Compare landlord insurance

What is landlord insurance?

Landlord insurance is a specialised policy that protects property owners who rent out their properties. It covers risks such as damage to the property, loss of rent, tenant-related issues, and legal expenses.

It helps safeguard your investment, providing financial security and peace of mind in case unexpected situations arise, such as property damage or tenant disputes.

Why do I need landlord insurance?

Landlord insurance is essential for protecting property owners from potential risks, such as property damage, legal disputes, or loss of rental income. This coverage helps you manage expensive repairs, legal fees, and tenant-related issues. It may also be required by certain rental platforms or organisations. Additionally, tenants may prefer landlords with insurance.

With access to legal or professional advice, landlord insurance can provide valuable peace of mind as well as financial protection for your rental properties.

Compare landlord insurance quotes

When comparing landlord insurance quotes, it's important to understand the complexities involved. Factors such as credit checks, background checks, tenancy agreements, and deposit protection schemes can impact your policy and premiums.

However, finding affordable, comprehensive landlord insurance can be straightforward if you know where to look. By comparing policies from top providers, you can ensure you're getting the right coverage at the best price, protecting both your property and your investment with confidence.

Is landlord insurance mandatory?

Landlord insurance is not legally required, but if you have a buy-to-let mortgage, it is often a contractual obligation. Lenders typically require buildings insurance, and since standard home insurance isn't suitable for rental properties, landlord insurance is necessary.

If you're buying a flat, your service charge may cover buildings insurance, but it won't protect your contents. Even if insurance isn’t mandatory for your property, it’s still a wise investment to safeguard your rental asset and ensure protection against unexpected damages or losses.

What does landlord insurance cover me for?

Landlord insurance is designed to protect landlords from various risks associated with renting out properties. Key coverage options include:

• Buildings insurance: Covers property damage from events like fire, floods, or vandalism

• Fixtures and fittings insurance: Protects against theft or damage to installed items like lights and mirrors

• Liability insurance: Covers legal fees for injuries or damage to tenants or visitors

• Rental income cover: Compensates if the property is uninhabitable due to damage

• Rent guarantee: Protects against unpaid rent and related legal expenses

This comprehensive protection ensures your rental property investment is safeguarded from numerous risks.

What type of incidents will landlord insurance cover me against?

Landlord buildings insurance is the core part of every landlord insurance policy, and can help to cover your costs if your rental property ever suffers structural damage due to things like:

• A fire

• Flooding

• Storm damage

• Frost damage

• Vandalism

• Malicious damage caused by tenants

Some policies may also cover you for accidental damage, although this can vary from one insurance provider to the next.

What isn’t covered by landlord insurance?

Landlord insurance typically excludes coverage for properties let to local authorities with unknown occupants, homes unoccupied for more than six months, and certain tenancy agreements, such as HMOs with over five tenants or agreements under 180 days.

Damage resulting from fraud, dishonesty, or illegal activities may also be excluded. Always check your policy for full details on exclusions and limitations specific to your insurance provider.

Will standard home insurance cover my rental property?

Standard home insurance is not suitable for rental properties because the risks are different. Tenants may not notice or report issues like subsidence or rising damp, and rental properties may be more prone to vandalism or theft, especially during vacancies between tenancies.

Additionally, tenants might not take the same level of care with the property as homeowners do. These factors increase the risk of damage or loss, making landlord-specific insurance a more appropriate option.

What add-ons or optional extras can I add to my landlord insurance policy?

There are a number of optional extras that many landlord insurance providers will allow landlords to add to their standard policies to give them more rounded coverage, such as:

• Rent guarantee insurance

• Accidental damage insurance

• Unoccupied property insurance

• Landlord liability cover 

• Alternative accommodation cover

• Landlord home emergency cover 

• Legal expenses cover

How much does landlord insurance cost?

The best landlord insurance policies provide crucial protection for one of your most valuable assets, so it’s important to choose the right policy based on your property's needs, not just the cheapest option.

Factors influencing the cost of landlord insurance include:

• The number of properties you rent out

• The type and age of the properties

• Location and local crime rates

• Property history (e.g., subsidence, flooding)

• The coverage options and limits you choose

*10% of landlords paid £12.95 a month or less for their Superscript insurance between January and March 2023.

How can I find the best landlord insurance quotes?

To find the best landlord insurance quotes, follow these steps:

• Compare multiple quotes: Obtaining quotes from different providers can help you find the most competitive price for the same coverage

• Enhance property security: Adding security measures like locks or alarm systems can reduce the risk of theft and lower your premiums

• Assess your contents insurance: Only insure items you own – tenants should cover their belongings. This helps keep costs down

• Choose annual payments: Paying annually instead of monthly often results in lower overall premiums