A simple home insurance policy will not offer the level of coverage a landlord needs. Their investment will need specialist cover to protect both the structure and the rental income they will earn from being a landlord. This is often called Buy-To-Let insurance.
Core cover:
Buildings insurance:
This provides cover against damages to the let property.
Public liability:
This protects the landlord and his business against claims made due to damage to a third person or object.
Additional cover available:
Contents insurance:
This will protect against damage sustained to the contents. It is worth noting that contents insurance will not cover the tenant’s contents and they will need to take out a separate policy for this. You should also specify whether you require ‘accidental’ cover or ‘standard’ cover. ‘Accidental’ cover will provide you with a wider range of protection, for example, if the tenants hold a party and the sofa is damaged.
Employer’s Liability:
If you own/are responsible for more than one property and hire staff to maintain and run them for you, it is a legal requirement as a business to carry employer’s liability insurance.
Rent Guarantee and Legal Cover Insurance:
This can be purchased in conjunction with your tenant referencing service as it relies on the information provided from the tenant's reference
