There are a number of insurances that Landlords should consider. There are many reputable and highly professional insurers out there offering suitable products. We work with Let Alliance, who can quote for your insurance needs.
Landlords' Insurance
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Landlords' Buildings Insurance
This sort of insurance policy will cover your costs should you incur loss or damage to your let property. Accidental or malicious damage will usually be optional extr. Alternative accommodation for tenants may or may not be covered.
Landlords' Contents & Liability Insurance
Where the building is covered under a separate policy – eg, leasehold properties like apartments, you may simply want to cover your possessions which are not covered by that policy (such as white goods, floor coverings, locks) along with public liability (in case a tenant or visitor were injured) and optionally alternative accommodation for tenants if the property were rendered uninhabitable due to an insured event like flood or fire.
Landlords' Buildings and Contents Insurance
This sort of policy will generally cover all of the above.
Rent Guarantee
A number of rent guarantee policies are available, which will generally cover the landlord for unpaid rent (some with, some without an excess) until vacant possession of the property is regained. Typically there will be Legal Expenses cover in order to regain possession. It will be a requirement that the tenants pass referencing – and if the rating is ‘guarantor required’ that a suitable guarantor also pass referencing.
