Protect Your Investment with Landlords’ Insurance
As a property owner, your rental properties are a valuable investment that needs to be protected. A comprehensive landlords’ insurance policy can provide the necessary coverage and peace of mind for any potential risks and losses associated with renting out your property.
What is Landlords’ Insurance?
Landlords’ insurance is designed to shield property owners from financial losses related to their rental properties. This insurance policy covers the building itself and can also include coverage for any landlord-owned contents inside. Often referred to as buy-to-let insurance, it’s essential to note that this is just one type of landlords’ insurance.
While buy-to-let insurance typically covers a single property purchased with a buy-to-let mortgage, multi-property insurance is available for those managing two or more rental properties. Each type of landlords’ insurance offers unique coverage options tailored to fit your needs
What Does Landlords’ Insurance Cover?
Policies generally generally cover standard perils such as:
- Fire
- Lightning
- Explosion
- Earthquake
- Storm
- Flood
- Escape of water/oil
- Subsidence
- Theft
- Malicious damage
Coverage may vary by policy, with additional optional coverage that can include:
- Accidental damage
- Malicious damage by tenants
- Terrorism
- Legal protection
- Alternative accommodation costs
- Contents insurance
- Rent guarantee insurance
- Liability insurance
Remember that landlords’ insurance policies typically do not cover personal property belonging to tenants. However, a liability policy can offer protection to landlords or property managers, ensuring tenants are covered in case of a loss for which the landlord is responsible.
