Why is Landlord Insurance necessary?

If you are a landlord, then it is important to consider protecting yourself and the tenants in any properties that you rent out. Although there is no there is no legal requirement to have insurance, we have a number of policies available which have been specially designed for landlords as standard buildings and contents policies may not provide sufficient coverage.

The cover available with a Landlords’ insurance includes many similar types of protection usually provided by a home insurance policy, such as buildings and contents, to protect you in the event of a range of circumstances. The Landlords’ insurance also provides additional covers for the extra risks that arise when renting a property out to tenants.

Covers available as standard on a Landlords policy, which may not be available on your standard home insurance include:

  • Loss of Rent: Insurers will pay for the “Loss of Rental Income” during the period of time the property remains unoccupied as a result of an insured peril such as, lightning strike, storm, flood or fire.
  • Employers Liability: this will cover a landlord if they employ a person to carry out regular tasks such as maintenance, gardening, cleaning and caretaking duties.