Landlords Insurance Obtain the Correct Cover
Property Owners Liability Insurance
Landlords need to protect themselves, and their property, standard property insurance is very different from Landlords' insurance and will not cover you. Property owners' liability typically covers damage to your property, loss of income, malicious damage by a tenant and of course, should a liability claim be made against you it will protect you against financial loss.
Insurance for landlords just like you
When you live in a property regular house insurance is all you need, however, as soon as you start to rent out a property you will need insurance that covers more. Property owners liability will be much more suitable and will provide cover not only for damage to a building but also your income from the property; it will cover your financial losses from a successful liability claim made against you.
Property owners liability may also be arranged to cover multiple properties providing the insurance you need in a single policy
Do you need landlord's liability insurance?
It's not a legal requirement to have it, in fact, the only insurance that is a legal requirement is employer's liability and only of course if you employ someone other than family members. That said, unexpected events could have serious financial implications and may end up causing you more economic problems than expected.
Commercial property insurance, often overlooked by landlords is just as important, and we can also arrange cover for you if you own and rent out shops, offices, surgeries, workshops, etc.
Why ask FML to broker your insurance?
Your adviser will discuss cover options with you; the options available will depend on the underwriter/insurer who issued the policy. Your adviser will also inform you of their recommendations and instruct you on the differences between the various policy options offered.
Through us, you will have access to many of the UK's leading underwriters of real estate insurance products. We can offer you very competitive landlords insurance quotations from a wide range of ABI approved insurers. Having this choice will ensure you have sufficient cover in place, whether it's for one property or your entire property portfolio.
Insurance you will need
- Property owners' liability
- Employers liability
- Property damage all risks
Examples of optional cover
- Loss of rental income
- Legal expenses
- Terrorism cover
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