Landlord Building Insurance

What is landlord building insurance in the UK?

This is a specialist insurance for property owners who rent out their buildings. It’s different to standard home insurance. Landlord insurance is specifically designed to address the risks associated with renting out residential or commercial properties. It offers letting-specific cover for the type of tenants and buildings you have.

Do I need building insurance as a landlord?

No. You are not legally required to have building cover. However, for most landlords, having at least basic building insurance is an important safeguard. It protects your investment and meets lender requirements if you have a mortgage. It covers the unique risks of letting a property which standard home insurance does not cover.

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What types of rental buildings can I insure?

Building protection can be tailored to cover most types of rental properties, whether residential or commercial. However, commercial properties may require specialised commercial building insurance. Even expat landlords living abroad can get building insurance for the following types of properties in the UK:

Detached, semi-detached, or terraced building

Individual property or block of flats

Airbnb property, or student accommodation

Commercial properties like shops, offices or other rented-out buildings.

Multi-property if you own multiple properties or buildings.

House in multiple occupation (HMO)

What does landlord building insurance cover?

Typically covered

The main structure of the building is covered against damage from fire, theft, vandalism, or accidental damage.

This includes the walls, roof, floors, windows, and permanent fixtures of the building. Cover can extend to outbuildings like garages and sheds.

Depending on the specifics of the policy, even fences or boundary walls may be covered.

Optional additional cover

Landlord contents
Rent guarantee
Landlord liability insurance
DSS landlord insurance
Legal expenses

Usually not covered

Wear and tear
Faulty repairs or neglect
Tenant’s belongings
Landlord’s belongings
Damage during long periods of unoccupancy
Malicious harm by tenants
Pest infestations like vermin or insects
Pre-existing damage before the start of the policy
Undeclared business activities
Flooding may not be covered

How much does landlord building insurance cost?

The cost can vary a lot depending on several factors. These factors affect your risk profile as a landlord, and your premium will be adjusted accordingly. The cost can be affected by:

Size and age of the property

Location

Security features

Number of tenants

Types of tenants

Level of cover

Claims history

Annual or monthly payments

How can I get cheap building insurance for landlords?

There are a number of things that could help your search for cheaper landlord building insurance quotes.

Compare quotes

To increase your odds of finding cheap insurance, compare multiple quotes from various insurers. We can help you source a wide range of quotes.

Pay annually

Monthly payments usually cost more due to the additional interest and administration costs. Paying annually generally lowers premiums.

Increase security features

Increasing the security features of your property lowers the risk of theft, vandalism or other types of damage. Insurers may offer a discounted price for adding industry-approved security. This could include alarms, smoke detectors, and cameras.

Bundle policies

It can be cheaper to bundle policies together if you’re planning on taking out multiple types of cover. An example would be to combine landlord building and contents insurance. However, to keep costs to a minimum, only take out the cover you really need.

Avoid property vacancies

Vacant properties are considered a higher risk. They’re vulnerable to risks like theft, vandalism, and undetected damage. If your property is left unoccupied for 30-60 consecutive days, you’ll typically need specialist unoccupied property cover.

Vet tenants carefully

You can potentially get fewer exclusions or lower excesses by proving that your property is well-managed. This includes vetting your tenants. That’s because reliable tenants usually mean fewer claims.

Maintain a claims-free history

For every policy year that you don’t make a claim, you could be rewarded with a no-claims discount (NCD). Discounts can reduce future premiums.

Cheap Landlord Buildings Insurance Quotes

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