It will introduce you to the insurances associated with the lettings market and provide advice on requirements and processes.
The properties you own are likely to be the most valuable possessions you have and letting them to tenants doesn't come without its dangers.
Tenants are generally viewed to be of higher risk than owner-occupiers and for this reason regular homeowner insurance policies are often invalid for tenanted homes.
Rental properties will require specialist landlord buildings and contents cover.
Landlords also need to consider other eventualities, e.g. if a tenant suffers an injury as a result of a fault in your property you could be liable. Tailored landlords insurance policies will protect you in the event of any such incident and should be considered before entering into any letting agreement.
Buildings insurance covers the cost of any damage to the structure of your home whilst it is rented out. Most mortgage lenders will require that you have buildings insurance in place.
Landlord buildings insurance policies cover you for damage caused by incidents such as:
Important: coverage will differ between home insurers so check your policy documents.
Landlord contents insurance covers the cost of any damage to contents owned by you the landlord. It also generally protects you in the event of a theft committed by the tenant.
Landlord contents insurance usually covers damage caused by events such as:
Important: Coverage will differ between insurance companies so check your policy documents.
As a landlord you should also protect yourself against tenant related incidents. If a tenant refuses to pay rent or attempts to hold you liable for a personal injury, the insurances below will provide cover.
The cost of your insurance premium will be influenced by a number of factors including:
Many insurers offer discounts if you buy buildings and contents insurance together.
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