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What is landlord insurance?

Landlord insurance protects property owners by such useful covers as buildings insurance, protection against loss of rent and other financial losses related to damage to your property and/or its contents. Many mortgage lenders make it a requirement of taking out a buy-to-let mortgage. Landlord insurance is different from normal home insurance as its scope is more specific – unique risks of a landlord against damages to their property.


Core elements

Landlord insurance covers differ as they can be tailored to your specific tenancy agreement and your requirements, however, a typical landlord insurance policy commonly covers the following:

  • Buildings insurance, including accidental damage, subsidence and other things that threaten the security of your property such as loss or theft of permanent fixtures
  • Contents cover, including accidental damage
  • Property owners’ public liability, which covers you if a fault with your property leads to an injury of your tenants and damage to their contents.
  • Alternative accommodation insurance, which provides you with cover if your property gets uninhabitable due to a disaster such as fire or flooding.
  • Landlord legal cover, covering the cost of legal fees in the event of any disputes with your tenants, including loss of rent. 
  • Employers’ liability if you have staff helping you look after your properties. 
  • Terrorism cover (optional) – if your rental property is a block of flats in a major city, you may want to have this additional cover.

What are some optional extras of landlord insurance?

Extra forms of protection in landlord insurance policy that are often excluded, but can be added include:

  • Alternative accommodation cover can be optional. It protects the landlord if their property becomes uninhabitable and they have to provide an alternative residence to their tenants.
  • Accidental damage, which covers damage of landlord’s property due to unintentional breakage or spillage.
  • Impact cover, protecting against structural damage due to vehicles, falling trees, animals and aircrafts.
  • Home emergencies cover, covering the cost of repairs to gas, electricity, heating or water supply.
  • Mix of commercial and residential properties within the same policy, which is important in case the landlord owns a mixed use development.

There may be situations when it is not clear who is responsible for certain aspects of the tenancy. In the vast majority of cases, the tenant’s and landlord’s responsibilities will be defined by the tenancy agreement and in some instances, landlords may even be legally required to fulfil certain obligations. However, there’s still a chance that there could be doubts as to which party is responsible for resolving a given issue. In the worst-case scenario, good landlord insurance is always important to have in place in the event that an expensive liability falls on you as the landlord. Landlord insurance is not only about getting the right cover for your needs, but also at the right price, which is what we at MBC specialise in.

Click Online Quote, fill in the quick form below or call us on 0203 797 1287 to arrange protection for yourself and your properties now. 

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