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The rest of the article explains everything you need to know about landlord insurance. Click the links to jump to the sections on Our list of the best landlord insurance policies is based on ratings by an independent financial services review firm , customer feedback , the levels of cover provided by each policy and awards won by the company.
All of the policies in our list have been given top marks by the review firm. We also excluded some companies that cannot give you a quote online. We believe online quotes improve access to insurance and are more convenient for consumers.
We then looked at customer reviews on sites such as TrustPilot, Feefo and Reevoo. That feedback reveals whether the insurers are trustworthy and easy to deal with. We also compared the levels of cover offered by each of the providers and took into account any discounts or extras a provider offers. Special deals and discount may be withdrawn at any point but they can be a deciding factor, especially between policies that are similar. The policies on our list include many benefits as standard that are offered as optional extras by rivals.
And the level of cover of these benefits is often higher than other insurers. The broker Alan Boswell came top of our list because as part of its Landlords Property Owners policy it offers cover for the following as standard: Although Alan Boswell might not be right for all landlords, it offers a quality policy that others can be judged against.
Check out our guide to the cost of landlord insurance here. The number of rented properties in the UK is increasing. Rented properties are a lot more likely to be vacant for longer periods so landlord insurance normally covers buildings left empty for up to three months.
Landlord policies may also cover you for loss of rent while no one is living in the property, the cost of rehousing a tenant if the rental property needs repairs, damage to the property caused by a tenant and legal proceedings relating to the property such as eviction. Have a look at our article on unoccupied home insurance for more information. A buildings policy covers the rebuild cost of the structure and built-in furnishings, such as kitchens and bathrooms, if they are destroyed or damaged.
Landlord insurance can be a little more complicated for leasehold owners. You will need specific landlord contents insurance to ensure you have cover for things like longer vacancies, but many providers only seem to offer a complete landlord policy that covers home and contents. Companies such as HomeLet have separate home and contents landlord policies that both offer public liability and loss of rent cover.
Leaseholders will also need to communicate with the freeholder to make sure the level of buildings insurance they have will cover any improvements you might want to make. Some landlord insurance policies cover contents left in common or shared areas of buildings, which is particularly useful for leasehold owners.
Ask your chosen insurer if they offer this cover. Some policies offer rent guarantee insurance as standard, while it can be bought as an add-on for others. It protects against loss of income from unreliable tenants and covers rental income when the property is empty between tenancies. For more on rent protection, have a look here. Legal expenses will cover your costs if you are involved in a legal dispute with your tenant. Home emergency cover will pay out for repairs if your property's supply of gas, electricity, heating or water is disrupted, and help to get it fixed more quickly.
It is a useful policy because it can solve common problems that need to be fixed quickly and may not count as an insurance claim if you use it. A number of companies such as More Than , Saga and British Gas offer separate landlord home emergency policies. There is no legal requirement for tenants to have contents insurance but they may take out their own policy to cover their possessions.
If you are renting a furnished property it might be that you and your tenants have separate contents policies. If you are using a letting agency you will need to check they have professional indemnity insurance. That covers the agency in the event they are sued. They should also have Client Money Protection Insurance, which covers you if the agency runs off with the rent or deposit. Rent guarantee insurance is pretty self-explanatory - for a relatively low premium, it protects your income if tenants are unreliable with paying their rent.
It also covers your income in void periods between tenants. According to statistics from ThisIsMoney. Most of the providers on our list offer rent guarantee insurance, but the maximum amount of months they will cover can vary. HomeLet and Just Landlords will cover rent payments up to 12 months. A lot of insurance providers, such as Aviva and AXA cover this as standard. This is slightly complicated. Direct Line says it will not cover properties where all of the tenants are unemployed or claiming benefits.
Many companies will not cover tenants receiving DSS support so it is important that you check with any potential insurers. Alan Boswell says it will cover properties occupied by unemployed tenants and those on housing benefits. Landlord insurance is not designed for long-term unoccupied properties.
However, most landlord insurance policies will cover buildings left temporarily unoccupied, such as in between tenants, when the property is first acquired, or if it is being refurbished or redecorated. Just Landlords offers a specialist policy for unoccupied properties, with three levels of cover depending on whether or not the building is furnished. Generally, cover for boilers and heating is an additional extra, and not part of a standard landlord insurance policy.
HomeLet offers a boiler and heating option for an additional charge, which covers unexpected emergency breakdown. Direct Line offers cover for boilers as part of its buildings cover, which means that they will repair or replace your boiler if it breaks down, at no extra cost.
This issue cropped up when Direct Line advertised its boiler cover service. Unfortunately, the insurance world hasn't quite caught up with Airbnb , and so standard home insurance policies tend not to cover people who rent out their homes using Airbnb. Landlord policies are also likely to be unsuitable for Airbnb cover, although some home insurance policies that cover traditional bed and breakfast properties may be appropriate.
Check out our guide to getting Airbnb home insurance. Airbnb has also introduced Host Protection Insurance. Luckily, Home Protect offers insurance for Airbnb hosts as part of its standard home insurance and Discount Landlord 's cover also includes Airbnb. According to a study by the National Landlords Association, nearly half of subletting by tenants goes on without the landlord's permission.
Unfortunately, if your tenants are subletting your property without your knowledge it can invalidate insurance policies. You do not need a full landlord policy if you have a lodger, however, you may need an extension to a standard home insurance policy or specialist lodger home cover.
It is possible to increase home insurance cover by letting your insurer know you are taking on a lodger. Or you can look at lodger cover from the likes of Home Protect or Churchill. Either way, it is important to get extra cover because taking on a lodger without letting your insurer know could invalidate your home insurance. If you're looking for a home policy you should check out our list of the best home insurance companies.
As with all types of insurance, if you're looking for comprehensive cover the cheapest policy isn't always the best one. We think it's better to choose a quality policy that offers far-reaching cover. Our list of the top 12 landlord insurance policies isn't based on cost, but on expert and customer reviews, as well as levels of cover.
Direct Line offers separate buildings and contents landlord policies with a number of optional extras. Cover for theft and malicious damage by tenants, accidental damage and loss of rent are extras, so adding them to your policy will increase your premium. This is not a call out service, the cover is set up to pay for the costs involved in repairing or replacing your boiler.
As with all insurance policies, there will be a number of exclusions so it's worth checking the policy wording or discussing your needs with the insurer before you buy.
It is rated 8. However, most of those reviews are from people who have bought a policy but have yet to make any claims. You can get a Direct Line landlord insurance quote on its website. Check out our Alan Boswell review here. We've ranked the top home insurance companies in the UK based on the quality of cover and indepen You do need to tell your home insurance company if you're an Airbnb host Home insurance com Home emergency policies cover callouts to fix essential parts of your home such as the electrics, Summary year old insurance provider Axa — trading under its current name since — is o Summary Saga focuses on those aged 50 or over, providing insurance, holidays, financial services This register can be checked for details of our permissions, history and contact details.
Why landlord insurance is important The number of rented properties in the UK is increasing. Policy inclusions Some policies offer rent guarantee insurance as standard, while it can be bought as an add-on for others.
Rent guarantee insurance Rent guarantee insurance is pretty self-explanatory - for a relatively low premium, it protects your income if tenants are unreliable with paying their rent. Does landlord insurance cover?
DSS housing benefits tenants? Airbnb, subletting and lodgers Unfortunately, the insurance world hasn't quite caught up with Airbnb , and so standard home insurance policies tend not to cover people who rent out their homes using Airbnb. Subletting According to a study by the National Landlords Association, nearly half of subletting by tenants goes on without the landlord's permission.
Lodgers You do not need a full landlord policy if you have a lodger, however, you may need an extension to a standard home insurance policy or specialist lodger home cover.