BUY-TO-LET INSURANCE
Our specialist landlord insurance can also be suitable for residential buy-to-let properties.
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What is landlord insurance?
As a landlord, there are many potential risks associated with letting your property. If your property or its contents are damaged, standard home insurance is unlikely to provide suitable cover. However, specialist landlord insurance can help to protect your rental property from various issues under one policy.
Having landlord insurance in place can help provide protection for the risks associated with renting out a property.
This insurance can help safeguard your property from various potential damages, including those caused by storms, fires, or other external or internal factors. It can cover buildings and landlords’ contents, in case of loss or damage resulting from an insured event. Additionally, landlord insurance may offer coverage for accidental damage, loss of rental income, emergency situations, and malicious damage caused by tenants.
What is covered by landlord insurance?
Landlord insurance covers a range of different perils. Discount Insurance’s landlord insurance can include the following:
- Buildings insurance - for the cost of repairing or rebuilding your property if it’s damaged or destroyed.
- Contents insurance - from furniture to fridges, contents insurance helps to protect free-standing contents inside the property against damage or loss.
- Property owner’s liability insurance - protection against third-party claims.
- Loss of rent or alternative accommodation cover - for lost rental income or alternative accommodation after an insured event if your property becomes uninhabitable.
- Malicious damage caused by a tenant - protection against intentional damage to the property caused by the tenant.
We also offer stand-alone Legal Expenses & Rent Guarantee insurance.
Policy limits and exclusions may apply, please see the policy wording for full terms and conditions.
| Terraced and end terrace houses | Semi-detached |
| Detached houses | Bungalows |
| Maisonettes | Flats |
| HMOs | Shared accommodation |
| Student accommodation | Unoccupied property |
Discount Insurance landlord policy benefits
The following policy benefits can be included with your cover:
- Loss of rent cover if your tenant(s) are no longer paying rent because your property becomes uninhabitable due to an insured event such as a fire or flood.
- Property owner’s liability of up to £5,000,000 to cover you for costs or damage that may be awarded to a member of the public should they suffer an injury on your property.
- Contents cover, which can be used to replace possessions belonging to the landlord, following damage caused by an insured peril.
- Cover for the cost of replacing locks and keys after a break-in or burglary.
- Cover for a wide range of tenant types.
- Cover for properties owned under a company name.
- Quotes are provided for unoccupied and occupied units, non-standard construction, and residential and commercial tenants.
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Although landlord insurance isn’t a legal requirement, many standard home insurance policies won’t cover you if something happens to your rental property. Therefore, specialist landlord insurance can provide more suitable cover. Plus, most buy-to-let mortgage lenders will ask you to take out insurance before your tenants move in. So, securing a tailored policy beforehand is a sensible move.
There isn’t a fixed price for our landlord insurance. How much you pay can depend on the level of cover and various other factors, including:
- Your property type – the size and style of your property can affect the cost of landlord insurance. For example, your policy could cost more if you need cover for a 6-bedroom detached home instead of a 1-bedroom flat.
- Property location – some areas are deemed higher risk than others, which can inflate the price of landlord insurance.
- Rebuild cost of property – this is how much it would cost to rebuild your property from scratch. The higher the rebuild cost, the more your landlord insurance can cost.
- Tenants – your tenants’ circumstances can affect the price. For example, if they are working, retired, students, or asylum seekers.
- Type of insurance cover – the more cover you require, the more your policy can cost.
- Levels of excess – if your policy has different excess levels, opting for a higher level of excess could reduce the overall premium.
We can provide quotes for unoccupied properties, subject to various risk factors, such as how long the property has been unoccupied for and what the future plans are for the property.
Cover for fixtures and fittings, such as a fitted kitchen or a fitted bathroom, can be covered with your policy. You can read your policy wording to see what’s included.
Yes, landlords can insure multiple properties under one master policy and can take out cover with a single payment. Each property will also have its own individual policy reference number. This kind of policy for property portfolios is also known as multi-property insurance.
You can add or remove any new or existing properties on a pro-rata basis, as and when you require. When the time comes, renewing your portfolio can be a straightforward task, as all properties can be held under one annual renewal date. Insuring your properties this way may result in savings, both in terms of time and admin fees.
If you require insurance for a commercial let property, please explore our Commercial Property Insurance. This coverage can be suitable for a variety of commercial property types.