Landlord protection insurance is a type of insurance policy that investors should take out to protect themselves from some of the financial risks associated with their rental property.
Landlord insurance is much like building insurance but better catered to the needs of landlords and property investors, covering a broader range of risks.
Standard building insurance will only provide cover for loss or damage to property from unexpected events, like fires, storms and floods. Landlord insurances on the other hand, provides this cover as well as covering the damage to property made by tenants, whether deliberate or accidental.
Landlords Protection Insurance will generally include:
- Building Cover for fixtures and fittings. Some examples include hot water systems, heating, cabinetry, fencing, swimming pools, rainwater tanks, solar panels and even the structure itself like the doors, walls and windows.
- Landlord contents cover includes the big contents items such as light fittings, blinds, curtains, carpets and electrical appliances..
- Public liability in case your tenant or their visitors incur any medical expenses or loss of income because of a public liability incident within your property.