Landlord insurance

What is landlord insurance?

Landlord insurance is a type of insurance policy specifically designed to protect those who own investment properties from the risks that come with renting it out. It generally covers events that cause a loss of rental income, theft or damage to your property.

There are generally three components of landlord insurance:

• The part that covers loss of rental income
• Building insurance’ which covers damage to the property’s structure
• Contents insurance’ for protection against damage to what’s inside the property (e.g. carpet, appliances)

What does landlord insurance cover?

A landlord insurance policy may cover you for the following things:

Tenancy cover

• Damage or theft by tenants or the tenants’ invited guests
• Loss of rent
• Rent default
• Legal expenses taking tenants to court
• Liability

Building cover

Damage to the building structure as a result of:

• Fires
• Lightning strikes
• Storm damage
• Floods
• Falling trees
• Explosions
• Earthquake
• Vandalism
• Vehicle collisions
• Water damage

Contents cover

Damage to contents (e.g. curtains, carpet, appliances, light fittings) as a result of:

• Fires
• Lightning strikes
• Storm damage
• Floods
• Falling trees
• Explosions
• Earthquake
• Vandalism
• Vehicle collisions
• Water damage

These are just some of the more prominent examples of what’s covered by landlord insurance. There are more obscure things that will vary from provider to provider, like the replacement of locks.