LANDLORD INSURANCE
Our specialist landlord insurance can help protect your residential rental property.
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What is buy-to-let insurance?
Buy-to-let insurance is an insurance policy designed to help protect landlords who own properties and rent them out to residential tenants. It's also known as Landlord Insurance.
If you're a landlord renting out a residential property, rather than living in the property yourself, you may want to make sure your insurance policy covers you for letting the property to tenants. Landlords' buy-to-let insurance can help to protect your income and safeguard your investment in such cases.
What does buy-to-let insurance cover?
Buy-to-let insurance policies can provide cover against significant risks and legal liabilities that can arise when renting out a property. These can include theft, vandalism, property owners’ liability, malicious or accidental damage, fire, storm, escape of water, and subsidence.
Your buy-to-let insurance can be tailored to include different types of cover.
- Buildings insurance - for the cost of repair or rebuilding after damage to your property.
- Contents insurance - for damage to your possessions and furniture within your property.
- Liability insurance - for claims made against you from third parties for damage or injury caused by your property.
- Loss of rent or alternative accommodation - following the property becoming uninhabitable due to an insured peril.
- Replacement locks cover - the reasonable cost of replacing keys and locks to any external door, following a theft of keys from inside the premises.
We also provide Rent Guarantee Insurance as a standalone policy that can be taken out alongside our buy-to-let insurance. It is designed to help protect landlords from the financial losses that can occur because of tenants failing to pay their rent. This insurance can typically cover rent arrears and legal costs associated with the eviction of a tenant who has not paid their rent.
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 |
What are the benefits of our buy-to-let cover?
You’ll receive the following benefits when you take out cover with Discount Insurance:
- 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 is available 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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*Correct as at September 2024.
Buy-to-let insurance isn’t legally required, but it can be a wise investment to help protect the money tied up in buy-to-let properties. Everyday home insurance might not provide a suitable level of cover for your risks as a landlord and could lead to a large financial loss if something goes wrong with a property or a tenant. It’s also worth bearing in mind that it might be part of your mortgage terms and conditions to have suitable property insurance in place.
The cost of buy-to-let landlord insurance can depend on a range of different 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.
- Level of excess – if your policy has different excess levels, opting for a higher level of excess could reduce the overall premium.
Call our specialist team on 0800 294 4522 to discuss your options or get a quote online.
We can provide quotes for properties that are unoccupied. However, this is dependent on several different factors. Call our specialist team on 0800 294 4522 to discuss your options or get a quote online.
Anyone who owns a single buy-to-let property, or a portfolio of buy-to-let properties can benefit from this specialist cover.