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Landlord insurance is home insurance designed for rental properties, often combined with other insurance options for landlords. It includes one or more of:
Landlord insurance isn’t a legal requirement, but if the worst happens it gives you vital protection for your property investment. Many mortgage lenders make it a requirement of taking out a buy-to-let mortgage.
Your home insurance may not cover a rented property if you’re not living there. That’s because there are issues with rental properties that aren’t likely to arise with the property you live in:
As you can see, regular home insurance isn’t designed for the specific issues that landlords might face, and your policy might not cover any claims you need to make – or claims made against you by tenants.
It depends on a few factors. Let’s take a look at the options and see why you might need them.
Because the extent and cover of commercial landlord insurance premiums vary, make sure you compare landlord insurance policies to get a deal that’s right for you.
If you rent out multiple properties you have a couple of options for landlord insurance:
Costs vary based on things like the size of the property and the type of cover you choose. Do I need any information from my tenants? The more information you have, the better. This doesn’t give you the right to be nosey, but knowing who your tenants are and what they do could work to your advantage and give you comfort that they can pay the rent. Insurance providers may see tenant referencing as a demonstration of good risk management, which could help you get more tailored policy terms.
Cheap landlord insurance isn’t always the best solution – it’s about getting the right cover for your needs. That’s why we’ve made it easy to compare landlord insurance at Compare the Market – just tell us what you need and we’ll do the searching for you. Then you can compare prices and choose the landlord insurance quote that suits you. Get a landlord insurance quote that suits you.