Landlord Insurance Advice

There are many important things that you must take care of as a landlord, from running credit checks to getting up-to-date gas safety certificates. But one thing that is vital, is landlord property insurance and also getting the right landlord insurance advice.

It may or may not come as a surprise to you that normal home insurance policies are invalid, but many landlords have been unaware of this and unfortunately have only found this out when a claim has been denied.

Here at Eastern Landlords Association, we have partnered with 2 specialist landlord insurance providers to enable our members to benefit from discounted insurance quotes. We even hold occasional free insurance surgeries which gives you the chance to book a free appointment with an insurance specialist where you can gain invaluable landlord insurance advice.

Our Insurance Partners are:

  • Drayton Insurance Services
  • Coversure Insurance Services

If you would like some further landlord insurance advice, or any other landlord related advice, our experienced staff can be contacted for advice Monday – Friday 9am to 5pm via phone or email.

What is landlord insurance?

Landlord insurance is a specific type of insurance designed for properties that are rented out. It recognises the risks that come with letting to tenants and allows for the types of eventualities that happen more often in rentals than owner-occupied properties.

What does landlord insurance cover?

The basic types of landlord insurance cover the same things that standard home insurance policies would i.e. damage to the building and its contents. However, because rented properties are subject to higher levels of wear and tear, the insurance premium is higher.

More superior landlord insurance policies can come with additional options, such as liability insurance, legal costs, rental protection cover and a number of other eventualities that are specific to landlords.

Is insurance for landlords compulsory?

When you rent out a property you are taking on additional risks that would not be covered by a standard home insurance policy. In fact, it is likely that you will invalidate a home insurance policy when you rent out a property.

Whilst landlords’ insurance isn’t a legal requirement, buildings insurance is a requirement of most mortgage lenders and many leasehold agreements.

If you are concerned about expensive premiums, our insurance partners can help find the right policy to suit your budget.

Types of landlord insurance

There are a few different types of landlord insurance, and you may be able to combine different elements into a single product to suit your requirements.

The main types of landlord insurance are:

Landlord’s building insurance – this covers the repair or rebuild cost of your property if it is damaged by fire, flood or vandalism.

Landlord’s content insurance – you can also add contents insurance to cover fixtures and fittings, or if you own a flat and the freeholder is responsible for buildings insurance. Bear in mind that this only covers your contents, not the tenants; they will need to take out their own contents cover. This insurance cover can pay for repairs or replacing your contents if they are stolen or damaged by fire or flood for example. If you wish to cover contents against accidental damage you will need to add this to the policy.

Accidental damage insurance – this can pay to repair the building or replace your contents if they are damaged by accident, i.e. red wine is spilled on the carpet.

Property owner’s liability insurance – this cover is designed to protect you against claims made by tenants or visitors for injury or damage that is blamed on your property. For example, if someone tripped over some loose paving and suffered an injury, your liability insurance would cover the compensation and legal fees.

Legal expenses insurance – this insurance can cover any legal action that you may need to take in relation to your rented property, for example to evict your tenants or chase unpaid rent.

Tenant default insurance – tenant default cover can protect your rental income if your tenants don’t pay rent for at least two consecutive months. This can be up to a maximum of £2500 for up to 8 months.

How much does landlord insurance cost?

The exact price of an insurance policy is influenced by a number of factors, including:

Property location – as with standard home insurance, some locations have a greater risk due to crime rates, subsidence, flooding etc.

Property size – the larger the property, the more there is to insure, resulting in a higher premium.

Tenants – some insurers will charge a higher premium if you are renting to students for example.

Type of landlord insurance chosen – and the level of cover and voluntary excess that you set will all affect the premium.

What type of insurance if right for me and my property?

There are many types of landlord insurance cover available and a solution to suit every landlord and property. When trying to decide which policy is right for you, consider the following:

  • Are you renting out the property furnished or unfurnished? If furnished, you may wish to add in contents cover. Even unfurnished, you may want to consider whether you could afford to replace items such as white goods or garden furniture.
  • Do you have a portfolio of properties? Portfolio insurance is more cost-effective than multiple individual policies.
  • Do you depend on rental income? If your own financial commitments rely on your rental income, you may wish to consider rent protection cover.

If you would like some further landlord insurance advice, or any other landlord related advice, our experienced staff can be contacted for advice Monday – Friday 9am to 5pm via phone or email.

For more information on association membership, contact us today.


If you’d like more information on membership, contact us today.