Landlords Insurance

Whether you are just renting out your second home, or have moved and are unable to sell your property and are renting it out, or you are a property tycoon who has numerous homes being rented, you will need to purchase landlord insurance to protect your investment.  When your property is considered an investment, rather than your home standard home insurance policies won’t pay out if a property which is being used to make an income so it will be invalid.

What you do need is a residential landlord’s policy, to protect your investment. You will then be covered in the event that damage is caused to your property such as fire damage, flood damage or damaged caused by tenants. Your policy will cover repairs and also any missed rent payments, if you are unable to have anyone residing in the property whilst work is being carried out.
You can also include Legal Expenses cover so you can be protected against non payment of rent, which means if your tenants fail to pay rent owed and won’t leave the property, your insurer will cover legal expenses accrued during any court cases taken out. If you are renting out more than one property, you don’t have to take out several different policies, you can buy one landlords insurance policy to cover multiple properties.