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Protect yourself from losses as a landlord

Landlord insurance helps cut the risk of losing money when renting out a property. See what it costs and what protection it offers for residential or commercial lets.
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Last updated
January 10th, 2024

What is landlord insurance?

Landlord insurance is cover you can take out for residential or commercial properties you rent out.

Sometimes called buy-to-let or property rental insurance, landlord insurance is a broad term used to describe a range of covers that protect you against the risks that come with being a landlord. 

Landlord insurance can cover you, your income, the buildings in your portfolio, and their fixtures, fittings and contents. 

It’s not a legal requirement to have landlord insurance, but you may need it if you want a buy-to-let mortgage to purchase the property. Check your mortgage requirements carefully.

Even without a mortgage lender, it's worth considering landlord insurance because it can provide more relevant cover than regular home insurance. This applies whether you're renting to paying tenants or family members. 

Will regular home insurance cover me?

No, regular home insurance is unlikely to cover you, because you’re not living at the property. You don’t know whether your tenant is causing any damage and can’t rely on your tenants to address issues before they spiral. 

Worse still, if your tenant is injured inside your rental property, you may have to compensate them from your own pocket if you don’t have the correct landlord insurance.

If you have a holiday home, you’re likely to need holiday let insurance rather than landlord insurance.

What type of cover can be included with landlord house insurance?

Landlord building insurance

This can cover the cost of rebuilding your property if it suffers significant damage due to events such as a fire, lightning strike, earthquake, burst pipes or subsidence.

The rebuild cost isn’t the same as the market value or the price you paid for the property: it’s how much it would cost to rebuild your home today. Use a rebuild calculator to work out the cost before you take out your insurance.

Fixtures and fittings

This can pay to repair or replace fixtures and fittings in your property. For example, it can cover damaged electrical sockets or light fittings, fixed glass and mirrors, roof tiles and insulation.

Landlord liability

This can protect you from compensation claims made by anyone in the property (e.g. a tenant, visitor or contractor). If they were to take legal action over an illness, injury or property damage sustained within your property, this cover could pay your legal fees and compensation costs.

Landlord contents insurance

This can protect all the items inside the property that belong to you, such as upholstery and furniture. To work out what level of cover you need, add up the cost of replacing all your belongings inside the property. If the let is unfurnished, you shouldn't need much cover.

Rent guarantee

Rent guarantee insurance can cover your rental income if your tenants fail to pay. It can also cover legal costs for repossessing a property after an eviction and much more.

What type of cover can be included with landlord house insurance?

Landlord building insurance

This can cover the cost of rebuilding your property if it suffers significant damage due to events such as a fire, lightning strike, earthquake, burst pipes or subsidence.

The rebuild cost isn’t the same as the market value or the price you paid for the property: it’s how much it would cost to rebuild your home today. Use a rebuild calculator to work out the cost before you take out your insurance.

Fixtures and fittings

This can pay to repair or replace fixtures and fittings in your property. For example, it can cover damaged electrical sockets or light fittings, fixed glass and mirrors, roof tiles and insulation.

Landlord liability

This can protect you from compensation claims made by anyone in the property (e.g. a tenant, visitor or contractor). If they were to take legal action over an illness, injury or property damage sustained within your property, this cover could pay your legal fees and compensation costs.

Landlord contents insurance

This can protect all the items inside the property that belong to you, such as upholstery and furniture. To work out what level of cover you need, add up the cost of replacing all your belongings inside the property. If the let is unfurnished, you shouldn't need much cover.

Rent guarantee

Rent guarantee insurance can cover your rental income if your tenants fail to pay. It can also cover legal costs for repossessing a property after an eviction and much more.

What can landlord insurance cover?

Covers

Contents that you have in the property, such as furniture and appliances
Rent arrears – if your tenants fail to pay
Legal costs
Alternative accommodation – if your tenants have to move out while repairs are made
Damage caused by events such as fire, flooding or theft
The structure of the building
Fitted features such as kitchens, lights and radiators

Does not cover

Claims for property damage caused by negligence or poor maintenance
Any damage already existing before you bought the policy
Any wear and tear resulting from normal use over time
Your tenant's property
Damage by pests - such as mice or wasps

How much does landlord insurance cost?

How much you need to pay depends on a range of factors, including:

  • The level of cover - Costs will rise if you add on extras

  • Your property’s age – your premium can be affected by the year your property was built

  • Your claims history – previous claims could potentially have an effect on your premium

  • Your tenants – for example, you could pay more if you let a student house or a House in Multiple Occupation (HMO)

  • Your property's location - premiums can be affected by your area’s history of flooding and subsidence

Landlord insurance starts from[1]
£12.95a month
What landlords are paying out on expenses
How much landlords are claiming back from the taxman, on average, for each allowable expense they pay for.

How can I save money on landlord house insurance?

There are a few steps you can take to make extra savings on your landlord insurance.

Keep your property in good condition

Keeping on top of repairs and maintenance can reduce the likelihood of needing to make a claim.

Choose tenants wisely

You pay more for cover when letting to certain types of people. For example, insurers view students sharing as a higher risk than a professional couple.

Don't pay for unnecessary buildings insurance

If you are letting out a flat, the building’s freeholder should already have buildings insurance, so you might not need separate cover.

Think carefully about what extras you need

Only pay for the cover you want.

What information do I need to get landlord insurance?

Before comparing quotes and taking out a policy, gather the information you need to apply for landlord insurance. This includes:

  • The address of the property

  • When it was built

  • The cost of rebuilding the property (work this out with the help of a rebuild calculator)

  • The type of tenants in the property and the length of their tenancy agreement

  • Total rental income for the year, if you want rent guarantee insurance

  • The total value of your personal items inside the property, such as upholstery, furniture and kitchenware

  • Claims history for the past five years

  • The type of landlord insurance you need

  • The value of fixtures and fittings inside the property’ as a separate point

How do I make a claim on my landlord insurance?

It’s simple to make a claim on your landlord insurance. You need to obtain a crime reference number before making claims for damage or theft, you can do this by making a report to the police. 

Apart from that, simply contact your insurer either online, by phone or by sending an email and explain the circumstances of your claim.

Although it’s easy to make claims, insurers may take some time to process them, so always submit them as soon as possible. There might also be a time limit on claims, for example 30 days, so don't delay if you think you have a case.

It’s also important to make sure you read your policy thoroughly to understand what its terms and conditions are before making a claim.

FAQs

Do I have to get landlord insurance?

It depends. While it’s not legally required, having it may be a condition for your mortgage. If you rely on the property’s rent to pay the mortgage, then landlord insurance could prove doubly important.

Is landlord insurance tax-deductible?

Yes, landlord insurance is tax-deductible. You can reduce your tax bill by including your landlord insurance as an expense alongside other tax-deductible expenses, like property maintenance and running costs. 

Are there any situations where landlords don’t need specialist insurance? 

Yes, there are situations where landlords might not need specialist insurance. For example, if you sublet a room in your own house, you might not need landlord insurance, but you should check that subletting is permitted with your current home insurance and mortgage arrangement.

Can I get multi-property landlord insurance?

Yes, you can get multi-property landlord insurance as some insurers offer a single policy that covers several properties at once. This might work out cheaper than taking out individual policies for each property, and many insurers offer multi-property discounts.

Am I covered for damage caused by my tenants?

In terms of whether you are covered for damaged caused by tenants - you'll need to check your policy. Malicious damage is covered by most insurers, but you may have to pay a higher premium to cover this.

Should I insure my tenants' contents?

No, you don't need to insure your tenants' contents as the responsibility lies with them.

Is loss of rent covered?

Your insurance can cover lost rent, depending on the circumstances and the covers you choose. Rental income cover can pay for rent lost due to your property being damaged and becoming uninhabitable. Rent guarantee cover can pay if your tenants withhold rent.

Will boiler breakdown be covered?

You'll need to check your policy to see if boiler breakdown is covered, but it’s unlikely to be offered as standard. You’ll need to either pay extra to cover it or take out a separate boiler insurance policy.

In depth guides to landlord insurance

Find out more about the cover available to landlords with our guides.
A house in the woods
How to choose the right landlord insurance
Houses that have been flooded
How to claim on your landlord insurance
A couple saving money
How to save on your landlord insurance

About the author

James Andrews
James has spent the past 15 years writing and editing personal finance news, specialising in consumer rights, pensions, insurance, property and investments

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References

1. Superscript customer data: 10% of landlords paid £12.95 a month or less for their Superscript insurance between January and March 2023.