What does landlord insurance cover?

Different types of landlord insurance cover different risks. Buildings insurance covers the cost of repairing or rebuilding your property, while contents insurance covers your contents if they’re stolen or damaged. You can also choose to cover liability, loss of rent, and alternative accommodation.

When you’re buying a landlord insurance policy you can choose the insurance you need based on the risks you want to cover.

Most landlord insurance policies include buildings insurance or fixtures and fittings insurance, plus property owners’ liability insurance.

Buildings insurance can cover the cost of repairing or rebuilding your property if it’s damaged by something like fire, flood or vandalism. If you own a flat and the freeholder is responsible for buying the buildings insurance, you can just cover your fixtures and fittings.

Property owners’ liability insurance can cover compensation costs and legal fees if a tenant or visitor sues you for injury or damage caused by your property.

If you provide furniture to your tenants then you may want to add landlord contents insurance to your policy. This can pay to replace or repair your contents if they’re stolen or damaged.

Alternative accommodation insurance can cover the reasonable cost of similar temporary accommodation if your tenants have to move out because the property becomes uninhabitable due to an event like a fire or flood. Alternatively, this insurance can cover the rent that should have been paid to you until the property is fit for occupancy again.

Accidental damage insurance can cover the cost of replacing or repairing part of your rental property if an accident happens, like a wine spillage on your carpet or a hole in your wall because DIY has gone wrong.

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