Landlord Insurance; Why is it Essential?

Every week, around 200 people find themselves becoming landlords, most of them owning at least one property to rent.

Whilst the numbers are high, it doesn’t suggest that they are prepared for this new role; more than a third (35.6%) of the UK’s landlords don’t have the right buy-to-let insurance, and this can simply be due to the fact they’re not aware of what it takes to be an official property manager.

Read on for a brief introduction on how to achieve the best landlord insurance; what any aspiring landlord must have if they’re to be successful.

Home Insurance

Home insurance is a must-have for safeguarding the property you live in, but it doesn’t cover the additional, everyday needs of landlords such as:

  • Liability and legal cover (offering protection in case tenants are injured inside your property)
  • Rent protection (guarantees your income even where the property is vacant due to fire, flood or major damage)
  • Alternative accommodation cover (your tenants might need to vacate the property during repairs)
  • Landlord contents insurance (to protect your possessions)

Landlord Insurance

It it should now make sense to have a buy-to-let insurance policy cover, which will cover all the problems mentioned above. And if you want to expand your business, it can also be extended as multiple property cover.

Landlord insurance can also help you deal with situations of property damage. Accidental damage cover protects your property’s structure, floors and fittings from a range of accidents, small or large.

While it’s not legally required, specialist landlord insurance is the best way to prepare for costly unexpected events and protect your property investment. If you’re not sure where to go from here, Cubit Insurance can provide you with bespoke quotes and answer all of your questions.

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