Landlord Insurance

Landlords’ insurance typically covers a wide range of perils to ensure the property owner’s financial security. Standard coverage includes protection against common risks such as:

• Fire and lightning: Damage caused by fires or lightning strikes.
• Explosion: Any explosion that may damage the property.
• Earthquake: Coverage in the event of earthquake damage.
• Storm or flood damage: Protection against weather-related damages like storms and floods.
• Escape of water/oil: Damage caused by a water or oil leak.
• Subsidence: Covering damage due to the sinking or settling of the ground.
• Theft: Protection in case of theft.
• Malicious damage: Damage caused deliberately by individuals or tenants.

However, it’s important to note that each insurance policy may vary in the exact coverage offered. Optional coverage might include:

• Accidental damage: Coverage for accidents that cause damage to the property.
• Malicious damage by tenants: Protection if tenants intentionally damage the property.
• Terrorism: Coverage for damage caused by terrorist acts.
• Legal protection: Legal costs if you need to take action against a tenant or someone else.
• Alternative accommodation costs: If the property becomes uninhabitable, this covers temporary housing costs for tenants.
• Rent guarantee insurance: Ensures you continue receiving rental income even if tenants stop paying.
• Contents insurance: Protects any furniture, appliances, or items the landlord owns inside the property.
• Liability insurance: Covers legal costs if a tenant or someone else gets injured on your property.