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.
Usually good landlord insurance policies will the following risks:
Malicious Damage by Tenants
Alternative Accommodation and Loss of Rent
Landlords Fixtures and Fittings
Fire & Smoke damage
Vandalism & Theft
Oil or water leak
Lightening and Storm (excludes gates and fences)
Impact from vehicles, falling trees, animals, aircraft, aerials and masts
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.