Landlords Insurance: Property Protection You Need | Covered Insurance

Are you an existing landlord? Are you about to become a Landlord? Do you have landlord insurance? In this post we cover everything you need to know

Safeguarding your assets is essential if you are a property owner, whether you are involved in the residential or commercial sector. Making the decision to protect your property portfolio from unforeseen events is therefore a wise one.

What Is Landlord Insurance?

Landlord insurance is all about protection – and not just about protecting you, the property owner. This type of insurance is specifically designed to provide protection for your property and your tenants as well as any activities you carry out in relation to rentals.

Whether you are an established professional who rents properties for a living or simply renting as a means of generating a secondary income, landlord insurance offers the same level of protection.

Do I Need Landlord Insurance?

The answer is yes. When you take the decision to rent out your property, you are immediately stepping into an arena which is susceptible to risk.

The additional risk factors associated with renting out your property to tenants are not covered with a standard home insurance policy, so landlords are advised to take out the relevant insurance cover.  After all, why go to the effort and expense of securing a property you’re proud of if it is not going to be fully protected?

What Should Be Included In My Policy?

As a landlord starting out, it can be difficult to work out which types of protection you will need. A good policy should cover the following.

Loss of Rent

A major concern for landlords is loss of rent. Ensure your policy includes reimbursement for loss of rent in the event of the property becoming uninhabitable due to unforeseen damage from factors such as fire or flooding. 

Property Owners Liability Insurance

This type of insurance provides cover in the event that a tenant, workman or visitor is injured or their belongings are damaged due to a fault within your property.

Legal Expenses Cover 

There are numerous scenarios in which landlords can run up hefty legal bills. Repossession, tenant default and debt recovery are but a few potential scenarios in which landlords would be advised to have the correct insurance cover in place.

Cover Available From Covered Insurance Solutions

Whether you own an entire portfolio or a single buy-to-let property, Property Owners’ Insurance cover from Covered Insurance Solutions offers a flexible and personal service to suit your individual tenancy requirements.

Areas of cover include:

  • Loss of rent

  • Buildings

  • Public liability

  • Employers’ liability

  • Landlord contents

  • Legal expenses

  • Directors & officers insurance

  • Terrorism

To discuss your individual needs further, contact Covered Insurance Solutions today.

Safeguard your property with the right kind of insurance.