01732 56 56 01 info@ihowz.co.uk





Make insurance company aware property being let, else the insurance might be null and void;

Landlords need to ensure they have appropriate cover:-

Landlords’ buildings insurance

Landlords’ buildings insurance covers the cost of repairing or rebuilding your rental property if it’s damaged by something like fire, flood or vandalism.

If you own a flat and the freeholder is responsible for buying the buildings insurance, you can choose to get cover for your fixtures and fittings instead.

How about home cover insurance, to cover those times the landlord/agent/manager can’t be there.

Landlords’ contents insurance

You can add landlords’ contents insurance to your policy if you want to cover furniture, appliances and decorative items. Bear in mind that this will only cover your possessions: your tenants need to take out their own contents insurance to cover anything that belongs to them.

Landlord contents insurance can pay for repair or replacement if your contents are stolen, or if they’re damaged by something like fire or flood. If you also want to protect them in the case of accidental damage, you’ll usually need to add accidental damage cover to your policy.

The following are included in the property insurance taken out through our insurance partners, Alan Boswell Group, but you will need to consider them if using other insurances.

Property owners’ liability insurance

Property owners’ liability insurance is designed to protect you against compensation claims made by a tenant or visitor for injury or damage that’s blamed on your property. For example, if someone tripped on a loose floor tile in your house and suffered a serious injury, your property owners’ liability insurance could cover the legal fees and compensation pay-out.

Accidental damage insurance

Accidental damage insurance can pay to repair your building or replace your contents if an accident happens, like a red wine spillage on your carpet or a hole in the wall because DIY has gone wrong.

If you buy landlords’ buildings insurance then you can add accidental damage cover for buildings, and if you buy landlords’ contents insurance you can add accidental damage cover for contents.

Legal expenses insurance

Legal expenses insurance can cover legal action that you need to take in relation to your rental property, for example to pursue unpaid rent or to evict your tenants.

Rent Guarantee Cover.

Tenant default insurance can protect your rental income if your tenants don’t pay their rent for at least two consecutive months.

Is landlord insurance a legal requirement?

Landlord insurance isn’t a legal requirement, but bear in mind that buildings insurance is a requirement of most mortgage lenders and many leasehold agreements.

It’s important to understand that a conventional home insurance policyis usually not valid if you’re renting out your property, so you’re likely to need dedicated landlord insurance.

What level of landlord cover do I need?

Insurance like buildings and contents insurance needs to be based on rebuild or replacement values, while other insurance has set maximum cover levels.

Cover levels for landlords’ buildings and contents insurance

The amount of landlords’ building insurance you take out should be based on the rebuild value of your property. This amount is different from the market value: it’s the cost of rebuilding your property from scratch, including labour and materials. If you’re struggling to accurately estimate this, you can hire a surveyor to help.

You should base the amount of landlords’ contents insurance you take out on the cost of replacing all of your contents. This includes the furniture and appliances that you provide to your tenants like the fridge, television and sofa.

It’s important that you estimate these values as accurately as possible so that you’re covered if you need to make a claim. If your provider believes you’ve undervalued your property and you’re underinsured, they can apply ‘average’ to your claim. This means they can reduce the pay-out in proportion, so if they think you’ve valued your property at 25% less than the actual value, they can reduce your claim by 25%.

Tenants are responsibility to cover their goods.








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