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Residential Landlord Insurance
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Insurance for buy-to-lets, rentals and to cover lodgers
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What is...
residential landlord insurance?
Renting out a property is great for your back pocket when it’s all going to plan, but you never know when something could go wrong. Having tenants can be a risky business, and standard home insurance simply won’t cover you.
Fires and building damage to tenant-related issues and legal disputes, could all leave you out of pocket if you were to suffer a claim and have to pay out yourself.
Whether you're a first-time landlord, manage multiple rentals or simply have a lodger in your spare room, landlord insurance can help provide protection against the unexpected costs that come with being a property owner.
Why should landlords get insurance?
While landlord insurance isn't a legal requirement, it is essential for anyone renting out property, because:
- Standard home insurance doesn’t cover rental properties
- Your mortgage lender might require you to have building insurance as a condition of the loan for your buy-to-let mortgage.
- Tenants could damage your property
The right insurance can help cover your losses if a claim is made against you or if you need to make a claim.
What does residential landlord insurance cover?
Policies will vary per insurer, and terms and conditions apply, so always check the small print in your policy wording to see what’s included and excluded. It could include:
Building insurance
Protects your building from unforeseen property damage including fire, storms, floods but also arsonists and vandalism.
Landlord contents insurance
Covers repair costs from damages to contents you own in the property, for example carpets, furnishings, and lights.
Loss of rent receivable insurance
In case you’re unable to rent out your property due to an insured event like fire or flood.
What doesn’t it cover?
As a landlord, you are responsible for insuring the building, but you’re not responsible for everything. Some insurance should be arranged by the renter. Residential landlord insurance doesn’t cover the following:
- Missed rent payments – We are unable to provide financial protection against missed rent payments from tenants.
- Pre-existing damp issues - Landlord insurance doesn’t cover rising damp as this means it’s not in good condition and shouldn’t be rented out. Your policy could be invalidated if you don’t tell your insurer you have existing damp problems.
- Tenant belongings - Your policy won't cover any items that belong to your tenants. They need their own contents insurance to protect their possessions.
- Deliberate damage by tenants – If a tenant deliberate damages your property with malicious intent, this is unlikely to be covered.
- Pest infestations - Landlord policies don’t always cover pest infestation and damage but, damage caused by tenants that leads to pest problems may be recoverable through your deposit.
Policies vary per insurer. Always refer to your policy wording to see what’s included.
What type of rental properties can you cover?
Landlord insurance can be tailored to cover various types of rentals:
- Residential buy-to-let properties - Standard houses and flats bought let to tenants on assured shorthold tenancies.
- Houses in multiple occupation (HMOs) - Properties let to multiple tenants who share facilities. These can require specialist cover due to the higher risks involved.
- Holiday lets - short-term rental properties, though note that the special tax regime enjoyed by furnished holiday let (FHL) landlords, that classes them as businesses and provides lots of benefits to owners of furnished holiday lets, would be abolished from 6 April 2025.
- Student accommodation - Properties designed to be let out to students whether these are flats or shared houses
- Lodger arrangements. Under the UK's rent-a-room scheme, homeowners are allowed to earn up to £7,500 a year tax-free by letting out a furnished room in their home. But any standard home insurance becomes invalid as soon as you have a lodger, so you’ll need to arrange business landlord cover.
Policies and cover vary per provider, and limits and exclusions apply. Always check your policy wording to see what is and isn’t included.
Real estate isn't just about properties, it's about strategic investments protected by comprehensive insurance that turns risks into opportunities.
James Barwell, Insurance Director
Do you need cover even if the property is vacant?
You still can get insurance if your property is vacant as it’s still at risk of fire, theft or break-ins. If your property is empty (even if you're checking on it regularly), you may need unoccupied landlord insurance. Get in touch with us today to arrange this.
If your premises is empty for any length of time beyond the permitted number of days allowed (this is normally 60 days, but check your existing insurance policy), you need to let us know by calling 0800 158 5263 so we can inform your insurer.
How much does landlord insurance cost?
Because not all arrangements are the same, it’s difficult to give a solid figure for what you’ll be paying for insurance without speaking to a broker. It depends on a number of factors, including:
- Extent of cover — The more cover you opt for, the more expensive your package will typically be.
- Your insurer — Depending on who is willing to insure you, the price will vary.
- Location — The location of your property is taken into consideration when calculating the cost of your premiums.
- Claims history — If you’ve made a previous claim on your policy or had claims made against you, it may affect your future premiums.
Sort insurance for your investment with Bionic
At Bionic, we champion UK business owners and want to help in every way we can. That’s why we use a team of knowledgeable insurance brokers who work with a panel of trusted insurers to help you find coverage for your needs.
Our UK-based team helps business owners to compare business insurance quotes and find the right insurer that fits. Get in touch with us today by starting a quote online.
Start your quote online today and compare business insurance or chat with our knowledgeable team, to find tailored cover that fits your needs.
How Bionic business Insurance comparison works
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What do I need to get started?
You only need a few details to get started with getting a quote online, so it’s best to have the following information ready to go:
Your business name and trade
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You may be asked additional questions about business activities
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