Landlord Insurance

83dons2

Is there an article on this somewhere? It seems very complicated. Which elements are a must, which are worthwhile but not required and which are most likely not required at all? This would help when compiling a quote. Thanks.

rs65

Have a look at directlineforbusiness.  They have a landlords insurance page which has a pretty clear summary of standard cover and optional cover

joanneharris

I would say Buildings is the only "Must" as mortgage providers will generally require a property to be insured. Also, can you afford for your property to burn to the ground (heaven forbid) without it being covered?

"Worthwhile" would be contents (only if the property is furnished) and possibly legal protection if you are worried about any legal issues that might come up.

"Not required at all"... well, I don't think you could say any type of insurance is not required especially if something happens that would be covered by an insurance policy. I would say rent insurance and boiler insurance are "less required" as heard these aren't great policies in terms of what they cover but if you want total peace of mind then maybe they are "worthwhile".

Maybe speak to an insurance broker who can assess your situation and what you want and they can arrange a suitable package. I've done this many a time with my insurance broker and find them to be easier than dealing with confusing online forms.

tasticz

unlike residential building insurances, landlord building insurance is mostly priced on the rebuild cost of the property assuming no adverse claims/history. make sure you are insured adequately and not over as insurance premium increase quite a lot.


you can find the range for the rebuild cost using this link https://abi.bcis.co.uk/