What can Landlord Insurance cover?
Landlord Insurance protects you, your property, and your tenants. You can build a Landlord Insurance policy to meet your needs, but some of the core elements include:
If your property is damaged by fire, flood, storm, or an accident, your buildings insurance will cover any repair work up to the sum insured. Normally, this includes fixtures and fittings too, i.e. built-in items such as the kitchen units, the bathroom suits, and the boiler.
Whether you’re renting out a fully furnished, or unfurnished property, your Landlord Insurance policy should contain contents insurance. Why? Because even in an unfurnished property, curtains, carpets and white goods could become damaged by your tenants and need to be replaced.
As a landlord, you have a duty of care to make sure your tenants are as safe as possible in your property. Property owners’ liability is a type of public liability insurance that protects you from the costs involved if a tenant does make a claim against you, including legal fees and compensation costs.
For example, your tenant could fall down the stairs of your property claiming the handrail wasn’t secure and make a claim against you.
We have a range of specialist policies, so whether you’re a commercial or residential landlord, have a house of multiple occupation (HMO) or just one lodger, we’ll make sure you have the right cover to suit your needs:
- Commercial landlord insurance
- Residential landlord insurance
- Commercial property insurance
Landlord Insurance optional extras
If you were faced with legal costs, for example, a dispute with a client, legal expense insurance will help to cover the costs involved.
From £16.99 per annum you’ll never have to worry about misplacing your keys again.
Interested in adding these to your policy?
*Limitations and exclusions apply to all these add-ons.
Who needs Landlord Insurance?
Put simply, if you rent a commercial or residential property to tenants, you need Landlord Insurance. This is because:
- It will protect you from risks you when other people rent your property, or when your property is vacant in-between lets.
- It will help guarantee your rental income.
There’s no legal obligation to have Landlord Insurance, but it’s normally a requirement of a buy-to-let mortgage lender. A standard home insurance policy will not cover you if you’re renting to tenants.
Why use GoSkippy 4 Business?
We are an insurance broker set up to bring you first class insurance at the most competitive prices we can find.
We search a range of market-leading insurers to find you the best deal.