Residential landlord insurance.
Cover for landlords of residential properties, including options for buildings and contents insurance, fixtures and fittings cover, property owner’s liability and much more.
Why do I need landlord Insurance?
Whatever type of home you let out, every rental property owner requires an insurance policy that is unique to them. From managing tenants to sorting out maintenance, it’s a full time job for thousands of property owners, especially under changing regulations and legal guidelines. From accidental damage cover to property owners’ liability protection, landlord insurance provides peace of mind for you and your tenants, knowing your house is in order if things go wrong.
What does residential landlord insurance cover?
Residential landlord insurance policies usually start with property owners’ liability cover, plus protection for your contents and the building itself. Rent protection is also a priority, so lots of landlords add tenant default insurance, in case their tenants start missing payments. And remember, employers’ liability insurance is a legal requirement in almost all cases, if you’ve employed someone to work for you
What property types does residential property owners insurance cover?
terraced and end terrace houses
semi-detached houses
detached houses
bungalows
maisonettes
individual flats in purpose-built blocks or buildings
individual flats in converted buildings or houses
entire purpose-built buildings with multiple flats
entire converted buildings or houses with multiple flats
Residential landlord insurance FAQ’s
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You aren’t legally required to take out a specific landlord policy, but remember – a conventional home insurance policy won’t cover you for rental activities, and a mortgage lender will usually demand you have specific landlord cover in place, before you let your property.
Popular covers include property owners’ liability and contents insurance, for accidents on your property, plus buildings cover to protect the property itself.
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This will depend on your specific circumstances, the type of property you’re renting out, your tenants and various other factors. Reach out today for a quote.
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Rent guarantee and tenant default cover are often misunderstood as being the same thing. Both of these covers are designed to protect a landlord’s income if their tenant stops paying rent – however, there are key differences which you should be aware of before adding either protection to your landlord insurance policy.
Tenant default cover is designed to pay you the rent you’re owed, if you decide to evict tenants who are behind on the rent. Among other things, you’ll need to serve a Section 21 or Section 8 notice, or both, to claim on this type of cover.
Rent guarantee insurance is a different form of protection. It can include cover for properties left unoccupied for a period of time between tenants, as well as instances where the property is uninhabitable due to renovation work, malicious damage or disasters like fire and flooding. It’s often an option you can discuss with a letting agent, who specialises in managing the property for you.
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If you’ve provided furniture and other contents for your tenants – maybe even a TV or art for the walls – your property is known as ‘furnished’, and protection is key for most landlords. You can buy contents insurance as part of your landlord insurance policy. Reach out today for a quote including contents insurance
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Home insurance is required when you want to insure the home you’re living in against accidental loss or damage.
Landlord insurance is different – it’s required when you own a property that you rent out to a third party, and don’t live in yourself. It covers different insurance risks from a home policy, taking into account the type of tenant you rent to and how long you’ve owned the property. It also allows you to insure the property and protect yourself against things like loss of rental income, and malicious damage caused by your tenants.