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If you’re a landlord then any property you rent out is part of your business. And, just as you’d make sure your business was insured, it’s vital that you take out landlords public liability insurance to ensure you’re adequately covered against accidents o
Landlord public liability insurance is often included as an extra with your landlords building and contents insurance.
But what exactly does this protect you against and do you really need it?
What is landlord liability insurance?
When you let out a property there are various risks that you face. If one of your tenants were to suffer injury because of your property then you could be held liable for damages.
As a landlord, you will be liable if a tenant or visitor is injured as a result of a fault in your property or if their possessions are damaged. For example, a tenant could slip and injure themselves thanks to a leaky sink unit dripping water onto the floor. Or, a loose roof tile could land on someone’s car.
These claims can be extremely significant and landlord personal liability insurance covers the cost of claims resulting from this liability. These policies often also include some cover for legal expenses.
Including it when you compare landlords insurance
When offering landlords insurance UK insurers generally offer landlords public liability insurance as an additional benefit on the policy.So, when you compare landlords insurance it’s important that you determine whether the policies you are considering have this cover included.
Insurers offer different levels of landlord liability insurance - typically between £1 million and £10 million of cover. So, when you compare landlord insurance policies make sure you know what level of protection is available.
Of course, there may be other factors you want to consider when you’re shopping around for landlords insurance.
For instance, you should check whether accidental damage is included on your policy, whether it costs extra if you pay by direct debit and what the policy excess is.
Additionally, you'll also need to make sure you're able to adhere to any of the terms and conditions specified by the policy otherwise you may find yourself unable to make a claim when you need to.
Finding cheap landlord liability insurance quotes
One of the most straightforward ways to compare landlords insurance policies that include liability insurance is to compare landlord insurance quotes online. This is the easiest way to establish which benefits a landlord insurance policy has, what liability insurance is available and what the cover levels are.
Getting landlord insurance quotes from a number of insurers that offer the level of cover you need is the next step to finding a value for money landlords liability insurance policy.
Once you've found the landlord insurance provider that gives you the cover you need at the right price it's then quick and easy to apply..
