What it covers
The parts that differ
Landlord insurance is built around the specific risks of letting.
- Buildings cover on a let property, which standard policies exclude
- Property owners liability, usually £2m or more, in case a tenant is injured
- Loss of rent if the property becomes uninhabitable after an insured event
- Contents cover for anything you supply, such as white goods and furniture
- Malicious damage by tenants, which is often an optional extra
- Alternative accommodation for tenants where the policy provides it
Getting it right
Things that affect cover
Insurers ask about the tenant type and it matters. Cover and price differ between professional tenants, students, and tenants in receipt of housing benefit, and giving the wrong answer can invalidate the policy.
Unoccupied periods also matter. Most policies restrict cover once a property has been empty for 30 to 45 days, so tell your insurer between tenancies rather than hoping.
Important
Buildings and contents insurance is general insurance. Cover, limits and exclusions vary by policy, so always read the policy summary.
Most buy to let mortgages are not regulated by the Financial Conduct Authority.