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Landlord insurance offers added protection specifically for landlords who rent out properties. It covers the building against damage from things like fire or flooding, with the option to include contents cover if the property is rented out furnished.
It's not required by law, but it can be reassuring to have. Plus your mortgage provider may require landlord buildings insurance as a condition when you get the mortgage.
You can also add cover to your policy like:
Cover for loss of rent if your tenants can’t pay
Legal expenses cover
While it’s not a legal requirement, many landlords choose to buy specific policies to be sure they have the right level of cover to protect their property.
Landlord insurance covers different types of properties, including:
Residential property such as a home you rent out
Commercial property landlord insurance covers you if you rent out an office, workshop, factory or warehouse to a tenant
Multi-property landlord insurance covers a second home, or more rental properties in a portfolio
Dedicated landlord insurance offers additional cover that home insurance may not. For example, if your tenants damage your property, accidentally or not, you usually can’t claim on a standard home insurance policy. That means you'd have to cover the cost yourself.
Some buy-to-let mortgage providers may also require you to have landlord insurance as a condition of the mortgage.
You may need landlord insurance even if you live at the property. For example, if you have a tenant who pays you, and they live in a part home that you don’t go into, then you should consider landlord insurance.
If you have a lodger, and you are allowed into the area of the home they live in, you can usually add them onto your existing home insurance.
If you're considering or running an Airbnb in one of your rooms, in a property you live at, then landlord insurance won't cover this. You can find out more and get a quote for Airbnb insurance with us.
Either way, check with your insurer first to find out what your options are.
The type of landlord insurance you need depends on what you want to cover. The most common types of landlord insurance are:
Buildings insurance: This covers the structure of your property, including fixtures and fittings, against damage from fire, flood, storms and subsidence. It should also cover outbuildings and sheds, if you have them.
Contents insurance: This covers all furniture and possessions that belong to you. This is useful if you're renting out a furnished or part-furnished property. If your property is unfurnished, your tenants should arrange their own contents cover.
You can also choose from a selection of extras to add onto your policy, including:
Rental protection or tenant default cover lets you claim back lost rent if your tenant doesn't pay. There are usually time limits and exclusions, so it's worth checking the policy details.
Legal cover pays for your legal costs if you have to go to court, up to a limit.
Vacant periods with no tenants covers the property even if it’s unoccupied.
Landlord home emergency cover gives you access to a 24/7 helpline and covers burst pipes, electrical failures and boiler and central heating breakdowns. It also covers the cost of repairing any damage from a home emergency, like a pest infestation.
Property owner’s liability cover to cover any compensation claims if a tenant or third party gets injured on your property, or there’s damage to their possessions.
To get a quote you’ll need to provide some details, including:
If the property is residential, commercial or both
If the property is a holiday let
The type of tenants renting the property
How long you’ve owned the property
How much it would cost to rebuild the property
How much landlord contents cover you need, if the property is part or fully furnished
If you want to add on any optional extras, like legal expenses cover or landlord home emergency cover
The types of locks on the external doors
When you’ve entered all the information requested and chosen the cover you want your policy to include, you’ll see your list of quotes. This shows the annual price you’ll pay, plus a summary of the cover limits provided.
When you’re happy you know the details and have the level of cover you need, select buy and confirm if you want to pay annually or monthly. We’ll transfer you through to our partner Simply Business to pay for your policy.
The cost of landlord insurance depends on a variety of factors, including:
The size and value of the property: More expensive properties mean more expensive claims. And a large, 6-bedroom house has a higher risk of something going wrong than a 2-bedroom flat.
Location: A house in the city could be more at risk of burglary than one in the suburbs. And houses built on certain types of ground could be more at risk of subsidence or flooding.
The type of tenants: Letting a property out to a group of students, for example, comes with a different set of risks than a family or a professional couple.
How you pay for your policy: Usually, paying for your landlord insurance upfront is cheaper than a monthly direct debit.
Your claims history: Insurers use your claims history to estimate how likely you are to make a claim in future.
Since landlord insurance is a business expense, it’s tax deductible. That means you can include it in the section for tax-deductible expenses when you fill in your Self Assessment tax return.
Our top tips to help reduce the cost of your policy:
The level of cover. A fully comprehensive policy with all the add-ons is likely to be more expensive. Make sure you’re only paying for the cover you need.
Pay a voluntary excess to reduce the price of your insurance. But always make sure you can afford to pay the excess if you need to claim.
Pay annually. Paying monthly is often more expensive as it includes interest.
Compare quotes and insurers to make sure you’re getting the best price for the amount of cover required.
Keep your property in a good condition and well maintained. The better the standard of the property, the lower the risk of needing to make a claim and the cheaper your insurance should be.
Avoid small claims if possible. The fewer claims you’ve made in the past, the cheaper your insurance is likely to be. If it's a small job you can fix without your insurer it may be worth considering.
Keep the property occupied, if you can. Leaving the property unoccupied can push the price up.
Above all, it's important to make sure you’re getting the cover you need and not just the cheapest policy possible.
Our trusted partner Simply Business is one of the UK’s largest providers of landlord insurance, covering 315,000 landlords. Since launching in 2005, they've helped over 3 million customers find insurance policies for their needs. They’re a certified B Corporation and their customers rate them 4.7/5 on Feefo.
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Page last reviewed: 27/06/2023
Reviewed by: Matthew Harwood
Confused.com Landlord Insurance is provided by Simply Business. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London EC2V 7NG. Our service is free and compares a range of trusted household names. Confused.com is an intermediary and receives commission from Xbridge Limited which is based on a percentage of the total annual premium if you decide to buy through our website. We pride ourselves on impartiality and independence – therefore we don't promote any one insurance provider over another.
