Landlord Insurance

What is landlord insurance?

Landlord insurance covers potential risks associated with renting or leasing a property that normal building and contents insurance may not cover. Also known as buy-to-let insurance, it protects you against a variety of unexpected calamities such as floods, fires, burst pipes, and storms.

You can also select from a number of optional coverages, including accidental damage, loss of rent, landlord emergency, and legal expenses, which cover the costs and expenses associated with a variety of legal matters such as contract disputes, tax and VAT investigations, repossession, and squatter eviction.

What does landlord insurance cover in the UK?

Landlord insurance provides extensive basic coverage for your premises, fixtures & fittings, and possessions. It also provides breakdown coverage for certain types of equipment, such as boilers and heating systems. In addition, if necessary, you can increase limits and expand your coverage. There's also the option to reduce your excess for a higher premium or increase your excess for a lower premium, whichever works best for you.

What's included as standard with our landlord insurance for your buildings:

• Structural damage to the building - after an insured event such as fire, lightning, an explosion or earthquake, riot, civil disturbance, malicious damage caused by a person unlawfully on your property, storm, flood, subsidence, landslip and ground heave, impact, theft, escape of water.
• Damage caused by escape of water - including burst pipes, leaking water tanks, or escape of oil from any oil-fired heating installation.
• The cost of temporary alternative accommodation for your tenants - this is available if the property isn't fit to live in after an insured event - such as a flood or fire. Cover is up to the building sum insured (rebuild value) on your policy.
• Public Liability cover of £2million with the option to increase - if you're sued for damage to someone else's property or a tenant or tradesperson is injured after an accident at your rental property, you're covered. For example, if your tenant trips over an uneven patio stone, you'll be insured for the legal costs.
• Glass and sanitary ware following breakage.
• Locks and keys replacement - if keys are lost or if they're copied by an unauthorised person - up to £15,000 per claim.

Frequently asked questions about landlord insurance:

What type of landlord insurance do I need?

The type of landlord insurance you require will vary based on your needs. Landlord insurance is divided into three levels: buildings, contents, and leaseholders' fixtures and fittings, which cover insured calamities including fire, flood, and theft.

Buildings insurance protects against damage or loss of the property's structure. Contents insurance covers damage or loss of the landlord's assets, such as furniture, that are left in the property.

Leaseholders' fixtures and fittings insurance covers fixed fittings within a property, such as bathroom suites or kitchen equipment, that are not covered by the basic buildings insurance policy purchased for a block of flats. If you need to protect both the structure of the property and its goods, you can combine your insurance coverage, such as buildings and contents.

What do I need to get a landlord insurance quote?

To get a quote, you need to enter your details and any past claims history, as well as the details of the property and the tenants you are renting to. You would need property details, including the rebuild value, age, and construction of the property.

Is it a legal requirement to have landlord insurance in the UK?

It is not a legal requirement to have landlord insurance in the UK. However, it is highly recommended if you want to protect your property and finances. Some mortgage lenders may require landlords to have landlord insurance to come to a mortgage agreement.