Standard home insurance policies do not normally pay out when a property is let.
Landlord insurance is a specialist policy that covers landlords against a range of eventualities. As well as insuring the building and any contents that belong to the landlord, these policies often provide legal cover.
This may help with the legal costs of dealing with tenant disputes and include other valuable cover including:
- Rent guarantee cover - helps protect landlords against a tenant failing to pay rent or something unexpected happening to the property which makes it impossible to let out
- Landlord liability cover - protects landlords against large compensation claims arising from an injury to somebody that is caused by a fault in their property
Tenants are responsible for insuring their own personal possessions.