What is property owners and landlords insurance?
Landlords insurance protects the property you let and the rental incomes that comes with it. It’s also known as property owners insurance, and is built for commercial landlords, buy-to-let investors and portfolio owners. The insurance covers the buildings, loss of rent and liabilities that come with letting property. We’re able to arrange cover for single properties and larger portfolios.
What does landlords insurance cover?
- Buildings and structures
- Loss of rent
- Property owners’ liability
- Accidental and malicious damage
- Loss of income following an insured event
- Cover for single properties or full portfolios
Do landlords need insurance?
Landlords insurance is not a legal requirements, but having it is strongly advised. If your property is mortgaged, your lender will usually require buildings insurance as a condition of the loan. Standard home insurance does not cover a property that you let out, so landlords need cover built around the risks of renting.
Do landlords need contents insurance?
If the property you let is furnished, then contents insurance protects the items you own inside it, such as furniture, appliances and carpets. It does not cover your tenants’ own belongings, which are their responsibility. For unfurnished lets, contents cover is usually more limited but is still worth considering for communal or shared areas.
How much does landlords insurance cost?
The premium depends on factors such as the type and value of the property, its location, the number of unites and the level of cover you need. We compare the market to find the right cover for the best price.
Speak to our team today to arrange your property owners and landlords insurance quote.