How to compare landlord insurance products effectively

While there’s no legal requirement for a landlord to have insurance on their investment property, it is still a worthwhile undertaking though you should compare landlord insurance products effectively.

That’s because there’s a lot of competition in the marketplace and if you have a buy to let mortgage for your property then the lender may demand that there is relevant insurance in place.

The first step is to only consider those insurance policies that have been designed with landlords in mind.

Basically, a standard home buildings or contents policy will not provide the level of cover for the potential risks that are facing landlords.

They include covering a landlord’s liabilities and even paying for accommodation costs should a tenant be forced to move out because their rented home is uninhabitable.

Landlord insurance quotes

Other issues that you should consider for landlord insurance quotes include:

  • Damage caused by the tenant to the property
  • Non-payment of rent
  • Liability for accidents in the property that cause an injury.

Also, for those landlords who have a portfolio of properties, it is possible to get insurance cover for multiple properties that will meet your needs.

Whether you have multiple homes or just one property and whether you are a professional landlord or an ‘accidental’ landlord, the risks facing you are different to those wanting normal home insurance cover.

It’s at this point we should also highlight that should you opt for standard home insurance coverage and then make a claim in your name for the rental property then the insurer may well reject it.

This may mean you facing a hefty repair bill, whereas opting for specialist landlord cover should meet just about every need.

Comparing relevant insurance

So, how should a landlord go about comparing relevant insurance products?

There are lots of well-known providers and comparison websites that will make this process straightforward – so get at least three quotes including one from a comparison website as this will give a market rate for your needs and location.

However, while the comparison sites are easy to use, you should be diligent about the small print to ensure that your needs will be met.

Essentially, this means that a landlord should ensure that their insurance policy includes the following should they need it:

  • Coverage for loss of rent
  • Paying for alternative accommodation
  • Repairing malicious damage caused by tenants
  • The cost of replacing locks
  • Accidental loss of metered gas and water
  • Items stolen from an outbuilding
  • Liability coverage for accidents that result in damage or loss to a third party property or injury to a person
  • Legal expenses, including paying for the recovery of rent and eviction
  • Some insurance policies offer a rent guarantee to cover 12 months of rent arrears
  • Legal expenses
  • Costs of emergency repairs, including the loss of central heating.

In addition, some providers offer an emergency helpline that is available 24/7 to cover a range of scenarios.

Comparison exercise between landlord insurance products

Once you have carried out an effective comparison exercise between landlord insurance products, then you should always inform your insurer about any change in your circumstances. Among these will be:

  • Whether the tenants have changed
  • Decorating or renovating a property for more than 180 days
  • Void periods, which is an empty property with no rent between tenancies.

It’s important that landlords choose the right level of insurance coverage for their property, but this can be a tricky process and while a cheap policy may meet most of your needs, it might not be the best.

The best way to compare various policies is to ensure the policy you opt for will provide the level of protection you need, regardless of how much it costs.

Also, there are different elements for landlords insurance that you will need to take into account, including:

  • Contents insurance
  • Buildings insurance
  • Liability insurance
  • Legal expenses insurance
  • Rent guarantee.

Sign up for landlord updates

And it’s not just about providing adequate insurance coverage to protect your investment, if you sign up for landlord updates with membership organisations or landlord news sites, they will highlight the need to protect against the activities of troublesome tenants and even bad weather.

You should also look at any restrictions, particularly on a comparison website, since they may insist that the property being insured is occupied by working or professional people or even retired tenants.

They may also insist that the landlord is UK resident and the insured property is free from flooding and subsidence.

The insurance company will also take into account the location of your property and whether it’s in good repair, which may affect the likelihood of you making a claim.

In addition, your previous claims history will be taken into account as well as any security measures you have in place.

Insurance product comparison exercise

Finally, as part of your insurance product comparison exercise, you should also look at customer feedback, particularly any complaints about the non-payment of claims or a slow claims process.

This will play an important part and there are blogs and forums available that offer landlord advice that will prove helpful so you can compare landlord insurance products effectively.


About S Thompson

Simon Thompson is Editor of Landlord News and CEO of

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