Landlord Insurance Comparison

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Cheap Landlord Insurance

Being a landlord can be a great way of making a passive income whilst owning an appreciating asset cannot be understated for your retirement plans. With being a landlord however, you’ll also need to consider the additional responsibilities that come with owning a property in which others will inhabit. Buy-to-let properties are becoming increasingly popular in the UK and the demand only seems set to increase into the future. With this in mind it’s strongly recommended that you insure your investment today and give yourself peace of mind that your rental is covered.

What is landlord insurance?

Landlord insurance is a type of insurance policy which bundles together differing types of insurance from different “insurable risks”. This essentially means that Landlord insurance is a bundle of insurance products that protect against damages to your property and contents as well as public liability. The public liability coverage ensures you will not be left out of pocket if found liable for damages to third-party property or persons whilst they are living in your rental.

If your tenant also qualifies and your wish to add it to your policy, many lenders can offer a “rent guarantee insurance” add-on so you can still receive expected payments should your tenant be unable to pay.

As a landlord what insurance do I need?

As a landlord you will face certain risks that many other property owners will not need to deal with. The main insurance types that will be beneficial to landlords are listed below.

  • Liability insurance – This will protect you against claims made from tenants for damage or injury they may suffer whilst renting in your property.
  • Property insurance – This will protect you against the cost of damages to your property caused by tenants or other accidents.
  • Loss of income insurance (Rent guarantee insurance) – This will protect your income stream in events where renters do not pay what they owe.
  • Renters insurance – You may wish to require that your tenants have insurance for their own property before entering your rental.
Who pays building insurance landlord or tenant?

If your tenant is non-commercial, in which case they will need to arrange their own business insurance, you as the landlord will be responsible for obtaining landlord insurance.

How much is landlord insurance?

This is dependant on certain factors that will be unique to your situation. For example, the value of the property you’re looking to insure, how many tenants will be residing in the property and any previous claims you may have made in the past. These are just some of the more obvious factors that will influence what your final premium price will be. The best way of finding cheaper landlord insurance is to compare multiple lenders online and choose which provider works best for you. At we’ve made this our goal by compiling a panel of UK based specialists so finding cheaper insurance has never been easier!

How to claim landlord insurance?

If you need to make a claim you will need to contact your policy provider and provide them with the relevant details. In short the process can be outlined as follows..

During this process you will usually have the option to query the offered amount as well the ability to accept or reject the valuation offered by your insurer for the damages.

  1. Contact your insurer and give them the relevant details
  2. Submit your claim
  3. Wait for your claim to be approved
  4. Receive the pay-out