How does landlord insurance affect your life?

Landlord insurance is something that seems to confuse quite a few landlords. It isn’t a legal requirement so it could be seen it as a waste of money, some may even think that it only covers if their property gets set on fire.

So it gets forgotten about, with the excuse that ‘I will get round to it.

What people don’t realise is that it covers so much more than the occasional arsonist tenant.

So next time your landlord comes to you and asks about landlord insurance, send them to this blog post and make sure they understand all the benefits from that monthly payment.

Protecting their investment

It is important to remember that their property is an investment, it is something that not only brings in a monthly income but will continue to do so and something that can be inherited, setting up their family with a shortcut into the property industry.

The investment won’t bring in much money if it is a fire shell, buried in water damage or any other kind of damage.

A lot of trust is required when renting a landlord’s property out to a complete stranger and having insurance will give landlords peace of mind.

Missed rent

If a tenant decides to stop paying rent (breaking their rental agreement). It may be difficult to recover those missed payments (the tenant is definitely going to be reluctant to pay up)

With many landlords insurance policies the landlord will be covered for loss of rent, ensuring that the earnings are covered. It even applies when the landlord is losing out on rent because they are waiting for the property to be repaired.

Repairing the property

Now if an insurer is willing to pay the rent the landlord misses while the property is being repaired, the insurer is going to want the property fixed pretty quickly.

So when it comes to damage made by the tenant the landlord will receive compensation for how much it takes to replace or repair whatever was damaged. This means that the landlord can be sure the property will be back to living standards as soon as possible.

Like we mentioned earlier it is the landlords choice but lets imagine the landlord has read this blog and decided to purchase landlord insurance (hooray)

So a landlord will then hopefully shop around and find the right plan that suits them (comparison sites are a life saver). There are usually flexible payment options that do their best to suit everyone.

If a landlord has more than one property then it is much like have multi-car insurance. They will find their cost is greatly reduced for the second property.

So in conclusion, insurance is good. It brings peace of mind, it helps when repairs come at inconvenient time, tenants can be unpredictable and landlords insurances means that you can be sure that there will never be irreparable damage to your property.

Give us your thoughts on landlord insurance, @LettingCheck

You May Also Enjoy

small house bird box
Breaking News

UK First Time Buyers better off than many other global nations

Is it really that bad being a first-time buyer? UK better off than many other global nations when it comes to affordability The latest market analysis from Yopa, the full-service estate agents, reveals that first-time buyers (FTBs) in the UK may be paying 63% more to get a foot on the property ladder than they…
Read More
new build homes colchester essex
Breaking News

Building Safety Regulator Reform

The Government has announced reforms to the Building Safety Regulator, including leadership, process and investment. The changes are hoped to deliver 1.5 million homes. The reforms pave the way for creation of a single construction safety regulator, as recommended by the Grenfell Tower enquiry. David Smith, property litigation partner at London law firm Spector Constant…
Read More
Breaking News

New anti-money laundering rules now in effect: what landlords need to know

New anti-money laundering (AML) rules came into effect this month, marking a significant change for landlords and the lettings industry as a whole. The new rules mean financial sanctions checks are now required for all lettings, regardless of how much rent is charged. Here, Steve Bond, managing director of residential lettings for Beresfords, explains what…
Read More
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More
Breaking News

Mortgage approvals bounce back in May

The latest figures show that: – Mortgage approvals on house purchases for May sat at 63,032 up 3.9% from 60,656 in April. The monthly increase seen in May marks the end of four months of previous decline, with approval levels having fallen each month since January of this year. Approvals are also 2.5% higher than…
Read More
Breaking News

Money and Credit – May 2025

Key points: Net borrowing of mortgage debt by individuals increased by £2.8 billion to £2.1 billion in May, following a large decrease in net borrowing of £13.8 billion to -£0.8 billion in April. Net mortgage approvals for house purchases increased by 2,400 to 63,000 in May. Approvals for remortgaging also increased by 6,200 to 41,500…
Read More