What is Landlords Insurance?
Landlord Insurance, also commonly known as Let Property Insurance is a policy designed to cover properties that are not used by the owner but by a tenant.
Landlord insurance is required regardless of whether it is a residential property or a commercial property. If you require insurance for a commercial premises, please check out our commercial landlord or commercial property insurance pages.
We work with UK leading property insurance brokers who have access to the most competitive policies in order to help save you money. Your policy will be fully tailored to your needs and can include personal contents within the property as well if required.
What does it cover?
Your landlord insurance cover will be completely tailorable to cover a wide range of things depending on your requirements.
Typically though, you can expect your policy to cover things such as:
Buildings Cover. This aspect of the policy will cover the cost of the building itself whether it be repairs or to cover a complete rebuild cost (as unlikely that would be though).
Alternative Accommodation. If something should go badly wrong with the property that is not the tenants fault, it is likely you will be liable for finding them somewhere else to stay whilst your property is corrected.
Accidental Damage. Mistakes happen, as such, you can request accidental damage protection be part of your landlord insurance quote.
Malicious Damage. If the damage caused is not accidental but more of a deliberate nature, your policy can be tailored to incorporate this as well.
Property Owners Liability. Although this is more of a blanket term, if included in your policy, liability cover does what it says on the tin and protects you against claims where you are liable. It will be essential to check the small print on this though as not all liability will be covered.
Loss of Rent. Not all tenants are honest and pay their rent. As unfortunate as this is, you can request that loss of rent cover be included to protect you against loss of rental income.
Can you insure multiple properties?
Yes is the short answer to that. Many landlords own multiple rental properties and cover all of them under one policy. If you own several let properties, insuring them under one policy is often the cheapest way to protect all your assets.
What you need to know
Because landlord insurance is not compulsory, many people believe it to be an unnecessary expense. While it may be an additional expense you could do without, it is essential if a disaster occurs and provides you with security and peace of mind. Our experts suggest why you should have landlord insurance and what you need to know to keep you covered.
You may not be covered if you have tenants
While it is not a legal requirement to have landlord insurance, if you rent out a property and something goes wrong, it is unlikely that your standards home buildings and contents insurance will cover you. This is due to the fact that insurers consider the risk of the renters living in your building, and attempt to establish the chances of them making a claim on your insurance policy, rather than you, the owner. For example, students living in a rented property are more likely to pose a greater claims risk to the insurance company than a single professional in the same dwelling.
Not providing smoke and carbon monoxide alarms may invalidate your policy
It is essential that you, as a landlord, have smoke and carbon monoxide alarms on every floor of your property. You must regularly get these alarms tested too, in order to make sure the property is safe for tenants. It is also equally as important to ensure that all of your gas and electrics are frequently inspected too, as failure to do so may mean that your insurer could deem your policy invalid. It also leaves you vulnerable to tenants taking you to court, which will be extremely costly, in terms of time, reputation and finance.
Consider your vacancy times
A significant number of landlord insurance policies will cover you for claims if your property is left empty for short periods, usually of up to 30 days. This ensures you are covered if you need to repair a leak or want to undertake a quick renovation. However, if you plan to have your property sitting empty for several months then you need to let your insurer know so they can update your policy. Adding an unoccupied property insurance policy to your existing cover means you are safe and insured for these periods of time, providing you with that much-needed protection against accidents, squatters or vandalism.
Applying for Let Property Insurance
Applying for cover is quick and easy. Simply complete our quick and easy quote form. Our account handler will search through multiple insurers to provide you a variety of potential policies to choose from helping you compare landlord insurance AND save money !
This service is no obligation, free to use and impartial, we don’t sell any details on either giving you peace of mind against unwanted marketing.
Apply for your quote now and they shall start searching instantly! You may be surprised how much we could save you as well!
Landlord Legal Expenses
Not all tenants are perfect. Thats why we can also offer Legal Expenses cover Although you hope to not require it, in the event of having to carry out an eviction, its peace of mind to know your costs of evicting are covered.
Your policy can be tailored so that your excess is minimal or nothing at all should you need to claim. Although policies can be marginally dearer with excess protection, it does mean if you have a bad tenant and end up claiming, there is little to no upfront cost to find.
Need to call a locksmith or have the locks changed on a property? No problem, ask for key protection and this shall all be seen to for you.
** At least 10% of customers who switched Insurance with us between August 2017 and August 2018 saved £435 or more.
Why use Total Landlord Insurance?
We work with leading UK brokers who work hard to ensure you and your properties are protected. By using us, we enable you to compare landlords insurance quickly and easily better enabling you to get a cheap let property insurance policy.
The brokers we use are FCA registered and operate in the UK to ensure you maximum protection.