Summary
What is Landlord Insurance?
Landlord Insurance provides financial protection for landlords renting a property to tenants. It differs from standard Home Insurance by covering some of the additional risks associated with renting a property. It’s sometimes also called Landlord Home, House or Property Insurance, or Buy-to-Let Insurance.
It’s a broad category, too, and cover can include Landlord Buildings Insurance, Landlord Contents Insurance, accidental damage, loss of rent and liability.
Do I need Landlord Insurance?
Legally, no. But your rental property is a major investment, so it’s important that you consider protecting it with suitable Landlord Insurance.
Regular home cover may not offer the cover you require. Being a landlord comes with its own unique set of challenges and risks and our specialist insurance is designed to meet those particular needs.
At HomeLet, we know that being a landlord is complex. There’s a wealth of information, legislation and regulation to digest, plus you need to attract tenants, keep your properties in good condition, manage rental payments and organise the right insurance.
To make your job easier, we offer tailored, competitive Landlord Buildings Insurance and Landlord Contents Cover that are designed to safeguard your finances and give you added peace of mind. You’ve also got the reassurance that HomeLet has been protecting landlords for over 30 years.
How do I get Landlord Insurance?
There are two main ways to get insured. First, you can buy online on your smartphone, laptop or computer and arrange your cover quickly and easily.
Alternatively, you can give us a call, and one of our friendly team will be happy to answer any questions that you might have about our cover. They can also help you to arrange your insurance over the phone.
We’re open from 08:30am-17:30 Monday to Friday and 9:30-1pm Saturday. Whatever you need, we’re happy to help.
How much does Landlord Insurance cost?
Your Landlord Insurance cost will depend on several factors, including the level of cover that you choose. Every landlord’s situation is different, so there’s no ‘one-size-fits-all’ insurance solution.
At HomeLet, we offer options including landlord building and contents insurance, buildings only and contents only. We also offer multi-property Landlord Insurance called Portfolio Insurance.
We provide a variety of optional extras, too, such as accidental damage by your tenant. This means that, if you choose to get a Landlord Insurance quote, you can arrange exactly the level of cover that you need, and the cost will be unique as a result.
Other factors affecting Landlord Insurance cost include:
- The type of property that it is
- How old your property is
- The location of your property
- What kind of tenants you accept
- Whether you’ve made any previous claims
- Whether you pay annually or monthly
Get a tailored Landlord Insurance quote in minutes
To get a Landlord Insurance quote, simply click on the link below and enter your details. Arranging cover can take minutes and will give you peace of mind knowing that you’re protected if the worst happens.
What does Landlord Insurance cover?
These products can differ markedly, which is why it’s wise to compare Landlord Insurance policies to make sure you get one that’s right for you.
As well as protecting buildings and contents, Landlord Insurance policies can cover against:
- Damage to your property (by the tenant)
- Lost rent and re-letting costs - whilst the property is uninhabitable following an insured event, as well as the costs of providing alternative accommodation for up to two years after an insured event. Up to a limit of £50,000.
- Re-letting costs - whilst the property is uninhabitable, as well as the costs of providing alternative accommodation for up to two years after an insured event.
- Emergency overnight accommodation (for your tenant)
- Emergency repairs
- Liability for injury or loss related to your rental property brought by third parties such as tenants, visitors or cleaners.
How could I reduce my Landlord Insurance premiums?
It’s not wise to skimp on your cover and leave your income at risk but providing that you’re still getting the level of protection that you need, here are two ways to lower your Landlord Insurance cost:
- Increase your excess: Raising how much you’re willing to pay towards an insurance claim will lower your premium, too. Just bear in mind that you’ll need to be able to pay it if you need to make a claim.
- Avoid unoccupied periods: While easier said than done sometimes, aim for quick changeovers between tenants, as empty properties are considered riskier than occupied ones and may mean that our Property Insurance for Landlords may not be suitable and would require specific Unoccupied Insurance which often can be more expensive.
Is regular Home Insurance not enough?
Regular Home Insurance is unlikely to offer the cover that you require. The key differences are that you’re not living in the property, and you’re renting it out to generate income.
This means many of the risks you might face are different, for example, tenants injuring themselves, causing damage or stopping paying rent.
Do I need Landlord Insurance if I live in the property?
It depends if you’re renting to a tenant or a lodger. Your guest is a tenant if you have an agreement not to enter their room without permission – in which case, standard Home Insurance probably won’t cover you.
If you don’t have this agreement in place and the person shares living space with you, they’re a lodger. Extending your Home Insurance should be enough in this case.
Do I need Landlord Insurance if my property is unoccupied?
Once you have a policy with us, the buildings and contents will still be covered if your property is left unoccupied for up to a maximum of 90 days. This offers you peace of mind in knowing that your policy will not automatically become invalid in between lettings.
Cover for malicious acts, theft, escape of water or oil, and accidental damage are excluded after the property has been left unoccupied for more than 90 consecutive days.
If you are thinking of getting a quote but your property is unoccupied, and if your main intention is to let it out to a tenant, we may be able to offer a policy in these circumstances.
For a comprehensive list of what exactly is included in your cover and what’s excluded, you should refer to your policy wording and insurance schedule.
How long is my building insured for?
Your Landlord Buildings Insurance covers you for 12 months. After this period, your policy will automatically renew unless we agree otherwise or it is cancelled. You can find your exact start and end dates on your policy schedule.
What do I need to get a Landlord Insurance quote?
It helps to have some basic information ready. To give you an accurate Landlord Insurance quote, we’ll ask for things like:
- Key details about your property, like its age and location
- Basic tenant information, such as their professions
- Your claims history
Can I get multi-property Landlord Insurance?
As specialist providers of Landlord Insurance in the UK, we can also offer you Landlord Portfolio Insurance. Ideal if you own a larger number of properties, this multi-property Landlord Insurance could help you to manage everything on one policy.
A trusted Landlord Insurance provider
We have been awarded a Feefo Platinum award for 2023, meaning our rating was above 4.5 out of 5 throughout 2022. Our Landlord Insurance for UK landlords has been given a customer experience rating of 4.6 out of 5 by 9,411 of our customers as of March 2023.
To read Landlord Insurance reviews, head to our Feefo page.
At HomeLet, we offer tailored policies that can include the following forms of cover:
Landlord Buildings Insurance
Landlord Buildings Insurance cover protects you against a range of potential disasters that could affect your rental property.
This could include fires, lightning, storms, floods and earthquakes, as well as an escape of water or oil, falling trees or branches, vehicle collisions and more.
At HomeLet, our Buildings Insurance for landlords also includes emergency assistance cover as standard, plus you can choose to add boiler and heating cover. Get a tailored Landlord Buildings Insurance quote today.
Landlord Contents Insurance
Landlord Contents Insurance cover protects your belongings that you provide for your tenants to use whilst in the property.
At HomeLet, we offer two levels of cover. Limited Contents Insurance provides up to £5,000 of cover for a limited range of household items, while Full Contents Insurance offers a more specialist cover level from £10,000.
Our contents policies include employers liability, legal liability, and loss of rent or alternative accommodation costs if your tenants have to move out following an insured event.
If you choose the Full Contents Policy, we also offer our Landlord Emergency Assistance as standard, with the option to add on boiler and heating cover.
It’s worth considering how much cover you need before deciding which policy suits your individual circumstances.
Landlord Liability Insurance
Regardless of how hard you try to keep your rental homes in good condition, accidents can happen.
Even something as simple as a trailing wire or a tile that’s slightly out of position can result in injury or damage – and, as the landlord, you could be held responsible.
This is where Liability Insurance comes in. It helps to protect you from the costs of injury or damage claims brought by third parties such as tenants, visitors or cleaners.
We include Landlord Liability cover as part of all our Landlord Contents and Landlord Buildings Insurance policies.
Our liability cover includes legal liability as an owner up to £5 million, occupiers legal liability and worldwide personal liability up to £5 million, public liability up to £5 million and employers liability up to £10 million.
Landlord Emergency Assistance Insurance
Landlord Emergency Assistance Insurance (excluding optional boiler and heating cover) is included as standard as part of a buildings or full contents policy. You can also buy it as a standalone policy.
It gives you and your tenants access to a 24-hour helpline to contact in emergencies. If you purchase it as a standalone product, it includes our optional boiler and heating cover as standard. This covers up to a maximum of £1500 per policy term and a maximum of £500 for each claim.
Optional cover add-ons
We offer flexible cover to suit your needs as a landlord. Here are some more cover options you may wish to consider adding to your policy for an extra cost.
Accidental and Malicious Damage Cover
HomeLet's 2022 Market Survey found that of landlords who had experienced an issue with a tenant, damage to the property was reported in over 54% of instances.
This cover is designed to give you added reassurance that you can make a claim if your property or contents are accidentally damaged – for example, by spilling paint on a carpet. When added to your Landlord Insurance policy, it includes damage caused as a result of a malicious or accidental act by your tenant.
You can add Accidental and Malicious Damage Cover to your Landlord Buildings Insurance or Landlord Contents policy as an optional extra.
Boiler and Heating Cover
Emergency boiler and heating repairs can be expensive. You can opt for emergency Boiler and Heating Cover as part of your Landlord Insurance policy as an addition to your Landlord Emergency Assistance Insurance.
This covers emergencies following the complete breakdown of the primary heating service which results in the complete loss of heating and/or water.
Boiler and Heating Cover can be added to the Emergency Assistance Cover on your Landlord Buildings Insurance or Full Landlord Contents policy as an optional extra. It is important to remember that this is not a maintenance service, though – it is designed for emergency circumstances only, and you must keep your boiler in good repair and serviced annually.
or call us on 0800 035 8258
We’re open from 08:30 – 17:30 Monday to Friday and 09:30 – 13:00 Saturday. Whatever you need, we’re happy to help. Not ready yet? Request a callback
Tenant Referencing
HomeLet is one of the UK’s largest Tenant Referencing providers, and our referencing products are available to all letting agents who work in partnership with HomeLet – if you’re interested in the service, please speak to your managing agent about our intelligent checks.
If you have any queries or have referenced your tenants by any other means, please call our Landlord Insurance team, and we’ll be happy to help.
or call us on 0800 035 8258
Calling from outside the UK? +44 1522 838514
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What do our customers say?
We have been awarded as a Feefo Platinum merchant for 2024, this means our rating has been above 4.5 out of 5 throughout the entirety of 2023.
Our Landlord Insurance, available across the UK has been given a customer experience rating of 4.7 out of 5 by 10,575 of our landlord customers, through independent feedback from Feefo.
To read more Landlord Insurance reviews, you can see feedback from our customers on our Feefo page.
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