Landlords Insurance

Landlords Insurance

One of the most important things to consider when renting a property or considering a new buy to let is Landlords Insurance. It is very easy to overlook this, especially when you are about to rent your home and buy another (let to buy).

A normal home insurance policy will not normally pay out when the property is being used for business let out to tenants.

Landlord insurance is a home insurance policy that can help you cover costs if your property is damaged, someone gets injured on your property or if you need to provide alternative accommodation for your tenants.

Landlord's insurance policies are not all the same so it is important to check. Like most insurance, cheapest is not always best. However, typical cover would be:

Landlords Liability

This could protect you in the event of an insurance claim if anyone is injured in your property where you could be held accountable.

Legal Cover

If rental disputes arise this helps towards legal costs and can also help if you are unfortunate enough to have some squatting in your property.

Rent Guarantee Cover

If something drastic happens that leaves your property uninhabitable, this can certainly help. Furthermore some landlord's insurance policies also help protect you if your tenant doesn't pay their rent.

The following optional extras are similar to regular home insurance policies.

The following optional extras are similar to regular home insurance policies.

The following optional extras are similar to regular home insurance policies.

Accidental Damage Cover

This is more popular with residential home insurance but shouldn't be overlooked by Landlords especially when insuring the buildings. Often the property is rented unfurnished so there would be little point insuring the contents as a landlord.