Landlords Insurance for single properties to property portfolios
With property owners and public liability insurance all in one policy
As a professional landlord, you may let out an individual house, a block of flats, or own a property portfolio of residential or commercial premises. No matter the size or number of properties you own it is crucial that you protect your property business against financial loss with a bespoke landlord insurance policy.
There are many risks associated with renting property out to tenants, as any building can be susceptible to damage from natural causes such as storm or fire damage. Property rental requires investment in time and money, which is why a landlord’s insurance policy from The Insurance Octopus will help to protect your financial security.
What your landlord insurance policy includes
Buildings insurance for landlords
This cover includes protection against risks such as fuel leakage, falling trees, loss of oil or unauthorised use of utilities.
Landlord Home Emergency Solutions
Providing solutions to respond to potential household emergencies, this cover can be bought alongside your landlord business insurance policy.
As a landlord you are legally responsible for contents, fixtures and fittings of the property. Usually arranged on a new for old basis, this ensures contents are covered.
Loss of Rent / Alternative Accommodation
If you are unable to tenant your premises due to a claim, for instance if your property has been damaged, this cover will protect financial loss of rental income
Day 1 Inflation Provision
Day 1 Inflation Provision provides cover if a standard contract increases the building sum insured, using figures published by the Royal Institute of Architects. Optionally, the amount of cover can also be increased by certain amounts varying from between 15% to 50%, to provide additional protection against the effects of inflation.
Employers Liability protects an employee against accidents and is a legal requirement f you hire employees to help manage your properties.
Terrorism cover standard does not provide cover for any loss or damage caused by direct or indirect acts of terrorism. However, there is an optional extension for premises in England, Wales and Scotland but you must request this cover if required.
Have you considered Landlord Home Emergency Solutions?
As part of our on-going commitment to our customers, The Insurance Octopus now offers Landlord Property Emergency solutions. This cover is exclusive to our Landlord insurance policy holders and provides round the clock response to emergencies which exposes your property or contents to damage, compromises security or causes health and safety risk to tenants.
Partnered with one of the largest providers of legal insurance, ARAG, we are able to bring you the benefits for just £70 a year. Call our landlord experts today on 0161 968 2044 to find out how you can benefit from this policy.
Why you need landlord insurance
Landlords public liability Insurance or property owners liability insurance is essential for renting out properties for residential purposes. As a landlord, you have a legal responsibility for the safety of your tenants and those who may visit the property.
If you are unable to rent your property out because of an insured claim such as flood or fire damage, you are able to protect your income with loss of rent coverage within your landlord insurance policy with The Insurance Octopus.
Legal bills and compensation pay-outs associated with these kinds of cases can be very costly, so it is important to protect yourself. Public liability insurance will provide financial support if a court case is brought against you. As part of your landlord insurance quote provided by The Insurance Octopus, you can be ensured that it includes this for peace of mind.
Bespoke cover arranged in minutes
When you’re considering taking out a policy, one of The Insurance Octopus Landlord Insurance experts will discuss your business requirements with you and compare personalised quotes from a number of major UK insurance providers. You will get a bespoke policy that ensures you only pay for the cover you need.
Landlord insurance experts
We can add cover for rent guarantee, accidental damage and sector-specific cover tailored to you. We can provide you with your business insurance and documents on the same day in most cases, offering a range of flexible payment options, including Direct Debit. Speak to us today to get a quote.
Why choose The Insurance Octopus for Landlord Insurance?
We proudly make buying insurance different and our cover comes with a range of benefits.
Up to £5 million of cover
Claims can be expensive, that’s why we offer up to £5 million worth of public liability cover for shops. With more available upon request.
Fast specific cover
To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.
A expert who knows your industry
We'll connect you with an agent who is an expert in your field. They understand many of the challenges you face, and can truly get to grips with the type of cover you need.
Easy claims process
Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to make the claims process as quick and stress free as possible.
Octopus customer rewards
We pride ourselves on the value we offer our customers, and with Octopus Customer rewards we give our customers a few additional benefits to their insurance such as discounts and offers to save them money.
No mid term fees, ever
We don’t charge any mid-term fees at all during the life of your policy – so there are no hidden fees following any changes you might need to make.
How it works
Examples of Landlord Insurance in action
A £5,000 case of flood damage
Following a period of heavy rain or a plumbing problem, one of your tenanted properties has carpet and wall damage which urgently needs to be repaired. The property is now uninhabitable, causing your tenant to leave. The repair work required is significant leaving your property vacant for six months, causing a rental income gap of £5000. Your Landlord Insurance cover protects you from the financial loss of rental income as a result of the property damage claim, giving you peace of mind and security.
The £3,000 compensation claim
A fire caused by an electrical fault has caused damage to your property and to some of your tenant’s personal possessions. The tenant has had to move at short notice to a more expensive property and needs to replace expensive possessions very quickly. The tenant starts legal proceedings against you, claiming the cost of loss of earnings, time lost and compensation for the replacement of personal possessions. Landlords Public Liability Insurance also known as Property Owners Liability Insurance ensures that any legal defense bills or successful compensation claims against you are covered, giving you peace of mind.