Rental Property Insurance

Protection for one of your biggest investments.

Who needs property owner’s insurance and why should they take it?

Property owner’s insurance covers losses that you may incur relating to your rental property. There are two main types of property owner policies – Residential and Commercial and for each, the property in question may be a single property, a group of properties together (such as flats or apartments), or various properties in various locations (known as a property portfolio). We can also provide quotations for some risks that mainstream insurers may shy away from like Houses in Multiple Occupancy (HMO’s) , unoccupied property and property undergoing work.

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Rental property insurance with so much more....

Each property owner policy can be tailored to your needs and cover can vary depending on your requirements. The most basic aspect of a policy is buildings cover which will pay for the rebuild or repair to the structure of the building, however you may also wish to include some of the following;

Property owner’s liability

Covers the cost of damage or claims made against you as a result of an accident or injury sustained on your property

Alternative accommodation

 Covers the cost to re-house your tenants if the property is uninhabitable due to damage

Contents cover

For repair or replacement of damaged contents if the property is let furnished for example

Loss of rent

Will pay our if your property is uninhabitable due to damage

Default insurance

Can cover you if your tenant fails to pay the rent for 2 months or more (you will normally be expected to have performed credit checks and obtained rent references at the start of the tenancy)

Legal expenses

Covers legal costs such as fees for dealing with evictions, or court costs for unpaid rent.

Employers Liability

Covers compensation claims by employees for injuries sustained whilst working for you

Unoccupied property insurance cover

Some policies are also specifically designed for unoccupied properties that may be awaiting sale or renovation, you can also choose reduced cover or full cover on these policies. You may have certain obligations (such as visiting the property frequently) where a property is unoccupied.

Property Portfolio Insurance

Having your property portfolio insured under one policy can make the administration of the insurance easier and more cost-effective.

Whilst it is not a legal necessity to have landlord’s insurance, if the property is mortgaged your lender will usually make it a requirement to have suitable insurance in place. If you have any employees who deal with your rental properties it is a legal requirement to have Employers Liability cover and this can be added to most policies.

property portfolio insurance UK
property portfolio insurance UK

Do you have more questions about Property Insurance?

Call our expert team of advisors on 0161 641 3229 to discuss all the options available to you and make sure you are fully protected

A rental property is likely to be one of your biggest investments and with the right cover in place you can have peace of mind that your investment is safe.

We deal with the UK’s top insurers which means we can access the policy that is right for you. Our dedicated team is waiting for your call to discuss all the options available to you and make sure you are fully protected. Call us now on 0161 641 3229.