Landlords buildings insurance- what to look for

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    Landlords buildings insurance- what to look for

    I need to insure a rental house. It is occupied by a family on an AST,it has a standard 1960s construction. I need to cover against any damage ( fire, water etc), public liability insurance, is there anything else I should be including?
    Are any companies particularly good/ not so good? Thank you.

    #2
    If the property is let furnished then landlords contents insurance would also be a good idea. Even if it isn't furnished, there is still likely to be a small amount of your contents such as carpets, curtains that you could consider getting cover for. Other things to consider are legal protection cover and rent guarantee cover but these are down to personal preference.

    Try the LandlordZONE Insurance Directory for a list of suppliers who can help you.
    Steve Smith - Company Director at a leading Landlord Insurance broker with 18+ years experience in the industry
    LandlordZONE Verified Poster and Topic Expert for Landlords Insurance since 2009
    See my profile for contact details

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      #3
      Lots of firms are advertisng insurance cover on this LZ website:If you look through the list, you may spot some extra cover .

      https://www.landlordzone.co.uk/suppl...tory/insurance

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        #4
        Beware of some ludicrous T&C's -- for example many policies exclude students. You may not think of your 35 year old wife of your tenant doing a PhD as a student, until your claims get declined. Read carefully, and bear in mind that if your tenants change during an insurance period you may be left stranded.

        Legal protection cover and rent guarantee insurance are IMHO a total waste of time (or worse).

        You really want to avoid over insuring. In practice you are not going to claim for that spoiled carpet -- a large part of the claim would fall within the excess, and the cost of higher premiums will be greater than the value of the claim (and it may increase the premium on all your other properties and your own home policy as well). The point of insurance is to prevent MAJOR financial distress, not to deal with every loss.

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          #5
          Thank you everyone. In the household only 1 person works, the spouse does not but they have a daughter who is at school. And another whom I understand has left home but comes over to stay regularly. I would need public liability and buildings insurance but can’t really think of anything else I need. I’d say they are unlikely to default.They have been renting the property for about 20 years and so any furnishings that gets damaged are due for replacement anyway.

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            #6
            You need to insure the house for its re-instatement value and there is a free calculator at BICS website :

            https://calculator.bcis.co.uk/

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              #7
              Terrorism buy back should be purchased as an add on if your policy is of such a size that it is not included and also non invalidation extension

              (if your policy is for a "PDH" ie private dwelling house, youll have this inclusively; if a block policy covering multiple risks and potentially more than one landlord entity (ie self and ltd co/LLC) then get your broker to add such extensions to provide truly comprehensive cover....

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                #8
                Originally posted by Gordon999 View Post
                You need to insure the house for its re-instatement value and there is a free calculator at BICS website :

                https://calculator.bcis.co.uk/

                If you have something unusual, or a block of flats the usual wisdom is that you really ought to get a reinstatement valuation every ten years or so, the cost is surprisingly reasonable.

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