Landlords Insurance Quote

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What Does Landlords Insurance cover?

The type of landlords insurance varies depending on your requirements and property type against. Typically landlords insurance offers you specialist cover for

  • Damage to your property
  • Your contents
  • Loss of rent
  • Compensation claims for when someone is injured in the property

Do I need Landlords building insurance?

Landlords building insurance provides cover to the property’s structure, for example, the walls and roof, kitchen units and bath suite.

If you were to take out a standard home policy but rent the house to tenants, you run the risk of not being protected in the event of a claim.

Furthermore, if you are buying the home with or have an existing mortgage on the property, your mortgage provider will likely require a specific landlord’s cover in place.

However, if you have purchased a flat or apartment, you may not need building over as the freeholder would cover this, but you may require contents cover. It is worth checking the details with the freeholder.

Do Landlords Need Contents Cover?

Contents insurance for landlords provides cover for items you leave in the property against damage or theft. Common items are white good and furniture.

Contents cover also includes carpets, curtains and lampshades, so you may still choose to insure the contents even if the home is let out on an unfurnished basis.

It’s important to note that a landlords contents policy doesn’t include your tenant’s contents

What is Loss of Rent Insurance?

Loss of rent insurance usually forms part of your buildings policy and will pay out if the property is uninhabited for some time after an insurable event such as fire or flood. It’s important not to confuse this with tenant default insurance, which is different and detailed below.

Tenant Default Insurance

If your tenant stops paying the rent for more than two months, you may be able to claim for missing rental payments. When buying this type of insurance protection, you’ll need to make sure you carried out credit checks and referencing at the start of the tenancy.

Landlords Liability Insurance

Landlords liability insurance will protect you against compensation claims arising from injuries sustained at your property from a tenant or visitor. Claims of this nature can be of high value and costly, so having liability cover in place will cover you against the claim’s cost and the associated legal expenses.

How does the type of tenant type affect landlord’s Insurance?

Tenant type is one of the many factors that insurance companies use when calculating the type of policy, you need and how much you pay for it.

When considering landlords Insurance, it is important to correctly detail the type of tenant you will be renting the property too.

 

  • Professional Tenants: Professional tenants are people who work and pay their own rent.
  • Tenants seeking asylum; Not many insurance companies will provide cover for tenants seeking asylum. Finding cover can be quite complicated. If you are renting to asylum seekers, you must declare this to your insurance company.
  • Tenants on Benefits; Some insurance companies will cover tenants on benefits, and others will not. To ensure you have the correct cover in place, you’ll need to declare the right type of tenant on your insurers.
  • Students; If you rent to people in full-time education, they need to be declared on your Insurance as they are often seen as a higher risk to insurance companies due to their youth and inexperience running a household. Statistically, students tend to make more claims than professional tenants.

If you are unsure or need advice regarding your landlord’s Insurance, contact All Sport here for a quotation, and our team of specially trained advisors will be happy to assist you.

Why Choose All Sport for Landlords Insurance?

Our team of trained advisors can offer you the additional protection of legal expenses cover, home emergency cover and liability Insurance and even employers’ liability cover if you employ a team.

-Thoroughly trained insurance specialists who search the market for you

-Exclusive use of the free All Sport App, so you can access all your essential insurance information at your fingertips.

-Our claims line operates 24 hours a day, 365 days a year, so we are always here when you need us the most

-Flexible monthly payment options are available to help you spread the cost of your Insurance