As a landlord, a simple home insurance policy will not offer the level of coverage you need. Your investment will need specialist cover to protect both the structure and the rental income you will earn from being a landlord. This is often called Buy-To-Let insurance.
Core cover:
Buildings insurance:
This provides cover against damages to your let property.
Public liability:
This protects you and your 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 your contents. It is worth noting that contents insurance will not cover your 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, your tenants hold a party and the sofa is damaged.
Employer’s Liability:
If you own 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.
