What does landlord insurance cover?
Find out how landlord insurance can protect you against property damage, liability claims and loss of rental income
Landlord insurance offers specialist cover for your rental property. In the same way that you should carry out a tenant check, create a landlord inventory, or do regular property inspections; it is another way of protecting your investment.
Landlord insurance specifically protects the landlord against the financial losses and risks connected to letting a property.
This includes things like fire, theft and storm damage, but also includes cover for landlords’ legal liabilities if an injury or loss is suffered by a tenant because of a fault with the buy to let property, or as a result of rental activity.
Fire: Between 2019 and 2023 fire was the highest paid peril – the highest paid claim during this period was for an eye-watering £360,200.00 and the average claim amount was £26.552.26.
An uninsured fire claim like the one in the graphic below would leave you seriously out of pocket.
Different types of landlord insurance cover different risks. A policy could cover things like damage to the building, loss of rent and claims made against you if someone is injured.
Most landlord insurance policies include building insurance and property owners’ liability insurance as standard.
Our article, ‘Seven surprising reasons why you need landlord insurance’, explores some of the unexpected problems landlords need to protect their property from.
As you’d expect, we’re often asked, ‘How much is landlord insurance?’. The reality is that the cost of your landlord insurance varies depending on the level of risk your property presents.
And this level of risk will be influenced by the type of property, where it is, the level of cover you require and your claims history. However, as well as providing very competitive prices for landlords, unlike many insurers, at Total Landlord we accommodate all types of tenants – whether that’s students, those on benefits or in HMOs – with no difference in cover or price. Find out more about our HMO and student landlord insurance.
Our Essential policy is there to make sure you are covered for what we consider to be the essential risks involved in renting out any property. Though what we see as essential goes above and beyond many others.
What’s more it is very competitively priced, according to an independent panel. And you can bolt-on any options you see fit to match your individual circumstances.
Our Premier policy provides you with greater peace of mind, and less worry even if you have an unusual portfolio. As you’d expect this is reflected in the premium you pay, but we know that even with the standard cover, with no additions added, it is one of the most comprehensive policies available to landlords in the UK.
To find out which landlord insurance cover is best for you, get in touch with the team at Total Landlord Insurance by calling 0800 63 43 880 or get a quote online.
