Landlord Insurance

Many landlords ask, "Is it worth getting landlord insurance?" Whilst it is not a legal requirement for you to have landlord insurance, be aware that a standard home insurance policy may not cover your property, if it is used for rental purposes. Landlord insurance is there to cover the cost of damage to your property and help protect your investment from a range of hazards.

Buildings and Contents Insurance can allow you to be confident that your investment has protection. Just Landlords can cover both the structure of your property and contents you provide.

You could especially benefit from liability cover, in case an accident happens within your property and you’re found to be legally liable for an injury to a third party person.

It is also often a requirement by mortgage lenders for you to have landlord insurance in place, before you can let to tenants – if you do not, you may be breaching your mortgage terms.

The cost of each policy varies, based on your level of cover, location and a number of other factors that we use to assess your level of risk. We would always recommend that you compare landlord insurance policies to ensure that you are getting suitable cover and value for money for your property.

Our insurance policy offers 40 covers as standard.

In order to help protect yourself and your property, it’s crucial that you consider having buildings insurance at least – our policy covers your legal liability as the owner of the property, as well as including £5,000 worth of cover for carpets, curtains, blinds and white goods when the building is tenanted*.

This policy includes 40 covers as standard for landlords.

If you’re worried about your tenants falling into rent arrears, you may also want to think about taking out Rent Guarantee and Legal Expenses Insurance. This is cover that helps protect your rental income against tenant rent default and the cost of evicting a non-paying tenant.

If you have an unoccupied property, make sure you get a quote for unoccupied property insurance.

*Policy limits and exclusions may apply, please see the policy wording for full terms and conditions

The best landlord insurance can be subjective, but we have found that our product includes covers that other insurers may charge extra for or not offer at all.

If you compare landlord insurance quotes from various providers, we believe you’ll be impressed with the level of cover we offer.

It is not a legal requirement that landlords have landlord insurance in place to protect their rental properties. However, you must be aware that a standard home insurance policy may not cover your property when it is used for rental purposes.

You must also be aware that your mortgage lender may require you to have landlord insurance in place before you can let to tenants – if you do not, you may be breaching your mortgage terms.

Furthermore, if somebody is injured in your property and you’re found to be legally liable, you may need Property Owners’ Liability and Legal Liability as Occupier or Landlord cover – both are included as standard with Just Landlords buildings cover.

Landlord buildings Insurance covers the cost of repairing or rebuilding your property if it is damaged. Our 40 covers start with the basics, but include protection against loss caused by industry-specific perils, such as malicious damage by tenants. We also include cover against unauthorised alterations, including those carried out if the premises are used as an illegal drug farm.

Policy limits and exclusions may apply, please see the policy wording for full terms and conditions.

Contents insurance covers the furniture, fixtures and fittings that could be taken from the property. Although you are likely to take a deposit from the tenant to cover any charges for repairing or replacing your contents, it may not be sufficient. Taking out Contents Insurance helps ensure that you can bring the property back into use, if its furniture, fixtures and fittings are damaged or stolen.

Whenever you buy a house, it can be paramount that you protect the bricks and mortar against loss or damage – this is covered by a Buildings Insurance policy. Looking at our list, you will see a whole range of hazards that your property can be protected against under our Landlord Insurance policy.

While ensuring that the property you’ve invested in is covered against these perils, it is also important to consider the contents inside the property that you own. A Contents Insurance policy covers items within the home, such as furnishings. A good way to identify what counts as contents is to imagine flipping the property upside down – anything that falls down can be covered by Contents Insurance, rather than Buildings Insurance.

Suffering loss or damage to any part of your property could be detrimental to your lettings business, so having both types of cover in place can help protect your profits.

As a homeowner, you are not legally required to have home insurance – the same is the case for tenants. Your tenants are not legally obliged to protect their belongings in your property, but they won’t necessarily be covered by your own policy.

Your tenants should understand the importance of protecting their personal contents as well as those owned by the landlord, as these won’t necessarily be covered by your contents cover in the event of loss or damage.

As a landlord, you do not have the right to write into the tenancy agreement that your tenants must have their own insurance. However, you can advise that it is wise to protect their liability as a tenant for accidental damage to your property. You can explain the reasons for this when your tenant comes to sign the contract.

Visit our How to Make a Claim page for full information.