View Full Version : Landlords insurance

30-03-2009, 13:14 PM
Guys - quick question.

I am about to move a tenant into my fully furnished flat. The flat is looked after by a management company (i.e., cleaning of communal areas etc), and i believe they have their own insurance policy for the building itself. I currently have my own contents insurance.

From my understanding, it will be the tenant's reponsibility to have their own contents insurance. Apart from rental protection insurance which I am aware i can take out, is there any other sort of insurance i need to take out as a landlord?

Any advice greatly appreciated



30-03-2009, 13:40 PM
Hi Olly, there are quite a few different types of insurance cover for landlords:

Landlord liability insurance £2m as standard, with an option to upgrade to £5m in case of unforeseen accidents on your property. According to the Association of Residential Letting Agents (ARLA), Personal injury claims have increased by 85% since 1990 and awards over £100,000 are not uncommon, so suitable liability cover is essential.

Landlord buildings insurance From £75,000 up to £2million to protect you against the cost of structural repairs. The Association of Residential Letting Agents (ARLA) estimates that 40% of UK properties are under-insured - it is vital that you make sure your cover represents the full rebuilding cost for your property.

Landlord contents insurance From £5,000 to £50,000 to cover the carpets, appliances, fixtures and furniture on your property. If you're renting a furnished property, you need to make sure you can replace broken, damaged or stolen items on a new for old basis.

Loss of rent insurance 12 months of cover up to 20% of the buildings sum insured to ensure you won’t be out of pocket if damage or repairs make the property uninhabitable.

Alternative accommodation insurance in case you need to make a claim on your buildings policy and the house becomes uninhabitable while repairs are being undertaken.

Accidental damage insurance to repair accidental damage your tenants may cause to your buildings or contents.

I personally found the last one helpful, I use Simple Landlords Insurance for my cover and the one time when I did make a claim, they dealt with it swiftly and in a professional manner. Below is their website address, hope this helps.