Landlord Insurance FAQs

Landlord insurance is a type of property insurance designed specifically to protect rental property owners. A policy will typically provide financial protection against common risks associated with renting properties, such as any damage caused by tenants or having to fix replacement locks. This differs from standard homeowners’ insurance as it is tailored to the unique risks faced by landlords. 

Rental property insurance available from Higos can cover a wide range of properties, from commercially let holiday homes to student lets. Our team of experts will take their time to understand your exact needs, matching you with the appropriate type of coverage you require. 

Landlord insurance typically covers several key areas: 

  • Property Damage: This includes damage to the building from fire, storm, theft, vandalism, and tenant damage. 
  • Loss of Rental Income: If a rental property becomes uninhabitable due to a covered incident, landlord insurance can compensate for lost rental income. 
  • Liability Protection: This can cover any legal and medical expenses if tenants or visitors get injured on the property due to a maintenance issue. 
  • Legal Fees and Eviction Costs: Some rental property insurance policies also cover legal expenses related to tenant disputes of evictions. 

It’s important to remember that the exact coverage included in a landlord insurance policy can vary. For coverage tailored to you, speak to our dedicated team at Higos.

Landlord insurance is highly recommended if you let out one or more rental properties. Without suitable coverage in place, landlords could face significant financial risks if an unexpected event or situation occurs. With that in mind, it is a wise investment for landlords to safeguard their rental business.

Landlords don’t necessarily need contents insurance, but it is advisable if you’re renting out a furnished property. Comprehensive rental property insurance can cover damage or loss of household items like furniture, appliances, and decorations.  

It’s important to differentiate between landlord contents insurance, which covers the items you own as the landlord, and tenant’s contents insurance, which tenants should obtain to cover their personal belongings.

Landlord insurance is not legally required in the UK, but many mortgage lenders insist on comprehensive protection as part of their lending criteria. Without suitable coverage, landlords risk facing significant financial losses in case of unexpected events like property damage or legal disputes with tenants.

Landlord insurance can cover damage to the property caused by tenants, whether accidental or malicious. This can include structural damage as well as damage to fixtures and fittings. However, it’s important to check the policy details as coverage can vary. 

It’s also important to note that normal wear and tear is usually not covered within let property insurance. Similarly, separate contents insurance might be needed for furnished properties to cover damage to the landlord’s personal items inside the property.

Even when renting to family, landlord insurance is generally advisable. It’s important to remember that family relationships don’t negate the risks associated with renting property. Having suitable coverage however can protect against property damage, liability claims, and loss of rental income, just as it would with non-family tenants.  

That being said, let property insurance isn’t a legal requirement. The decision ultimately depends on your comfort level with these risks and the financial implications of damages or legal issues that could arise during your tenancy.

In the UK, landlord and rental property insurance is considered an allowable expense and is therefore tax-deductible. This means landlords can deduct the cost of their insurance premiums from their rental income when calculating taxable profits. 

It’s important for landlords to keep records of all insurance payments for accurate tax reporting. Other allowable expenses include maintenance costs, council tax, and utility bills if not paid by the tenant.

In a rental property, the responsibility for paying for property or building insurance typically falls to the landlord, not the tenant. The main reason for this is that the landlord owns the property and therefore has vested interest in protecting it from potential damages like fires, floods, or other risks. The tenant meanwhile will be responsible for insuring their own personal belongings through contents insurance. 

At Higos, our let property insurance policies can include buildings cover. Contact us to learn more and receive a no-obligation quote.

Yes, you need landlord insurance for a leasehold flat if you’re renting it out to tenants. While the building’s insurance is often covered by the service charge paid to the freeholder or management company, this doesn’t include specific landlord coverages like liability or loss of rental income. It’s important to check what the building’s insurance covers and then get a landlord policy to cover any gaps, particularly for contents, liability, and rental income protection.

Yes, if you’re renting out a room in your property, it’s advisable to have landlord insurance. Even though you may already have homeowners’ insurance, this typically doesn’t cover the unique risks associated with having tenants. For instance, this can include liability issues or damage to your property caused by tenants. 

Landlord insurance doesn’t cover boiler replacement as standard, but it may offer coverage for boiler repairs if it’s damaged due to an insured event, such as tenant damage. For full boiler replacement, you’d typically need a specific add-on or a separate home emergency cover. Some policies might offer this as an optional extra. It’s essential to check the details of your policy or speak with your insurer to understand the extent of coverage for boilers and other appliances.

As a landlord, having public liability insurance is not legally required, but it’s highly recommended. This insurance protects you against claims of injury or damage made by tenants, visitors, or the public occurring on your property. For example, if someone is injured due to a property fault, you could be held liable. Public liability insurance helps cover legal and compensation costs in such scenarios, offering significant financial protection and peace of mind.

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For independent advice or a landlord insurance quotation, just call 01458 270 323 or click the 'Request a call back' button.