A First-Timer’s Guide to Landlord Building Insurance

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Congratulations on becoming a landlord! Renting out a property can be a great way to generate income, but it also comes with responsibilities. One crucial step to safeguard your investment is obtaining landlord building insurance.

This guide will equip you, the first-time landlord, with the knowledge to navigate the world of landlord building insurance.

Why Regular Home Insurance Isn’t Enough

You might be tempted to use your existing home insurance policy for your rental property. However, standard homeowner’s insurance typically excludes damages caused by tenants or the specific risks associated with renting. Landlord building insurance provides specialized coverage tailored to the realities of being a landlord.

We also do commercial insurance, if you would like an instant quote click here.

What Does Landlord Building Insurance Cover?

Landlord building insurance protects the physical structure of your property. Here are some common examples of covered events:

  • Fire and explosions
  • Flooding and storms
  • Subsidence (property sinking)
  • Theft or vandalism (may require additional coverage)

Additional Considerations

  • Contents insurance:

If you’re renting out a furnished property, you might need separate contents insurance to cover furniture and appliances.

  • Loss of rent:

Some policies offer coverage for lost rental income if the property becomes uninhabitable due to a covered event.

  • Public liability:

This protects you from legal costs if someone gets injured on your property.

Getting a Quote

To get a quote for landlord building insurance, you’ll need to provide information about your property, such as:

  • Address
  • Type of property (house, flat etc.)
  • Age of the building
  • Building materials

You’ll also be asked about your tenants and the level of cover you desire.

Call us today to do a quote over the phone on 01273 827090 or click here to get an instant quote.

The Bottom Line

Landlord building insurance is an essential investment for any first-time landlord. After all, it provides peace of mind, knowing your property is protected against unforeseen events. Additionally, by understanding the types of coverage available and comparing quotes, you can ensure you have the right insurance in place to safeguard your investment.

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