Landlords and Liability: Make Sure of Your Insurance

If you are a landlord, ordinary domestic insurance won’t cut it. We asked the experts at WTJ for their advice

  • I only have one rental property; do I need specialist landlord insurance?

    Yes. A rental property is an asset which needs to be suitably insured, and not doing so could leave you in financial difficulty. A standard policy would provide cover for your buildings, contents, liability as a landlord, and loss of rental income.

  • My rental property portfolio is growing, can my insurance policy be adjusted to cope?

    Yes, we would recommend buying a policy where the insurers can add additional properties throughout the term. This could be the addition of new properties, or the consolidation of your existing arrangements to one ‘block policy’. Not only does this make it easier for you to manage, but it tends to work out cheaper and ensures that your insurance company are aware of any material disclosures such as claims on other properties.

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  • Can I get landlord insurance for all kinds of property? What about unoccupied properties?

    Yes. Everything is insurable! As a broker we have a panel of insurance companies available to ensure that cover is tailored to your needs. This can include single flats, blocks of flats, single houses, HMO’s, commercial properties and unoccupied properties including properties undergoing refurbishment.

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  • What is the rebuild sum insured and how do I find this out?

    When obtaining quotes for your landlord insurance you are likely to be asked for the rebuild / reinstatement sum insured for the property. This shouldn’t be confused with the market value! The rebuild sum insured should include costs to rebuild your property in a total loss scenario. This should include debris removal, legal fees, and materials and labour.

    You may find your rebuild sum insured in a survey report of the property. Alternatively, you can hire a surveyor or use the rebuild calculator – a link to which is included in the following article:

  • Why should I use an Insurance Broker when I can cut out the middle-man and go direct to an insurer?

    A good Insurance Broker will act in your best interests when you need them the most, so that you’re not alone when you need to make a claim.

    Insurance Brokers often have exclusive deals with wholesale insurers that cannot be accessed by the general public, so cutting out the middle-man doesn’t necessarily mean you’ll make any savings.

    Remember that Insurance Brokers are experts in their field – so you don’t have to be!

  • What is the difference between Loss of Rent / Alternative Accommodation and Rent Guarantee?

    Loss of Rent or Alternative Accommodation should be included on a standard Landlord Policy. If your property suffers a claim resulting in your tenants having to move out of the property, this will provide cover for the lost rent or the provision of alternative accommodation.

    Rent Guarantee provides cover if your tenants simply stop paying their rent.

  • What is Property Owners’ liability?

    Also referred to as ‘Landlord’s Liability’ or ‘Public Liability’, this will provide cover if a third party (including your tenants) suffers injury or loss on the premises. An example would be if a tenant tripped over a loose carpet. This is an important cover to have, considering the claims culture that is often encouraged by ‘no win no fee’ companies.

  • My current insurance excludes accidental damage cover – does this mean I wouldn’t be covered if my tenants accidently cause a fire at my property?

    No! Fire is a separate insured peril, so even if your policy excludes accidental / malicious damage, you would still be protected in the event of a fire.

    An example of accidental damage would be if your tenants went in the loft and accidentally put their foot through the ceiling below.

  • What other cover options are available?

    In addition to the standard covers on a landlord policy, you can also purchase a policy to cover you for Legal Expenses and Rent Guarantee. This would provide legal assistance should you need to evict a tenant, whilst claiming back unpaid rent.

  • Where can I find out more about WTJ?

    To find out more, you can visit our website; or contact us by email on or phone us on 01924 871111. Alternatively, you can find us on Facebook.

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