Landlord insurance

You should arrange your cover as soon as you plan to rent out a home. Most banks require it before they will lend you money for a property.

• Before your very first tenant moves in
• When applying for a buy to let mortgage
• If you change from long term lets to holidays
• Every year to check your property value
• Before a property becomes empty for long periods

A broker will ask for specific details to find you the best price. They will need to know who lives there and how much the house costs to rebuild.

• Provide the exact property rebuild cost
• Tell them what type of tenants you have
• Choose if you want extra rent protection
• Decide on your excess payment amount
• Check for any special rules about locks or alarms

Having the right policy gives you peace of mind while you manage your rental. It stops a single accident from becoming a massive financial disaster for your business.

• Protects your monthly income if tenants stop paying
• Pays for repairs after fire or floods
• Covers legal bills if someone sues you
• Provides emergency help for broken boilers
• Helps pay for tenant housing after a disaster

Your advisor will help you understand what level of protection you actually need. They will explain how different add-ons keep your income safe if tenants cannot pay.

• Ask about the property owner liability limit
• Check if emergency repairs are included
• See if you are covered for malicious damage
• Find out if legal fees are paid for
• Clarify the difference between rent guarantee and loss