Landlords Insurance

Landlords who require insurance generally fall into two categories, those who own residential property and those who own commercial property. Read our guide below on residential landlords insurance. Apply Now! Landlords insurance

The recent boom in the residential housing market across the United Kingdom is partly fuelled by many home owners buying property to let. Unfortunately ordinary home insurance is not designed to cover against the potential risks posed by letting a property. These can include malicious damage or vandalism caused by tenants, theft, fire, and injury caused to third parties (liability).

The type of home insurance cover offered to Landlords by an insurer who specialise in residential property varies, however, it is not untypical for landlords to purchase suitable buildings insurance cover to protect their property in addition to satisfying mortgage lending requirements, and also contents cover for their own possessions. The latter insurance is particular important for landlords who let furnished accommodation. In most cases, tenants possessions are not covered by landlords insurance, therefore, home insurance is available for tenants to cover their own possessions.

Landlords obtaining insurance quotes may have to declare the tenants' status, for example, those tenants who are unemployed or students, who, pose a greater risk as far as some insurance companies are concerned, therefore, consider obtaining a number of quotes. There are additional insurance products offered to residential landlords, these may include liability cover, business interruption, emergency home repair (plumbing, electrical, roofing), cost of temporary accommodation for tenants should there be a fire or flood, loss of rent, cost of accommodation if tenant refuses to leave on time and legal expenses.

Depending on the company used, some landlord's insurance products are packaged or bundled together. Fortunately the market for these types of products is becoming competitive, especially on the internet, therefore, it pays to shop around, however, always read the insurance policy terms and conditions before purchase.

Landlords who own commercial property are responsible for insuring the building and claiming premium payments from the tenants as business tenants would normally be charged (and expect to pay) for the building insurance. Additional cover offered to commercial landlords include liability insurance, legal cover, debt management and other bespoke policies. These are usually necessary requirements when running a commercial letting business.

Apply Now! Landlords Insurance

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