Landlord Insurance

Who Needs Landlord Insurance?

Landlord Insurance is essential for anyone renting out property—especially if you manage multiple units yourself, own high-value assets on site, or operate without an agency. Mortgage lenders often require evidence of appropriate insurance before approving a rental property loan.

What Does Landlord Insurance Cover?

A comprehensive landlord policy usually covers the cost of repairing or rebuilding your property after unexpected damage caused by fire, flooding, storms, or vandalism. It can also include protection if tenants cause malicious damage or neglect. Importantly, many policies also include liability cover, which protects you if a tenant or visitor suffers an injury on your property and decides to make a claim. In addition, landlord insurance can safeguard your rental income, providing compensation if the property becomes uninhabitable or if a tenant defaults on their rent payments.

Optional Extras and Tailored Protection

Every rental property comes with different risks, so landlord insurance policies are designed to be flexible. For example, you can add contents cover if you provide furnishings or appliances in your rental. Rent guarantee insurance can be included to protect your income if tenants are unable to pay. Emergency cover is another useful option, helping with urgent repairs such as a boiler breakdown or burst pipes. These add-ons mean you can create a policy that reflects your level of risk exposure and financial priorities.

Choosing the Right Policy

When selecting landlord insurance, it’s important to strike the right balance between cost and cover. Comparing quotes from different providers can help you find value, but always look closely at what is included rather than focusing on the cheapest option. Pay attention to the excess amount, as a high excess might reduce premiums but can be expensive if you need to make a claim. Finally, check for exclusions in the policy, such as damage caused during long periods of vacancy, and consider whether you need extra protection for those scenarios.

Why Have Both?

Buildings insurance and contents insurance are designed to work together. While buildings insurance protects the physical shell of your home, contents insurance covers the items inside it. Having both ensures you are comprehensively protected against most common risks.

In the UK, mortgage lenders usually insist on buildings insurance as a condition of lending, since it protects their security in the property. Contents insurance, while not mandatory, is strongly advised for all homeowners and renters, as it protects against financial loss caused by damage to or loss of personal possessions. Together, the two policies provide peace of mind that both your property and your belongings are safeguarded.