Landlord Insurance

Landlord Insurance is a tailor made insurance that protects the Landlord's property against major risks such as fires and floods.

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Key Features

There are two main elements to Landlord's insurance: (1) buildings cover and (2) contents cover.

Buildings cover, protects the property itself. If buildings cover is taken up then 'contents' cover can be added to cover the furniture within the property.

Who is it for?

Individuals and organisations that have purchased property and are renting it out for residential purposes.

Benefits

Major risks - Property is covered for damage from major risks such as fire and flood
Public liability cover - Covers your legal liability for death or bodily injury caused to members of the public in relation to the property.
Policy documents immediately - You can receive your policy documents seconds after buying insurance through our system.
Additional Cover - Cover can be extended to include Terrorism, Legal Expenses and Accidental Damage.
Cover Required by Law - Employer's liability cover is a legal requirement for any staff you employ, this is available as an additional cover.
Tenant Default - You can extend the policy to protect against tenants defaulting on payments.
Loss of Rent - Cost of alternative accommodation or lost rent if building becomes uninhabitable.
Peace of Mind - The policy ensures that you can expect a reliable return on your investment, whilst minimising some of the risk.

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Things to watch out for

Optional covers - Optional covers such as accidental damage may be included as standard in the cover by some insurers. Other insurers charge you an additional amount. When comparing quotes make sure you compare the same types of cover
Limit of Indemnity - Some insurers will quote you public liability cover from £1m to £5m. You may only need £1m of cover. However if you do need £5m of public liability cover, make sure you get the right quote
Excess - Ensure you are aware of the excesses that apply to different types of claims with different insurers. This may influence your decision on which cover to buy
Tenant Type - Insurers may not cover certain types of tenants, such as students, while others will cover them. Make sure the tenant type input accurately reflects who will be renting the property
Property type - Different insurers cover different property types. Make sure you accurately describe your property type. If you aren't sure, call the contact centre
Exclusions - Read your policy documents and any exclusions that may apply. Specific activities are excluded by the insurer for a reason
Multiple Properties - For convenience the policy can cover more than one property

What are the next steps?

Know your property - The property sum insured should be the rebuild sum of the property; this is not the same as the sum it was purchased for. If you input the purchase price you may pay more for your cover than you need to
Contents sum insured - The sum insured for contents should reflect the cost of replacing the contents
Start date - Insurance prices change frequently, evaluate your desired start date, the cover should ideally start on the day you purchase the property, or the day your previous policy expires
Compare insurers - check the type of cover you require by comparing a number of insurers to ensure the tradesman policy being offered is at the right price and degree of cover, and try and use someone who can offer you quotes from more than one insurer

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Compare, Decide, Buy

Frequently asked questions

How much is the buildings sum insured?

This is the rebuild cost of the property, this is the amount it would cost to rebuild the property should it be totally destroyed

What does accidental damage cover?

Standard cover provides cover for major risks such as fire and flood. If accidental damage is included, cover will also be available if the property is accidentally damaged by you or your tenant

I don't recognise the Insurer name

You may not immediately recognise some of these insurers, this is because they usually specialise in dealing only through brokers and don't sell direct to the public. All the insurers we work with are regulated and authorised by the Financial Services Authority, the UK's regulatory body

Do I need Employer's Liability?

If you have employees the answer is usually yes