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Landlord Insurance FAQS
When searching for a cheap landlord insurance policy, comparing prices from various providers is essential. You may not require coverage for damage caused by tenants but may require higher levels of protection against theft or malicious damage.
You should also assess whether your policy includes an excess fee. An excess is an amount you must pay when making a claim; the higher it is, the cheaper your policy rate will be.
Landlord insurance covers buildings and contents and can be obtained from various providers. They will compare quotes from leading UK rental insurers to find a policy that meets your requirements.
The cost of your policy will depend on a range of factors, including the location, construction and occupation of the property you wish to insure. The amount of cover purchased and any optional extras like rent guarantee that may affect the final cost will influence how much it costs.
One of the essential considerations when selecting landlord insurance is that you should read it thoroughly before signing it. Most policies contain extensive fine print, so you must read them thoroughly to avoid losing much money if a claim occurs.
Landlord liability is an integral component of many landlord policies. It can cover compensation claims and legal fees if a tenant gets injured on your premises or damage is caused by staff members’ actions. Furthermore, landlord liability helps pay for destruction due to fire, flood or disease contamination – fire/fluke damage or mould growth.
When selecting a landlord insurance provider, it’s essential to consider their customer support level. With any problem that arises, you need a quick way to contact someone, and they should provide answers and an accurate quote for any work needed.
A good reputation is essential for any landlord insurance policy, as it will give you peace of mind in purchasing. But as with any service for which you pay a premium, make sure it’s worth the money and provides you with the quality of service required.
When selecting a landlord policy, there are three essential components: Dwelling and other structures coverage, liability protection and loss of rental income. Each component helps cover any costs related to damage or destruction to your home or any other structures on your property and personal items used for maintenance purposes.
Landlord insurance protects a variety of scenarios, from damage caused by tenants to lost rental income. It also shields you against claims made by third parties (for instance, if someone gets injured on your premises).
UK buy-to-let landlords have several choices of landlord insurance, such as buildings and contents coverage, liability coverage, emergency assistance services, rent guarantee policies and legal expenses coverage. You can pick the level of cover required and even opt for a portfolio policy which covers multiple properties under one policy.
If you own a property that you rent out, landlord insurance is necessary to safeguard both the building and income in case of loss. This cover can pay for repairs or rebuilding if your rental property is damaged due to covered events like fire, flood or storm; additionally, it could cover a replacement tenant if the premises become uninhabitable while being repaired.
Before purchasing landlord insurance, read the policy thoroughly, as exclusions or limits may apply.
The amount of coverage available to you depends
on several factors, such as the age and condition of your property. To get the right coverage at an affordable price, it’s wise to get quotes from several different companies.
It’s wise to consult other landlords and ask them about their selected essential coverage. Doing this can give you a better idea of what is and isn’t available, plus identify companies with policies explicitly tailored to your requirements.
Landlord insurance’s primary purpose is to protect you from damage to your property, so make sure your policy includes everything you require. While regular maintenance cannot be covered under landlord insurance, it may include coverage for emergency repairs or replacing rented furniture and appliances that have been destroyed due to natural disasters.
Other advantages of a good landlord insurance policy include liability coverage, which covers claims made against you by tenants and their guests. It may also shield you legally if someone gets injured on your premises, and it can be proven that you were at fault for the accident.
Landlord Buildings Insurance offers comprehensive protection against a range of potential perils, such as fire, lightning, storms, floods and earthquakes; accidental escape of water or oil; falling trees or branches; collision by vehicles; malicious damage – plus much more. Your policy can also be extended to include emergency assistance cover for your property’s boiler & heating systems, plus additional contents coverage if desired.
Add accidental damage cover to your policy for protection against damage caused by accidental falls, fire and theft. Depending on the level of cover you select, it may be cheaper to include accidental damage only to your building or contents or both for more excellent value.
The cost of landlord insurance varies based on the level and type of coverage you select and where you live. On average, standard buildings and contents policies start at around £170 for a one-household policy; however, costs can be much higher in high-risk areas or for more significant properties.
Apart from peace of mind, the right cover will give you financial protection for landlords renting a property to tenants. It can cover buildings, contents, accidental damage, loss of rent, liability and even rent guarantee.
Yes, as even if you have the most trustworthy of tenants, without it you will not be covered from events like fire, flooding and theft.
The similarities of these are that home, and Landlord Insurance may cover you in case of events like flood, storm, and fire. However, Landlord insurance also covers theft, malicious damage caused by tenants, and vandalism.
Landlord Insurance insures you against claims should tenants injure themselves on your property and you’re found to be at fault, as well as unpredictable events such as fire, theft and floods.
What is Landlord Insurance?
Landlord Insurance is a type of Insurance that is used by property owners who either rent out or lease their properties. This type of insurance offers different types of coverage for both the property and for liability protection. This means that your property insurance can cover any damages to both your property as well as, to any of the furnishing within it that was provided by you as part of the rental agreement. It can also provide you with insurance that covers the loss of rental income, or the loss of income that comes from long periods of no occupancy.
There are also extras that can be added to your landlord insurance which will help cover even more potential financial losses that might be incurred because of your property being rented or leased. Essentially, Landlord Insurance is there to minimise the potential financial loss of renting or leasing out your property.
More Than Landlord Insurance
When looking into landlord insurance costs, several factors come into play – the type of property being rented, the number of units occupied and how much liability coverage you need. Generally speaking, the higher your risk for loss or liability is, the pricier it will be to insure your asset.
Standard homeowners policies do not cover properties rented out to tenants, so landlord insurance must be purchased. These policies differ from standard policies, such as coverage for lost income and higher liability limits.
Landlords are held liable for property damage and liabilities that arise from renting out their properties, while homeowners’ policies only cover owner-occupied residences.
Another critical distinction is landlords rely on their properties to generate revenue, so they must have adequate asset coverage. This safeguards them against losses like fire or flood, which could prevent them from earning money through rent they charge for it or through any income generated from said properties.
Landlording can be expensive, so shopping for the right landlord insurance plan that meets your requirements is essential. Some providers provide package deals which combine building and contents coverage into one policy, helping you save money in the long run.
It is wise to include legal expenses insurance in your landlord policy. Doing so can help cover legal fees incurred from pursuing unpaid rent, tenant personal injury claims and evictions.
Many occasionally become accidental landlords by renting out their homes through home-sharing services like Airbnb or HomeAway. In most cases, landlords only take out a landlord insurance policy because their homeowner’s policy only covers them if they rent out the property regularly.
To guarantee your policy provides the protection you need, consult a specialist landlord insurance broker. They understand their client’s requirements and can provide quotes that offer better value than what can be found through online search engines.
The cost of landlord insurance is determined by the coverage limits and deductibles you choose. Raising your coverage limit may reduce premiums, but the insurance company still needs to pay out in case of a claim. So, setting your deductible low enough that any large payout won’t be necessary in case of an accident or damage is prudent.
Landlord Insurance Providers
Direct Line Landlord Insurance
Who are Direct Line Landlord Insurance
Direct Line landlord insurance is an ideal solution for landlords who need affordable protection that safeguards their property portfolio from common risks associated with renting. It covers buildings and contents against fire, flood, storms and burst pipes – giving you peace of mind that your portfolio will be secure in any disaster.
Features of Direct Line Landlord Insurance
- Coverage includes essential elements like landlord emergency, legal expenses and loss of rent which can assist you with various landlord-related situations. Furthermore, it covers temporary accommodation while repairs are being done – making it an ideal solution for landlords who rely on rental income from their properties.
- Typically, an excess will be around £200. But adding an excess reduction scheme to your policy can reduce this amount to a more manageable amount.
- Product liability is essential to most policies, covering compensation and legal fees if your product causes injury or harm. It could even cover damages to your business reputation if it’s determined that you were negligent when selling or providing services.
- A range of optional extras can be added to your landlord policy, such as a non-occupied dwelling endorsement. This cover provides extra coverage if your property is vacant for 30 days or more and provides invaluable cash flow should an insured event such as fire or flood prevent you from renting out the property temporarily.
Why Choose Direct Line Landlord Insurance
Direct Line landlord insurance is popular due to its flexible cover options that meet all landlords’ needs, its stellar rating among industry experts, and its award-winning landlord insurance products.
HomeLet Landlord Insurance
Who are HomeLet Landlord Insurance
HomeLet offers a comprehensive range of landlord insurance products to meet the demands of buy-to-let property owners throughout the UK. Their comprehensive cover encompasses building and contents coverage, liability, emergency assistance and legal expenses – everything you need to safeguard your investment.
Features of HomeLet Landlord Insurance
As well as protecting buildings and contents, Landlord Insurance policies can cover against:
- Emergency overnight accommodation (for your tenant)
- Emergency repairs
- Damage to your property (by the tenant)
- Loss of rent or the alternative accommodation costs if your tenants have to move out following an insured event
- Liability for injury or loss related to your rental property
Why Choose HomeLet Landlord Insurance
HomeLet has 25 years of experience in the UK’s private rental sector’s landlord insurance sector. Their comprehensive product provides solutions for landlords, letting agents and tenants alike, along with tenant referencing services, deposit protection and more. Read through HomeLet reviews below to discover more about their offerings and decide if they are the right insurer for you.
Finding the appropriate landlord insurance can be complicated, and you should only make your choice after considering all factors that will influence its cost. Furthermore, read all policies carefully, as some have specific exclusions that must be adhered to receive complete protection.
AXA Landlord Insurance
Who are AXA Landlord Insurance
AXA landlord insurance provides peace of mind when renting out your property. It covers the dwelling, unattached structures and contents in case they are damaged or destroyed due to factors like fire or water. Furthermore, AXA protects you against loss of rental income if the property becomes uninhabitable and liability coverage for accidental injury or damage to third parties on your premises.
Features of AXA Landlord Insurance
- Customer reviews for AXA Insurance Services have been overwhelmingly positive, with most people giving them excellent ratings for customer service. Some comments indicated they were only sometimes quick to resolve complaints, and some criticised them for charging more than competitors for policies offering less value.
- AXA landlord insurance offers a range of cover levels from essential to comprehensive, as well as optional extras such as loss of rent cover and legal expenses that protect you in case your tenants don’t pay their rent, or you need to sue for eviction or repossession.
- Like many other providers, AXA landlord insurance can be tailored to fit your requirements. You can purchase coverage for one property or up to 10 properties within your portfolio.
- Finding the ideal landlord insurance policy requires getting quotes from multiple insurers and speaking to an agent about your requirements.
- AXA has earned its customers’ trust over 300 years in the insurance industry, boasting an impressive 300-year experience and a well-deserved reputation for providing excellent service. Their comprehensive cover is competitively priced, too, making AXA an ideal choice for landlords looking to safeguard their property investment.
- It has a stellar reputation for customer service and claims management, earning an ‘excellent’ 4.3 out of 5 rating from Trustpilot and 3.5 out of five from Finder. However, it cannot be easy to judge an insurer by their online customer service; we suggest checking their rating with independent review sites like Finder or Trustpilot before making your final decision.
- Foremost provides landlord insurance to property owners who own multiple residential buildings. Their building and contents can help mitigate risks associated with owning multiple houses, while SmartMove is designed to make sure you screen potential tenants efficiently and effectively.
Why Choose AXA Landlord Insurance
Axa is an established insurance provider with decades of experience helping people protect themselves and their possessions from various risks. It strives to offer policies tailored to individual customers’ needs, so they can customise their cover according to those needs and ensure they are safeguarded against everyday hazards.
Aviva Landlord Insurance
Who are Aviva Landlord Insurance
Aviva landlord insurance is ideal for UK-based property owners who want to safeguard their investments and tenants. The insurer provides various building and contents cover options tailored to fit your requirements, such as protection against fire, subsidence or floods.
Aviva has been one of the UK’s premier insurers for over 320 years. Their landlord insurance offers comprehensive protection to landlords, including loss of rental income coverage, £5m of buildings and contents coverage as standard, plus various optional add-ons that provide even further safeguarding.
Features of Aviva Landlord Insurance
- You may add extras such as legal expenses, loss of rent and damage caused by tenants to your policy. If you have multiple properties to insure or are worried about the cost of repairing multiple buildings, these are essential additions should one experience damage concurrently.
- Some may be dismayed that this cover only applies to buildings, not contents. Fortunately, you can add a contents insurance element to your policy for an additional premium and avoid purchasing separate policies for all items you own. This helps save you money since all items owned will be secured.
- Unfortunately, landlord insurance is typically not included in a standard home policy; thus, checking your current policy for details is essential. Insurance companies such as Aviva offer plans tailored to individual needs and circumstances.
- It is essential to remember that while most landlord insurance policies provide liability protection, they rarely cover the personal possessions of your tenants in the property. Be sure to include this in your tenancy agreement so you are not held accountable if a tenant suffers an injury.
- Finally, many landlord insurance policies must include flooding or earthquake coverage. These can be expensive to repair, so reading the fine print carefully is wise.
Why Choose Aviva Landlord Insurance
Aviva is a well-known player in the insurance world, known for their superior customer service. For example, their award-winning claims service boasted a 98% success rate in 2019 and settled 24% of all home insurance claims within five days.
Aviva’s policies could be more pricey than their rivals, so shopping for a better deal is wise. Our comparison tool makes this easy; just input your desired landlord insurance provider and compare prices to find the most affordable coverage.
Liverpool Victoria Landlord Insurance
Who are Liverpool Victoria Landlord Insurance
Liverpool Victoria, the oldest insurer in the UK, has been around since 1843. As a mutual owned by its members, LV offers its clients an array of products such as life insurance, savings and pensions.
LV has an established record in landlord insurance, offering policies to suit a range of properties and budgets. Their package offers some of the lowest prices on the market and plenty of optional add-ons that allow you to customise your policy further.
Features of Liverpool Victoria Landlord Insurance
- The company boasts an impressively extensive network of branches across the UK and a well-designed online portal, enabling you to manage your policy online easily.
- LV offers an unbeatable low pricing structure – no more than £12 per month for basic home insurance coverage. Their stellar customer service record has made them the go-to choice for many UK property owners.
- LV has also joined forces with Google to offer its customers cutting-edge technology solutions that could save them money in the long run. Their new e-commerce platform will permit customers to purchase insurance online, bypassing traditional methods and saving them time while on the go.
Why Choose Liverpool Victoria Landlord Insurance
Most landlords already carry buildings and contents insurance, but this often needs to cover tenants’ possessions like appliances and furniture. The LV landlord insurance product combines both coverages into one comprehensive policy with exceptional claims service.
Simply Business Landlord Insurance
Who are Simply Business Landlord Insurance
Simply Business is an independent insurance provider established in 2005 that offers tailor-made business and landlord policies to fit your needs. It operates under the trading name of Xbridge Ltd, which is regulated and authorised by the Financial Conduct Authority.
The company offers a broad selection of business insurance for various industries, such as retail and manufacturing, professional services, construction, etc. Furthermore, they provide coverage to freelancers, contractors and home businesses.
Features of Simply Business Landlord Insurance
- If you own residential or commercial property, Simply Business landlord insurance is an ideal way to safeguard yourself against damage. It will cover repairs and replacements if your house or business suffers damage from storms, floods or subsidence.
- In addition to landlord insurance, Simply business also provides a variety of other policies for your business – such as public liability, buildings and contents coverage and employers’ liability. Their website provides an easy online process for getting a business insurance quote, so finding the right coverage at an unbeatable price is simple.
- Your policy includes a minimum public liability cover of at least £1 million, which should be enough to safeguard you against claims from clients. However, you may wish to add higher levels of protection depending on your individual needs.
- Professional indemnity cover can protect you against damages caused by errors or mistakes in your work, particularly for those who provide advice or services for a fee. This type of cover is especially beneficial if you work as an accountant, consultant or engineer.
- Small businesses and startups will love this option as it is fast and hassle-free. You can compare quotes from leading insurers to find coverage that meets your business needs, choose a monthly payment plan to fit your budget and keep more money in your business.
- Landlords can opt for a comprehensive or limited policy for their rented properties, protecting them against damage costs, loss of rent and legal liability. It’s worth considering adding accidental damage as an optional extra in case of theft or vandalism; this can provide valuable assurance in such instances.
- Your policy also covers the costs of rebuilding work to your physical structure and permanent fixtures if your property is damaged by fire, flooding or storms, as well as providing compensation if tenants cannot live in the building due to this damage.
- If you are considering purchasing a landlord policy from Simply Business, we suggest reading what real customers have said about the company. These reviews can accurately represent what they provide and their satisfaction with their service.
Why Choose Simply Business Landlord Insurance
Simply Business is a well-known provider of straightforward, user-friendly insurance solutions for small business owners. Their process is straightforward – they provide an assessment questionnaire to understand your requirements and help find you a policy that fits within your budget. Plus, their UK-based customer service team can guide you through every step.
Churchill Landlord Insurance
Who are Churchill Landlord Insurance
Churchill is a UK-based insurer that offers home insurance products such as buildings, contents and combined cover. They’re part of Direct Line Group, which also offers motor and travel coverage to their customers. Churchill holds licences from both the Bromley and Peterborough offices of the Financial Conduct Authority (FCA).
The company provides landlords insurance coverage to safeguard them against damages and legal disputes arising when renting out properties. This includes rent guarantee insurance, building and contents coverage, and landlord boiler cover for rental properties.
Features of Churchill Landlord Insurance
- Before signing up with Churchill for home insurance, there are several exclusions you should review carefully. Some are listed below but read through all policy documents thoroughly to guarantee your home is covered against everything necessary for coverage.
- Landlord buildings and contents insurance is a type of coverage available for both freehold and leasehold properties, including flats. It’s perfect for landlords with large and small properties used as rental accommodations.
- Cost-effective insurance to protect your property against disasters can be a great way to save you time and hassle from repairs and renovations after an event. In some cases, policies even cover loss of rent or additional living expenses should you relocate tenants due to damage or destruction caused by natural disasters.
- Finding the right landlord insurance can be a challenge. Your required coverage depends on the size and age of your property, its location and potential risks from various unforeseen events.
- Your policy’s cost will depend on the type of cover you select and if you add optional extras. These factors will be factored into your premium price, so it’s wise to shop around before taking out a policy.
- Furthermore, some policies require paying an excess before your insurer covers the remainder of a claim. These fees can either be voluntary or compulsory, depending on the policy.
Why Choose Churchill Landlord Insurance<
Insuring a property requires an immense commitment, and many landlords worry about the costs of repairs or renovations that could occur should disaster strike. Churchill landlord insurance helps mitigate these expenses by covering damage caused by fire, flood, subsidence or theft.
Comparing different providers is the best way to find the one that meets your requirements. Our online quote comparison tool makes this easy by offering a selection of quotes from renowned service providers.
Advice from friends is another helpful way to gain insight into what different companies offer and their responses in case of a claim. This will give you a personal and intimate view of each insurance provider you’re considering, enabling you to make an informed decision.
Alan Boswell Landlord Insurance
Who are Alan Boswell Landlord Insurance
The Alan Boswell Group is one of the UK’s largest independent insurance brokers and financial planning groups, providing property-related insurance solutions to clients nationwide. Established in 1982, they specialise in landlord insurance with a network of insurers to tailor your coverage to individual needs.
Features of Alan Boswell Landlord Insurance
- In addition to offering competitively priced landlord insurance, Alan Boswell provides excellent incentives for new and existing customers. These include a 10% multi-property discount if you take out multiple policies with them.
- Alan Boswell offers the most cost-effective solution with their products, yet they do not skimp on features – especially regarding landlord insurance coverage. They provide a selection of optional add-ons and discounts to make their offer as comprehensive as possible so you can customise it according to your requirements.
Why Choose Alan Boswell Landlord Insurance
Landlord insurance is a home policy designed to offer financial security to those renting their properties. It includes cover for buildings, contents and property owners’ liability.
A reliable landlord insurance policy is essential for safeguarding your property and guaranteeing that you and your tenants are safeguarded in an accident. Unfortunately, this type of cover can be expensive, so shopping around for the most competitive rate is essential.
Barclays Landlord Insurance
Who are Barclays Landlord Insurance
Barclays offers solutions for landlords looking to safeguard their investments and tenants’ possessions. This includes Buildings Insurance and Contents Insurance, customisable according to individual needs.
Landlord insurance is essential to property management, protecting you against potential risks and safeguarding income and assets while covering legal liabilities. Finding the right cover for your needs can take time and effort.
Features of Barclays Landlord Insurance
- Flexibility: Should you change your mind about the level of coverage needed or wish to cancel mid-term, we’ll reimburse any exit fees charged by your current provider.
- Home Emergency: If your boiler, heating system or roof experience an insured issue, we’ll pay to fix it. This is particularly beneficial if you live in a rented property and need help accessing the property to make necessary repairs; Barclays can send out a specialist contractor instead.
- Combination buildings and contents insurance: We’ll cover both the structure of your home (buildings) and everything inside it, such as furniture and appliances. This helps you rebuild your house after a fire, storm or flood.
- You can add Extra cover for your items to help protect them in the event of theft or accidental damage, such as bike and gadget insurance. The excess is another major factor in your policy’s cost, so ensure you’re satisfied before signing a deal for coverage.
- Legal Expenses: Should you be in court, our legal expenses coverage extends to £50,000 per claim.
- Rent Guarantee: If your tenant fails to pay their rent and you need to relist, we’ll cover any gaps until they start making payments again.
- Employers’ Liability: If you have staff, we’ll pay them to attend work injury seminars and other training sessions.
- Loss of Rent: We will cover your rent if lost due to an insured event such as fire or flood.
- You can insure your bikes for up to £50,000 of cover as an optional extra.
- You can add additional coverages like accidental damage and legal expenses.
Why Choose Barclays Landlord Insurance
You’ll have to pay the first part of most claims. Your policy schedule will provide details of the applicable excess. Here are some of the things that aren’t covered
- Damage caused by wet or dry rot
- Gates, fences or hedges blown down in a storm
- Certain damage that happens when your property is unoccupied for more than the number of days permitted by the policy
- Damage caused by wet or dry rot
- Gates, fences or hedges blown down in a storm
- Damage to cables or underground pipes due to a fault or limit of design, manufacture, construction or installation
- Theft by tenants
Halifax Landlord Insurance
Who are Halifax Landlord Insurance
Halifax landlord insurance is available to those who own a house, flat or apartment that they rent out. It provides comprehensive protection for both buildings and contents at an affordable price, so you can get the security you need at a price that works for you.
Features of Halifax Landlord Insurance
- On the Halifax website, getting a quote for landlord insurance is effortless. You can select from their selection of policies or apply online using their convenient form. They’ll calculate an accurate premium that considers your home’s worth, how much money you have to replace possessions and any risks, such as theft or fire that might occur.
- Optionally, you can extend your policy with optional extras to provide more excellent protection. These could include benefits like home emergency cover, legal expenses, or accidental damage coverage.
- Halifax Insurance provides a range of options to customise your policy to meet your individual needs; plenty of deals are also available. For instance, you could get £50 cashback on a combined buildings and contents policy which has been active for at least 70 days.
- As a landlord, you likely have many expensive items on your property; thus, they must be all secured. Ensure all furniture, appliances, and other belongings are against theft and damage for peace of mind.
- Additionally, ensure you have adequate liability coverage to shield you in case of a lawsuit from tenants or someone suffering an injury on your premises. This will cover legal expenses and any compensation awarded to those injured in an accident.
Why Choose Halifax Landlord Insurance
Halifax’s landlord insurance program is an attractive choice for many property owners. It includes a comprehensive set of features at competitive prices, making it worth considering. You can also compare the various plans available to determine which one best suits your needs.
Admiral Landlord Insurance
Who are Admiral Landlord Insurance
Admiral landlord insurance is essential to any buy-to-let property owner’s portfolio. It provides comprehensive protection for both the building and contents of your investment and protects you legally as a landlord.
The company has earned several accolades, such as Best Home Insurance Provider 2019 and Moneyfacts Highly Commended Insurance Provider 2021. Furthermore, their website features a comprehensive product guide to assist customers when selecting an insurance plan.
Features of Admiral Landlord Insurance
| Admiral Landlords’ buildings insurance | |||
| ADMIRAL | ADMIRAL GOLD | ADMIRAL PLATINUM | |
| Buildings sum insured | Unlimited | Unlimited | Unlimited |
| Property owner’s liability | £1M | £2M | £2M |
| Employer’s liability | £5M | ||
| Alternative accommodation & loss of rent | £30K | £75K | £100K |
| Replacement locks & keys | £500 | £750 | £1K |
| Emergency access | £500 | £1K | £2.5K |
| Loss of metered water/oil | £500 | £1K | £2.5K |
| House sale | |||
| Unauthorised use of gas/electric/water | £1K | £2.5K | |
| Trace and access | £5K | £10K | |
| Unoccupancy | 30 days | 60 days | 90 days |
Why Choose Admiral Landlord Insurance
Discover if the Admiral landlord insurance policy suits you by using our free quote service to compare quotes from leading UK insurers and determine which option best meets your needs.
Top home insurance providers include household names like AXA, Direct Line and Admiral, and smaller specialist firms. Many will provide customised coverages and options to fit your needs; some even give discounts for good behaviour!
British Gas Landlord Insurance
Who are British Gas Landlord Insurance
Landlord insurance from British Gas provides landlords with peace of mind, protecting their property against damage, loss of rent and legal costs. They offer various cover options to suit all needs and optional extras.
Features of British Gas Landlord Insurance
- Accidental Damage: This covers accidental damage to your property caused by fire, flood, theft and vandalism. They may even insure the contents of your vehicle up to £50,000 in case they are damaged or stolen.
- Loss of Rent: Losing rental income can be devastating, and this insurance may help you get back on track financially.
- Employers’ Liability: This is an absolute must for any landlord and will shield you from costly employee injury claims.
- Contents Cover: This will cover your furniture, fittings and appliances up to £50,000 if something goes awry with them.
- Emergency Boiler and Heating Repairs: This service offers landlords peace of mind in the event of an unexpected breakdown or failure of their boiler and central heating system. It can be added to any landlord insurance policy as an add-on, offering a fixed price repair work for quickly getting your property up and running.
- Home Emergency Plan: This popular plan offers landlords prompt emergency cover at just £15 per month, helping you avoid shelling out for costly callouts in times of crisis. It costs just £15 a month and can save you stress from covering these costs yourself.
Why Choose British Gas Landlord Insurance
Landlords can select from three plans: a boiler and heating cover option, including an annual gas, flu and control service. You may also opt for a comprehensive home emergency package with a breakdown cover package, home electrics, and kitchen appliance cover.
The service you receive will vary significantly based on the individual circumstances of your property and how experienced the provider is with dealing with similar issues. But suppose you are willing to put in the effort and research necessary to find a suitable landlord insurance policy. In that case, you can guarantee your investment is safeguarded against unexpected events.
TSB Landlord Insurance
Who are TSB Landlord Insurance
TSB Landlord Insurance offers three types of cover you can mix and match to suit your needs. Whether you’re new to the landlord or have been managing rentals for years, landlord insurance is necessary to protect your property and finances. Landlord policies come in various forms and may include additional features that could benefit you.
Features of TSB Landlord Insurance
- The Loss of Rental Income Endorsement – This endorsement will reimburse you for lost income if your rental property becomes so severely damaged that it cannot be habitable. This endorsement is invaluable if you’re renting out a single-family home or multi-unit apartment building and need alternate housing while the building is being repaired or rebuilt.
- The Renter’s Coverage Option – Depending on the policy, you can purchase a Renter’s Coverage option that reimburses you for any damages or theft to tenants’ personal belongings while they live in your rental. If there are many high-value items in your rental, this coverage could provide an affordable way to safeguard them.
- Equipment Breakdown Coverage (EBC) – This add-on is available for condo landlords with Lemonade who want to safeguard their property against unexpected electrical or mechanical failure. With a flat £500 deductible, EBC pays to fix broken appliances and electronics your tenants rent.
- Select and Protect – If you own multiple rental properties, TSB offers an insurance product that allows you to customise each property’s level of coverage at an affordable price. This convenient, flexible, and transparent product makes tailoring your policy according to individual needs a breeze!
- Guaranteed Income Coverage – This rider helps cover any extra expenses associated with replacing your income if you experience an unexpected financial hardship due to a job loss or illness.
| Features | Buildings | Contents | Starter contents |
| Cost of rehousing tenants | ✓ | ✓ | ✗ |
| Malicious damage caused by tenants | ✓ | ✓ | ✓ |
| Loss of rent if damage makes property unfit to live in | ✓ | ✓ | ✗ |
| Unlimited rebuild/repair costs on properties with five bedrooms or fewer | ✓ | ✗ | ✗ |
| Loss/damage from events such as fire, storm and flood | ✓ | ✓ | ✓ |
| Loss/damage from theft or vandalism | ✓ | ✓ | ✓ |
| Property secured within two hours after a break-in | ✓ | ✗ | ✗ |
| Range of claims payment options – from cash to Amazon vouchers | ✗ | ✓ | ✓ |
Why Choose TSB Landlord Insurance
If you have more than one property you might choose Buildings Cover for one, but Buildings and Starter Contents Cover for another. It’s up to you – but TSB are here to help tailor a bespoke package to your needs.
Towergate Landlord Insurance
Who are Towergate Landlord Insurance
As a landlord, you may require insurance to safeguard your property and assets. Towergate can assist with finding the ideal cover for your requirements; their network of insurers offers policies tailored to various circumstances.
Features of Towergate Landlord Insurance
- Landlords cover from £15.78 per month
- Compare landlords insurance quotes from our panel of leading brands
- Get covered and your documents on the same day
- UK-based support online and on the phoneTowergate also offers comprehensive landlord insurance policies with various additional coverages such as letting fees, loss of rental income and liability protection. These can be especially helpful if you have an extensive portfolio of properties or are renting to high-risk tenants.
Why Choose Towergate Landlord Insurance
Towergate offers landlord insurance and a range of other policies to cover any need: from car and travel coverage to business, care home and commercial vehicle cover. As an established provider, they have earned a reputation for excellent customer service.
Towergate employs IBM Watson Marketing Account Direction software to oversee customer journeys, fine-tune email and campaign strategies, and enhance data management capabilities. This has allowed them to launch campaigns 66 per cent faster than before while gaining greater insight into customer behaviour so they can create tailored marketing content specifically for each person.
Co-Op Landlord Insurance
Who are Co-op Landlord Insurance
Co-op landlord insurance is a type of property coverage that protects your apartment or condo unit and personal belongings in a building managed by a corporation. While more complex than homeowner or renter policies, co-op landlord insurance can help you avoid expensive repairs or replacements down the line.
Regarding homeowners and renters insurance, a wide range of policies is available. It may be challenging to determine which coverage is right for you; if in doubt, consult an experienced insurance expert for guidance.
Features of Co-op Landlord Insurance
- Co-Op are renowned for their customer service
- Co-op Group has one of the UK’s leading convenience retailers
- Choose from £2m, £5m and £10m cover levels.
- Damage to property covered – Including buildings, communal contents, and glass.
- Accidental damage cover available – For both buildings and contents.
| Co-Op Landlord Insurance Details | |
| Cover type | Amount of cover |
| Property owners liability | £2m, £5m or £10m |
| Legal expenses | £10,000 as standard |
| Finding leaks | £50,000 |
| Fire and security equipment | £50,000 |
| Tenants debris removal | £5,000 |
| Unauthorised use of metered services | £5,000 |
Why Choose Co-op Landlord Insurance
Whether you need insurance for a one-off buy to let, or for several properties, including individual flats, you can get tailored landlord insurance cover from Co-OP to suit your needs.
What does Landlord Insurance cover?
Landlord insurance policies usually cover damages incurred in a property or home that you are renting out. There are also service items used for the property that are also at times covered by Landlord Insurance. Here is an overview of what is covered by most Landlord Insurances.
Property damages: Your Landlord insurance will help alleviate and cover the costs of repairing your rental property in case of fire of flood. It will also cover costs for the repair of the structure of the building or for damages to some items that were provided by you as part of the rental property.
These could include built-in features, such as a fitted kitchen or bathroom, or furniture, such as beds, sofas, carpets etc. That were provided by you as part of the rental agreement that you had made.
It will also help cover the costs of your boiler breaking down or any repairs that need to be made in your properties plumbing or electrical systems.
In the case that your tenants are the ones to cause accidental damage to the property, repairing that damage is also covered by your landlord insurance policy. This means that you will not need to worry as much about any repairs that appear during a tenancy or even after it, as property damages are usually covered by your insurance policy.
Property’s other structures: If the property that you are renting out is a house then it might be that there are other structures within your property. Your landlord insurance policy covers repairs on structures that are detached from your dwelling, but still are a part of your property. These could include a shed or a detached garage or even simply a fence line. All of these structures are part of your property and as such any damage caused to them will be covered by your insurance policy.
Personal Property: If you have provided your tenants with any equipment for the maintenance of your rental property, these could include a lawnmower or snow blower, and the equipment becomes damaged, your landlord insurance should be able to assist with covering the damages caused. Be aware that this part of your policy does not include any items that were left behind but they are not used for the servicing of your property (such as a TV, bicycles, home cinemas, audio systems etc.).
Landlord liability protection: In the case where one of your tenants or someone else incurs damages that are determined by court to have been your fault as you failed to maintain the property properly, you will be responsible for covering both the legal expenses as well as the medical bills of the person who got hurt. Your landlord insurance protects you as it can cover both the legal costs of having your case taken to court as well as any medical expenses that the court determines you should be responsible for.
Rental income: If your property is not able to be rented out due to property damage then that would mean that there would be a period of time in which you would not be able to receive your rental income. In these cases, your landlord insurance could cover your rental income, which means that you would not incur as big of a financial loss as you might have had it not been for your insurance policy.
Many landlord insurance policies will also cover rent loss caused by vacant periods between tenants moving in and out of your rental property.
If you are renting out a property and you are worried about any of aforementioned potential damages then you should consider getting a landlord insurance.
Landlord Insurance: What extras can I add to my policy?
While your landlord insurance covers most of the most common types of property damages there are also many extras that you can consider adding on to your policy. These are often determined by the geographic area that your property is located in or the condition that your property is in. Here is an overview of some of the extras that you could add to your landlord insurance policy.
Vandalism: Cases of Vandalism damage are not usually covered by landlord insurance policies, unless it is added as an extra. If you know that in your area there are many vandalism cases you might want to consider getting vandalism coverage. This coverage will mean that repairs that need to take place so as to restore the property will be covered by your insurance policy and as such you will not be responsible for bearing the entire financial cost of repairing the property.
Burglary: This is another form of damage that is not traditionally covered by your landlord insurance policy. If your house is broken into and there are damages to your property you would need to take care of those costs on your own, unless you have purchased an extra within your policy that assists you in covering those costs. It is important to note that burglary coverage does not include replacement of stolen items. For covering theft, you might be able to add an additional option that helps cover the cost of stolen appliances left in the property.
Property under construction: If you have a property that is not yet ready to be rented out as you are in the midst of renovating or building the structure you could consider purchasing a policy which protects your structure until construction is completed and you are able to rent it out.
Building codes: Depending on your area when repairing parts of your rental property you might also be legally required to upgrade you wiring, or ventilation system. This is because city policies might have changed since your property was initially constructed and as such, it no longer fits the current legal standards for a rental property. Normally, making these upgrades would be costly, but if you have purchased this extra your insurance policy could reimburse you for part of the costs of the repairs and replacing the parts of your property that need to be replaced for it to fit the current standards.
These extras are important to consider when you are determining which policy and company you wish to use for your landlord insurance. Depending on your area some extras might be more necessary than others, but in any case, these will allow you to have peace of mind when you are renting out, repairing or building your rental property.
Landlord Insurance policies: What is not covered?
While we have covered what coverage your landlord insurance policy can provide for you, the following list will cover some of the things that are not currently covered under most landlord insurance policies. These could include the following:
Tenants’ belongings: Your landlord insurance policy will not cover any of the damages or loss of tenant belongings (as mentioned above regarding burglaries). If your renter would like these items insured, they can purchase their individual insurance policy, which will cover damages to their items. As a landlord you also have the right to request that all your tenants purchase a renters insurance policy and provide proof of this policy as part of approving the contract. This type of insurance can cover the tenant’s belongings in cases of theft or in cases where the property got damaged in a flood or fire and their items were destroyed. You can read more about renters insure by clicking here. If you would like to read more about the reasons you should require your tenants to get renters insurance you can click on the following link.
Maintenance and Equipment: Any maintenance in your property that does not relate to your actual property but rather to the furnace, dishwasher or laundry machine in your property is most likely not covered by your landlord insurance policy. Any repairs or replacements of this equipment will need to fully be covered by your and your insurance company will not be able to reimburse you for any of this damage.
Property Shares: You will not be able to get a landlord insurance if you are sharing a property. The reason for this is that most landlord insurance policies have it as a rule within them that the owner of the property is not allowed to occupy the property. What this means is that if you live in a house and you are looking to rent out one of the rooms in your house while you are still occupying it, you will not be eligible to add a landlord insurance policy to your property. What you could attempt to do is that you could try to upgrade your current home insurance policy so that it can cover more damages than it previously did. More importantly, you can check if there is a liability policy that you can add within your already existing home policy, so that you can be covered in any liability case that might arise.
What is the cost of Landlord Insurance?
Finding the correct landlord insurance for you might be hard, but one of the main things that you will need to consider is what is covered under your landlord insurance policy and at what cost. Simply finding the cheapest landlord insurance policy, but then having it not cover everything within your property is something that you should avoid.
So, when choosing your landlord insurance, it is useful to remember some of the factors used to determine the cost of your landlord insurance. Here is an overview of some of the factors that are used to determine the cost of your insurance.
1. Location: Depending on how safe the area that your property is located in is, you might be required to pay more or less for your insurance.
2. Claim history: If you have previously made many claims and have a large claim history you might find that your landlord insurance comes at a higher cost.
3. Level of coverage: Depending on the level of coverage you need the cost of your insurance might be higher. This includes the maximum limit that your insurance will be able to cover as well as all the deductibles and limits in your policy. Any extras that you add in your policy will also affect the cost.
4. Property Security: Alongside the location of your property, the security measures already installed in your property, which includes alarms and security locks, can help lower the costs of your landlord insurance policy.
5. Condition: If your property is in a well-preserved condition, then your insurance costs will be lower.
6. Tenant history: Regarding the rent guarantee that is part of your insurance policy you might find that your tenants employment status and history can affect how much your insurance policy is willing to cover. The more secure your tenant’s employment is the more your insurance policy will be willing to cover for you.
Choosing the correct insurance for you can be hard, especially considering how many different insurance companies are out there offering different services at a different cost. This is why we recommend reading a comparison list of the best and most commonly used available policies. In this way you can get an idea of what is usually offered in a landlord insurance policy. If you would like to read a comparison of some of the best insurance policies currently available you can click here.
Once you have gotten a better idea of what some of the best offers for landlord insurance policies are you can visit our website to receive customised quotes for your landlord insurance. In this way you will be able to compare what the price range for landlord insurance policies available to you is and thus you will be able to make a more educated choice regarding your own insurance policy. To use our price comparison and quotes service you can click here.
Is Landlord Insurance necessary for my rental properties?
While we have covered what is and what is not covered by Landlord insurance policies you might still be left wondering whether it is necessary for you to get a landlord insurance policy for your rental properties. A landlord insurance policy might not be a legal requirement for your rental properties depending on where your property is, however it is highly recommended that you consider getting one as it covers both damages and liability cases that could arise from you renting out your property.
You might be thinking that your standard home insurance policy is enough to cover any of the costs of damages incurred for your rental property, whether those damages were made deliberately or accidentally. However, that is not the case usually as your home insurance policy is most often invalidated as soon as you rent out your property. This is something that you can always check in your current insurance policy, but in most cases standard home insurance policies will not allow you to file claims for properties that have been rented out or leased.
Finally, if you have decided to purchase rental properties as an investment and are looking to get a buy-to-let mortgage you might find that a landlord insurance policy is a mandatory requirement for qualifying for your loan. This is because the bank will want to ensure that the property that you are purchasing through a mortgage is appropriately insured for damages, and as most standard home insurances wouldn’t cover a rental property, as such, a landlord insurance is required.
Having a landlord insurance policy in place means that your property will be safe from damages so in case of any damage caused you will not lose income to the same extent that you might have lost it should the policy not have been in place. It will also mean that you will have a liability policy so in the case of any claims made against you, you will not have to bear all the medical and legal costs on your own. This is why it is important to consider getting a landlord insurance policy so that you can have security when renting out your property.
James Ward is CEO and founder of CompareYourBusinessCosts.co.uk, a website that won the Prestigious ‘Website of the Year’ only in its second year of operations in 2015. The website has grown organically since then offering comparisons on over 20 different products including insurance, energy, telecoms, card machines, coffee machines and much more. James has a range of interests including horse racing, skiing, rugby and boxing. He splits his time between home family life, friends, exercise and socialising.