What is Landlords’ Insurance?

Landlords’ insurance is a protective policy designed to shield property owners from financial losses associated with rental properties. This coverage extends to the building itself, with the option to insure any contents owned by the landlord that are housed within. While often referred to as buy-to-let insurance, it’s crucial to note that buy-to-let insurance is a subtype of landlords’ insurance. It’s essential to differentiate between buy-to-let insurance, which typically covers a single property acquired with a buy-to-let mortgage, and multi-property insurance, which extends coverage to two or more properties. These variations in landlords’ insurance cater to different needs.

What is Typically Covered by Landlord Insurance?

A standard landlords’ insurance policy typically covers common perils such as fire, lightning, explosion, earthquake, storm, flood, escape of water/oil, subsidence, theft, and malicious damage. However, coverage specifics vary among insurance policies, and not all items may be included. Optional coverages might encompass accidental damage, malicious damage by a tenant, terrorism, legal protection, costs for alternative accommodation, contents insurance, rent guarantee insurance, and liability insurance.

It’s important to note that landlords’ insurance policies generally do not extend coverage to personal property belonging to tenants, nor do they safeguard the interests of tenants. However, a liability policy protecting a landlord or property manager can be beneficial to tenants in the event they incur a loss for which the landlord is responsible.

Contact us to gain further insights into the landlords’ insurance policy that aligns with the needs of your property.