What is Landlords Insurance? What is Let Residential Property Insurance?
Landlords Insurance or Let Residential Property Insurance provides financial protection for landlords renting a property to tenants.
It is different to Home Insurance as it covers the additional risks associated with renting a property. Landlords Insurance can cover buildings, landlord contents, accidental damage, loss of rent, property owners liability, employers liability and can extend cover to Legal Expenses and rent guarantee.
Is it a legal requirement to have Landlord’s Insurance Cover?
No, it is not a legal requirement to have Landlord Insurance, unless you employ people or are a limited company with more than one director.
It is wise to have the cover though to protect your financial investment.
If you have finance on the property, then it is likely that buildings insurance will be a condition of the loan. Best to check your finance documents or with your professional adviser.
What does Landlord’s Insurance Cover?
We have a number of exclusive schemes for Let Residential Property / Landlords Insurance.
We are able to provide a wide range in cover at extremely competitive rates. Detailed below are the main features of our schemes.
Cover extends to include:
- Material Damage on an “All Risks” basis, with the option for subsidence cover
- Loss of rent and/or alternative accommodation up to 20% of the buildings sum insured
- Unauthorised use of Electricity and Gas up to £10,000
- Trace and access cover up to £25,000
- Optional cover is also available for the contents of communal areas, wardens and caretakers accommodation
- Legal Expenses up to £100,000
- 24 Hour legal helpline
The above provides an initial example of the cover available. For a more detailed appraisal we would be please to provide a policy wording for your further consideration.
How do I get Landlord’s Insurance?
Please contact us on 01637 876876 or via our contact page if you have any questions or need help with any aspect of Let Residential or Landlords insurance.