It is essential to be have building insurance if you have a leasehold property. Usually this is included in the service charges payable. However if you have a freehold property then it is the Landlord’s responsibility to insure the buildings.
Contents insurance is not a legal requirement; however it is always good practice to have such cover in place just in case the unforeseen happens.
There are also specialist Landlord insurance providers, who offer a more in-depth policy to suit the differing needs to that of a normal household policy.
We always recommend Endsleigh Insurance as they are the leading UK Landlord insurance provider and their policy includes the following:
Malicious Damage by Tenants
This covers you for up to £25,000 against malicious damage or vandalism caused by tenants and their guests at no extra charge.
Our landlord insurance provides un-occupancy cover for up to 120 days for student tenants and up to 60 days for non-student tenants to ensure your property is protected outside of term time or in-between lets.
Alternative Accommodation and Loss of Rent
If any let room or communal area in the property becomes uninhabitable we will provide your tenants with alternative accommodation or compensate you for the loss of rent for up to 30% of the re-buildings cost of your property.
Trace and Access Cover
We provide full trace and access cover for up to £5,000 included as standard; we will cover the cost of finding the escape of water, as well as subsequent repairs to the floors, ceilings and walls.
Landlords Fixtures and Fittings
As landlords fight to secure the best tenants there is an increasing number who will provide digital communication such as satellite dishes, Wi-Fi and broadband equipment. As we include cover for these as standard on buildings insurance you do not have to purchase additional cover.
What else Does Landlords Insurance Cover?
- Fire & Smoke damage
- Vandalism & Theft
- Oil or water leak
- Lightening and Storm (excludes gates and fences)
- Burst pipes
- Impact from vehicles, falling trees, animals, aircraft, aerials and masts
Extra Benefits Available
The Endsleigh Landlord insurance will also cover the following:
- Separate buildings and contents – If you don’t need both buildings and contents only choose the one you need and save money.
- Legal expenses – You can add legal expenses of up to £50,000 for repossession and recovery of rent arrears.
- Home emergency expenses – Add home emergency for “first aid” cover for your property. You get up to £500 for sudden unexpected events such as boiler breakdown or burst pipe.
We are also able to offer Landlords rental guarantee insurance which offer a 6 or 12 month cover against non payment of rent by the tenant together with any legal fees needed for gaining possession of the property. For more information on this, please click here.