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Landlord property insurance UK vs standard home insurance

Nearly every landlord will need a landlord policy rather than general home insurance. This is because:
– The risks are different.
– Often, a general home insurance policy may not pay out if you have let the property to tenants.
– You cannot get landlord liability insurance with a standard home insurance policy.
– Often, a buy to let mortgage will require that you have landlord insurance UK in place as one of their conditions.
– Residential landlord insurance offers a range of additional landlord protection covers.

A quick note – there are a couple of situations where a more specific type of policy is required. Firstly, if you’re renting a shared house with tenants from different families, you’ll need HMO insurance. Or, if you’re renting your property on AirBnB you’ll need AirBnB insurance. Otherwise, read on.

Landlord insurance quote – what’s included?

Landlord building and landlord contents insurance are typically included as standard, and there are a range of covers that either come as standard or can be incorporated.

Landlord building and contents insurance works in a similar way as it does on your usual (non-landlord) home insurance policy. Buildings cover protects you if, for example, there’s a fire or a flood and your building gets damaged. This is important because such an event could potentially destroy your rental income for the property and leave you with a property out of action and an inordinately huge bill for setting things right.

Landlord contents insurance for flats or houses covers the investments you’ve made in terms of property contents. It doesn’t cover the tenants’ own property, but what if your rental house is furnished or part furnished, and something happened to your white goods, carpets or fixtures and fittings? If they’re stolen, damaged or destroyed, your landlord contents insurance UK comes to the rescue. So for many landlords and buy to let owners, landlord contents cover is a must. Landlord and contents insurance gives you peace of mind because the insurance pays out in such events.

Landlord public liability insurance

Landlord liability insurance UK is a major consideration. What if a tenant got injured on your property and held you responsible? Despite best efforts to be safety-conscious and avoid any such occurrences, accidents do happen and it’s possible it could be deemed your fault. In such cases the costs of claims can be quite extreme, and the legal bills for defending any claim can also mount up very rapidly.

Landlord insurance liability coverage is therefore vital for many landlords. We can provide a landlord liability insurance quote as part of a wider policy too, so that you can get all your major needs taken care of.

Landlord public liability insurance UK is widely available, but it’s not always easy to find a great price. Compare quotes with Apricot because we work with a wide range of leading insurers, so there’s every likelihood we can find you a very competitive quote. Just don’t ignore liability to landlord – insurance is there to help.

Accidental and/or malicious damage cover

Your tenants could always cause accidental damage in your let house – spills, breakages, or other types of serious damage. Accidental damage cover as part of a residential landlord insurance policy means you’re protected against the cost of these events.

Malicious damage cover is similar, except it covers you against the unfortunate event that your tenants cause purposeful vandalism or damage to your property.

Rent guarantee and/or rental income protection

How would you cope if your tenants stopped paying rent? Perhaps you have a buy to let mortgage to maintain and would lose out even further if the rental income stopped. If the loss of income is because your tenant cannot or will not pay, then you’d be glad to have rent guarantee cover. This would pay out to cover the lost income.

Somewhat similar but with different conditions is rental income protection – this is to cover loss of rental income caused by damage to the property.

How can I get insurance cheaply?

Lots of variables affect the price of your insurance. Your postcode can make quite a big difference for a start, because insurers calculate that some areas generate far more claims than others. This could be for a variety of different reasons. Your pricing will of course vary substantially if you’re insuring a portfolio of properties rather than a single house or flat. Your age, and the value of the property (or properties) also make a big difference.

However, pricing also varies substantially from insurer to insurer – the insurer that’s cheapest for one client will not always be cheapest for another person with different circumstances. That’s why it pays to compare – something that Apricot can help with.

We have strong relationships with a broad selection of leading insurers, and if you fill in our form or enquire by phone we’ll find you our best deal.

* 18% of our landlord insurance customers in 2020 had a premium of £100 or less per annum.

Related Pages

HMO Landlord Insurance

AirBnB Insurance

Commercial Landlord Insurance

Landlord Insurance Students

Landlord Insurance Unoccupied Property