What is landlord insurance?
Landlords insurance provides protection for your property, any tenants you have and rental activities that you carry out.
This can be regardless of whether you rent properties as a professional business or as a second-income generator.
Why do I need landlord insurance?
What should my landlord policy include?
A good landlord insurance policy should include:
- Public liability and property owner’s liability cover
- Alternative accommodation costs
- Loss of rent cover
- Glass and lock replacement
- Contents insurance
If your property is furnished its your responsibility to have contents insurance for the items you own, as well as any fixtures and fittings
What is public liability insurance?
Public liability insurance provides cover should a tenant, visitor or workman become injured or their belongings damaged as a result of a fault in your property.
What is loss of rent cover?
This provides cover should your property become uninhabitable due to damage, for example fire or flood. In the event of a claim, cover generally offers around 12 to 36 months of lost rent.
Am I responsible for contents insurance?
Tenants should have their own contents insurance for items they keep in the property. However, if your property is furnished, it’s your responsibility to have landlord contents insurance for the items you own, as well as any fixtures and fittings.
Do I need legal expenses cover?
The following can run up some expensive legal fees for landlords, so insurance cover is an option worth considering:
- Property protection
- Tenant default
- Contract disputes
- Debt recovery
- Tax protection