Do you own a buy-to-let property? Regardless of whether you have just one property or a vast portfolio, landlords’ insurance is essential.
Whilst similar in nature to a standard homeowner’s policy, landlords’ insurance is specifically tailored to protect against risks you’re likely to face as a landlord.These can include risk of injury liability to your tenant, potential loss of rental income if you experience a period with no tenant, and property damage within the home.
Coverage for these additional risks are the reason that landlords’ insurance policies are more expensive than a standard homeowner policy. But beware – should your rental home be damaged in any way, you may be denied coverage if you only have standard homeowner’s insurance.