.
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Landlord insurance covers
Your mortgage lender may also ask you to take out a specialist landlord insurance policy to protect your property. However, legally, you are not required to have landlord insurance. Landlord insurance helps protect your property, as well as you and your tenants. If you rent out a property, a conventional home insurance policy won’t cover you for any rental activities or related issues.​Essentially, landlord insurance covers you against unpredictable events, so you should always have an insurance policy in place. In the long run, having an insurance policy will help you avoid putting yourself and your assets at risk.
Frequently
Asked
Questions
What will you most likely need to insure as a landlord?
The core coverages of landlord insurance include property damage, liability protection, and rental income lost due to a tenant's inability to rent. Additional riders—or add-ons to policies—can be purchased to cover income lost when a tenant misses a rent payment and flood damage.
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What is the most basic insurance policy available for rental properties?
Landlords: DP-1 insurance can cover your rented properties if you're a landlord. It will cover damages caused by designated risks. It's a basic form of landlord insurance providing the least coverage and therefore may not be for people who rely on their property for income.
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What insurance do landlords need in the UK?
Standard landlord insurance policies typically start with building insurance and property owners' liability insurance. These cover the cost of repairing or rebuilding your property and cover any personal injury to a tenant or visitor.
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Is it worth being a UK landlord?
Good long-term return on investment
If you're a new landlord, it's important to remember that becoming a landlord is not a get-rich-quick scheme. It may take some time before you see a significant return on investment, but it's certainly worth it for the long-term results.
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Which insurance is best for investment property?
Whatever type of rental property you own, you might want to consider getting Landlord Insurance to protect the property against potential risks like theft, natural events, tenant damage, rent defaults and more.
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What type of property has the highest ROI?
High-Tenant Properties – Typically, properties with a high number of tenants will give the best return on investment. These properties include RVs, self-storage, apartment complexes, and office spaces.​​
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​Do you have a question about landlords insurance?
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