What is landlord insurance?
As standard, we’ll protect your building, and you’ll get property owner’s liability to protect you in cases of third-party claims of accidental damage or injury. You can also add contents, terrorism and employers’ liability insurance for further cover. .
Even with the best tenants, things can still go wrong, and landlord insurance is there to protect you.
What does landlord insurance cover?
Landlord insurance will always include buildings insurance as standard to cover any potential damage to the structure of your property caused circumstances such as fire, flood, or storms. It will also help with the costs associated with repairs.
Property owners’ liability cover is also included as standard and protects you against third-party claims – for example, if someone injures themselves on your property.
Subsidence, ground heave and landslip cover to cover land shifts under your property can cause considerable structural damage, but with this cover (which is a requirement of some mortgages).
You’ll also be covered for:
- Cover to re-house your tenants in alternative accommodation - if your property can’t be accessed or lived in due to damage, and your tenants don’t already have this cover under their own insurance, we’ll look to re-house them in the event of a valid claim
- Cables and underground pipes cover - we’ll pay you for the costs incurred following damage to pipes or cables, including essential utilities such as electricity, gas, and water. Please note: you policy can be extended to include trace and access to find the fault.
Contents cover is another important part of any landlord insurance policy as this covers any fixtures and fittings that might be covered over the course of a tenancy.
What is the difference between ‘fixtures and fittings’ and ‘contents’?
Fixtures and fittings covers thing like fitted kitchens, bathrooms, fitted carpets etc
Contents covers the moveable elements in your property, such as furniture; standalone appliances, rugs etc.
What property types does landlord insurance cover?
Landlord policies can cover any of the following property types:
- Bungalow
- House (detached)
- House (semi-detached)
- House (terraced)
- Individual flat
What doesn’t landlord insurance cover?
There are certain things that landlord insurance doesn’t cover as standard. Here are a few of the most common.
Common wear and tear
Wear and tear happens to all things, so if the damage to your property is a result of the natural aging of the building or standard use of the property then you won’t be covered for those type of repairs.
Please note: It is the landlord’s responsibility to maintain the property.
Loss of rental income
If your property becomes uninhabitable, due to an event such as a fire or flood, then standard landlord insurance won’t cover you for the rental income you’ll lose.
This is an optional extra you can add to your policy. So, make sure you choose this cover when you’re going through your quote.
Please note: Loss of rental income and rent guarantee are not the same thing. AXA don’t currently cover rent guarantee.
Your tenant’s contents
Your landlord’s insurance will only cover your contents that are supplied to a tenant – such as furniture and appliances – but it doesn’t cover a tenant’s personal contents once they move into your property.
If a tenant requires cover for their own items, they will need to purchase renters and tenants insurance.
Unoccupied buildings (over 45 days)
Landlords must let us know if their property becomes unoccupied. Once your property becomes unoccupied you’ll have 45 days full cover, after which your cover will be reduced and an unoccupancy condition applied.
Do you need landlord insurance in the UK?
If you let your property to tenants, you need more than just home insurance.
While you’re not legally required to have landlord insurance, there are risks associated with a rented property that won’t be covered under a home insurance policy. And without the right cover, unexpected events could leave you seriously out of pocket.
So, whether you let a small flat or a large house, we’ve got you covered.
How much does landlord insurance cost?
The cost of a policy depends on whether you are insuring a house or a flat, whether it is furnished and what your rebuilding sum insured is. This figure should be the cost you’d need to completely rebuild your home if it was destroyed.
It’s important that you give an accurate rebuilding sum when you’re getting a quote.
What can affect how much your policy costs?
There are several factors that impact how much your policy can cost. Here are just a few of these factors.
Rebuilding sum insured
The rebuild cost is the amount it would cost to completely rebuild your home if it was destroyed beyond repair.
Optional extras
Whether your policy is only standard cover or includes optional extras.
Property details
Various details such as the age, size, and number of rooms.
Location
Where your property is located - such as those in higher crime erate or in flood zones
Claims history
The number and age of any claims you've had in the past
Multiple properties
There is a cost associates weith every property you cover
Frequently asked questions
What is property owners' liability?
Property owners' liability protects you if a third party injures themselves on your property due to negligence on the landlord’s part. For example, a slate blowing off the property’s roof or a banister not being properly secured. In cases like this, you’re covered for the cost of any claims or damages made as a result of the injury.
As a landlord, you’ll have a desire to protect your property. But you also have a duty of care and potential liability if a third party (e.g., a tenant or a tradesman) is injured in your property.
For example, if your tenant trips on a badly-fitted carpet and breaks a leg, they might make a claim against you. If you’re found to be at fault, this will help you pay any costs/damages they are awarded.
What is a rebuilding sum?
This is the total amount it would cost to completely rebuild your home if it was destroyed completely. It should include the price of labour and materials and is typically less than your home's sale price or market value.
What is the difference between home insurance and buildings insurance?
Home insurance is a personal product as it relates to the home your live in. Landlord insurance protects a property that you own for the purpose of earning an income.
While they both cover same things – such as damage to the building – landlord is a more comprehensive product to cover a landlord’s more comprehensive needs.
To find out more, check out our guide to home insurance vs landlord insurance.
What is loss of rent insurance?
This type of insurance covers the money a landlord would lose if the property they’re leasing becomes uninhabitable, due to an event such as a fire or flood. If your tenants are rehoused, we’ll protect you for any loss of income.
An optional extra, you can add loss of rent insurance to your landlord insurance policy cover – which could be a small investment against a very big financial risk.
Are boilers covered by landlord insurance?
Most landlord insurance policies do no cover boilers as standard, though some providers will offer this as an optional extra.
Please note: not all providers offer boiler cover, so be sure to check before you purchase cover.
Who is responsible for damage to the garden – the landlord or the tenant?
Landlords are typically responsible any damage caused to the garden areas of their property. Any repairs are typically covered under your landlord insurance. Landlord insurance extends to cover boundaries i.e. walls, fences etc. It also covers damage to landscaped gardens by emergency vehicles.
Time to protect your property?
Property is a huge investment, so don’t let that investment go to waste when something goes wrong. Protect your property today and Future You will thank you.
Not everything can always be done online
There are a few exceptions when it comes to online quotes. This will only affect you if you’re trying to cover:
- More than 10 properties
- A mixed portfolio of commercial and residential properties
- A property outside the United Kingdom
If you do, we’ll need to get some more details from you to make sure we can give you a quote that meets your needs. You can call us now on 0330 159 1522 ◆
Looking for insurance for your commercial property instead? Visit our commercial landlord insurance page.
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