What Landlord Insurance Do I Need?

With so many types of landlord insurance available, it can be hard knowing what’s best for your needs. As chartered insurance brokers specialising in block of flats insurance policies, we offer a comprehensive package of covers. This is to provide both you and your tenants with the peace of mind that you have the right protection.

What is landlords insurance?

Landlords insurance is designed to protect landlords from financial losses. This includes covering apartments and rented properties. Landlords insurance policies cover a broad range of perils and insured events. There are many different types of landlord insurance that each cover specific events. Depending on which you choose, these could include protection for loss of rent, landlord’s liability, structural property damage, and many more.

What are the types of landlord insurance policies?

There are several components to landlord insurance that apply to different property and tenancy types. At Flats Direct, we often arrange a 'package' of cover to help ensure there is less chance of any gaps in protection.

A few of the main types of landlord insurance covers include:

  • Buildings insurance 

Insurance for damage to your property including permanent fixtures. Buildings insurance for blocks of flats typically covers damage caused by incidents like fires, floods, storms and even theft.

  • Contents insurance

Covers the cost of replacement or repairs on any items you provide. This can range anywhere from kitchen equipment to carpets, furniture and so on.

  • Employers’ liability insurance

A legal requirement for landlords who hire any staff to work on the property. This encompasses gardeners, cleaners, electricians, etc, if they are injured or fall ill when working for you.

  • Public Liability insurance

Pays for compensation and legal fees for when someone takes you to court because of an accident they had at your property. This could be someone tripping over a loose step and breaking their leg.

  • Loss of rent insurance

Covers the payments for loss of rent due to an insured event. Loss of rent is not included as part of the buildings insurance, so it’s important to know exactly what falls under each section of cover.

  • Terrorism insurance

This provides important cover to minimise losses in the event of terrorist activity.

  • Alternative accommodation insurance

Pays for accommodation fees needed when re-housing tenants due to an insured event. For example, this insured event could be water damage caused by flooding which means you need to move tenants out to carry out the necessary repairs.  

  • Malicious damage insurance

Provides cover for the cost of any intentional damage caused to the property. Vandalism or damage caused by third parties should be covered in your buildings insurance policy.

There are many other components to landlord insurance policies, so it's best to seek professional advice to make sure you have the most suitable insurance policy for you and your block of flats. You can also find block of flats insurance FAQ’s on our website.

Is landlord insurance required by law?

Other than employers’ liability, landlord’s insurance is not required by law. Although, if you have a buy-to-let mortgage, buildings insurance is likely to be a condition of the loan.

Despite the fact they are not required by law, landlord insurance policies are highly recommended. Without landlord insurance, you will have to cover any costs you incur yourself. The figure of this can prove to be very costly if a serious problem occurs.

Landlords insurance policies that suit you

Here at Flats Direct, we strive to find and provide landlords and owners of blocks of flats with insurance you can rely on. We acknowledge that each individual will require tailored landlord insurance which is why we spend the time to get to know you and your needs.

Flats Direct has built a reputation for providing high-quality policies at affordable prices. Whether you need buildings insurance for blocks of flats or the fully expanded package of specific landlords insurance, we have you covered. We also offer our services for right to manage companies and those managing a block of flats. To get more information and guidance on landlords insurance and the block of flats insurance we offer, speak to us today.

Get in touch

Contact Flats Direct by email at info@flatsdirect-uk.com or give us a call

0800 731 6242