Landlord insurance is similar to home insurance, but it’s specifically designed to cover rental properties.
The three main types of landlord insurance are buildings, contents and liability insurance.
Beyond these, there are various add-ons you may find useful, depending on the type of property you’re letting. You’ll usually take out insurance on a property-by-property basis, although portfolio policies are available to landlords who own four or more rented homes and want to insure them all at the same time.
Whilst Landlord Insurance has the same principles as insuring your home (buildings and contents), you must have landlord (or sometimes called buy to let insurance) if the property is not your main residence and you rent it to other people.
It takes into consideration risks associated with having a rental property, including protecting your rental income when your property is empty during a rental void or if the tenants are not paying the rent.
You can add rent guarantee insurance and home emergency cover for a moderate extra cost onto your standard Landlord insurance policy.