Landlord Insurance UK - Compare Quotes for Best Coverage

Property Owners and Landlord Insurance

With cost increases eating into landlord profit margins, our high-net-worth clients want simple landlord insurance at the cheapest rate for their needs.  The best landlord insurance companies tailor quotes to fit property, tenants, and any requirements that may need covering.
Signature Insure have established connections with the UK’s best landlord insurance companies. We secure our clients competitive home insurance for their residential rental properties. Read our guide to commercial landlord insurance if you rent a property to a third-party business.

What is landlord insurance?

Landlord insurance is like standard home insurance but for a rental property. It’s also referred to as buy to let home insurance as many rentals are second properties with a multi property landlord as owner.

Buy to let insurance can cover a property occupied by tenants in the event of damage or destruction. The landlord’s contents of the building and loss of rental income can also be covered, along with protection against other risk.

What Landlord Insurance Cover Do I Need?

Residential rental property insurance can be a building and contents policy, but many landlords opt for greater protection.

A more comprehensive landlord home insurance policy means a higher premium, so It’s important to understand your risk and where you can reduce your quote. Saving in the short term on the monthly premium will not necessarily save you money if you need to claim.

Risks that can be insured against includes

Damage to the building’s structure
Fire, flood and theft
Damage to fitted features like kitchens and bathrooms
Loss of your rental income
Legal costs in the event of litigation
Public liability
Accidental damage from tenants
Breakdown and replacement of boiler

Our experienced brokers will assess your requirements and make sure you are paying a competitive price for your protection. Below are the  following types of rental insurance for landlords that may apply to your needs.

Landlord Building Insurance

This policy, also known as buy to let building insurance, covers the cost of repairing or rebuilding your property if damaged. It isn’t a legal  requirement, but mortgage companies need this in place. Typical policies will:

Cover for loss or damage to buildings up to the sum insured.
Settle the bill for accommodation fees if unable to live there while being rebuilt or repaired.
Pay for repair of infrastructure like drains, cables or gutters following damage to the property.
Cover accidental breakage of fixed; window glass, ceramic hobs, and bathroom suite including   fittings.
Pay for replacement locks for external doors if keys are lost.
Pay for costs incurred evicting squatters.
Cover energy & water theft, damage caused by illegal drug cultivation, and malicious damage &   theft by tenants.

What Landlord Insurance Cover Do I Need?

If you have items stored in there, a contents insurance policy will payout for theft or damage in a property occupied by tenants.

What is Covered

Furniture
Contents of outbuildings
White goods & appliances
Malicious damage & theft by tenants

What is not Covered

Unoccupied properties
Illegal activity
Valuables
Wear and tear

This type of contents insurance protects the items provided in a home by the landlord. The tenant’s possessions will need to be protected by their own policy.

Property Owners Liability Insurance

This is designed to protect residential property owners against any injuries and potential claims from visitors to the property or land. If there’s an injury and the owner is liable, they will be covered for costs and damages.

Those looking for student landlord insurance often opt for this form of protection to mitigate the risk of injury to their student tenants or visiting friends.

Pays out between £1 million and £10 million depending on client preference if a compensation claim is made.
Covers legal expenses and costs for a range of circumstances of injury or death on your property.
Covers any legal costs you may be liable for after the property is sold.

If looking for peace of mind with more enhanced buy to let insurance, landlord public liability insurance is a good option.

Rent Guarantee Insurance

For many landlords, the income they receive needs to pay the mortgage and other associated property costs. A policy that protects from tenants failing to pay or the costs of an eviction, reduces financial certainty in this stressful situation.

Protects rental income (typically 75% of the payment due) each month for a set number of months.
Can offer a payment in lieu of rent following an eviction for a period.
Covers full landlord legal expenses including costs of section notices & evictions.

You will need to make sure that your tenant has either passed reference checks or has a guarantor in place. Adding rent guarantee insurance removes the risk of being impacted financially if your tenant is.

Rental Income Insurance

This rental payment cover protects against loss of income from damage at the property, surrounding area (1 mile) or managing agents’ premises for a set period. It pays up to the rental amount insured in many cases.

Signature Insurance offers policies suitable for guest houses, buy to let properties and more. We search the market and use our network of UK brokers to secure the best landlord cover for your property. Contact us today for a competitive quote.