Compare Landlord Insurance
What is Home Landlord Insurance?
Home landlord insurance, also known as landlord insurance, is the type of insurance that covers and protects property owners from damages on their rented property or building. These damages might be naturally occurring, e.g. flood, storm. They can also be caused by man, for example, fire, burglary, etc.
Landlord Insurance and Home Insurance
Unlike the standard home insurance which only gives you insurance against uncontrollable factors such as fire outbreak, flooding, mud and landslides, earthquakes, etc. insurance for landlords protects you from any type of financial loss involved with rental buildings.
With landlord’s buildings and content cover, the landlord and the tenant alike enjoy the benefit of this protection. Perils such as fire and lightning, flood, storm, leaks, loss of water or oil. Earthquakes, explosions, subsidence, trace and access theft, vandalism, etc.
It also protects the landlord from loss of rental income. Several factors may be responsible for nonpayment of rent such as Illness, court order, loss of job and so on. Once you compare landlord building insurance quotes, you are at ease with the clear knowledge that you are fully protected from these mishaps.
Is Landlord Insurance Cover Required?
Legally, there is no rule enforcing the adoption of this insurance. For most homes, a regular home insurance is enough. However, a home insurance will not cover you when any rental mishap occurs. If you have a buy-to-let mortgage on your property, you are highly advised to compare cheap landlord insurance.
Specialist Landlord Insurance
Specialist landlord insurance provides landlord insurance on damages to property that is on rental. They often go as far as protecting you in cases of a lawsuit from a tenant. Normally, tenants might get injured and they would leverage on the poor fittings or covers in your apartment. Specialist landlord insurance handles the legal cost and also provide free legal advice. In addition to these, they repair and replace fittings, tiles, curtains, etc.