Landlord Insurance

So what is landlord insurance? Well, in a nutshell, it exactly the same as a normal home policy but for a house that is rented out. If you own a property that is let to tenants, you are the landlord and hence need a landlords insurance policy.

There are a few key differences between the cover on a landlord policy and a standard house buildings and contents policy. The most obvious of these is cover for damage caused by the tenant. A home insurance policy will exclude this purely because it is for a house that is not let to tenants whereas a landlord insurance policy will normally have this included or at least the option to add it if required.

Everything else is basically the same with most normal policies including the usual fire, storm, flood, escape of water, etc. An important inclusion is that of property owner's liability cover. Both types of policy will usually have this cover but as a landlord you will want to see this even more so due to the fact that the tenant could injure themselves while in your home which you may be liable for.

One common misconception is that a landlord insurance quote is more expensive than a home insurance quote but this is not really the case. Cover seems greater in a landlord policy but when comparing the two you will notice that in both cases cover is included or not included where appropriate, not to reduce ones cover, but to only include it where necessary. Consequently premium quotations tend to be similar to each other.