Extensive Cover Against Fire, Subsidence, Water Damage, Vandalism And More
Landlord Contents Cover Provided Free
Public Liability Cover Included In Every Policy
Cover For All Types of Tenants
UNDERWRITTEN DIRECTLY THROUGH LLOYDS
TALK TO AN EXPERIENCED UK-BASED SPECIALIST
COVER FOR ALL TYPES OF TENANTS
AWARD-WINNING INSURANCE PROVIDER
"I was looking to renew my building and contents insurance. With the main home and a second home it is not that straight forward as we sometimes let out the second home. Emerald were swift and to the point when I spoke to them. I couldn't believe that they managed to save me approximately 25% on my policy! Amazing. Everything was so straight forward and I recommend them very highly." - Rex Chalmers, Property Developer
LANDLORD POLICY WORDING
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INSURANCE PRODUCT INFORMATION DOCUMENT (IPID)
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If you are a landlord then you will want to protect your investment in a let property with landlord insurance.
That covers damage to the property and in certain cases where you are unable to let the property and receive rental income. Insurance cover for landlords is different from standard home insurance for a wide variety of reasons and because of this you cannot buy standard home insurance for a let property and assume it will cover you.
That also means that you may need to change your insurance product if your property ceases to be your main home and becomes a buy-to-let property.
If you have to make a claim and you haven't told your insurer that the property is let then you may find they will refuse to pay out.From the insurer's perspective there is a higher risk for the cover as you are not at the property and are instead relying on tenants to look after it. Tenants are often seen as higher risk than someone who owns their own home. Obviously as a matter of good practice it is always wise to be careful when selecting tenants. Even where you do make a claim under an insurance policy, the premium may well rise each time, so better tenants are cheaper in the long run! Also often an insurance premium will vary depending on the type of tenant you have, or want.
When you want to compare landlord insurance you should look carefully at what is covered.
Some insurers provide accidental damage cover and cover for things like loss of rent if your tenant is unable to pay, or you are unable to let out your property.
Accidental damage cover can help with things like broken windows or damaged carpets. These again are often more likely in a rented property. Cover for loss of rent is also an important consideration if you are dependent on the income from your property or are paying for finance on your buy-to-let property.
Landlords insurance can also be split into landlords building insurance and contents insurance. Buildings insurance covers the physical structure of the building and is usually required if you have a mortgage on the property. This is to cover and protect the value of the property to your lender in case of a disaster like fire or flooding.
If your property is a flat or apartment, then there is usually a communal buildings insurance policy with the costs divided between the flatowners. If your flat is in Scotland, then there is a form of buildings insurance available, with each flatowner insuring separately.
Even if you don't have a mortgage buildings insurance for landlords can be a wise idea to protect your own investment in the home. Like any insurance policy, you should compare landlord insurance paying close attention to your needs.