Hi, my name is Lorna, and I’m and advisor for Towergate.
In this video we’re going to look at the common features of landlord insurance and how they may apply to you.
Whether you have a buy-to-let property or a portfolio of properties, landlord insurance, buy-to-let insurance and commercial landlord insurance are vital to protect your investment and income.
But because of the variety of circumstances and needs of each landlord it’s important to have a policy which is right for you.
Prioritises can change over time so it’s important you have the flexibility in your policy to grow with you and your business. Therefore, as a landlord you want to be able to choose who you rent your property too, whether they are professionals, students or DSS tenants.
Similarly, as you take on more properties you may want to take on more responsibility – or of course remove some of it, so you may what to change the way you manage your properties, whether that be as private rentals or let through an agent.
It’s then important your landlord insurance policy is flexible enough to accommodate this.
As someone with multiple properties, who relies on the income from rent, you may want to insure against ‘loss of rent’ or be able to claim for the costs of alternative accommodation for your tenants in the event of an insured incident such as fire. Follow the link below for our video especially on this type of cover.
It’s also important you are covered for the times when the property is unoccupied. This may be in a gap between tenants or during refurbishment. It’s important your landlord insurance covers these gaps as unoccupied properties face higher risks from flooding, storm damage and theft.
And lastly – as an experienced landlord with no history of claiming, you would want this to be recognised in your premium. Make sure to check with your advisor when getting a quote that a no claims discount is available.
For advice on landlord insurance or more resources on becoming a landlord, visit our website today.