Landlords Insurance protects property owners against loss or damage to their rental property. It usually includes protection against the same perils normal home insurance does, including cover for buildings and the landlord’s contents.
Loss or damage resulting from most types of fire is covered, excluding some situations such as explosions resulting from fire, fire damage caused by an earthquake or the property undergoing a heating process.
All damage or destruction caused by lightning is covered whether it results in fire or not.
Limited cover for damage caused by explosion of boilers or gas used for domestic purposes only.
- Storm or Flood
Excluding damage resulting from frost, subsidence, ground heave, landslip or attributable solely to change in the water table levels.
- Escape of Water/Oil
From any tank apparatus, pipe or sprinkler installation, excluding damage to vacant or disused portions of the building, or when the escape is caused by frost.
- Theft or Attempted Theft
Excluding damage to vacant or disused portions of the building, or damaged caused by employees, tenants or other people lawfully in your premises.
- All Risks Cover
This type of policy extends the basic fire and special perils cover by including all accidental loss or destruction of or damage to the property insured that is not specifically excluded.
This cover can also be extended to protect landlords against malicious damage by a tenant, theft by tenants, legal expenses, loss of rent and tenant rehousing costs following an insured event.
- General Exclusions
Like most insurance policies, war risks, radioactive contamination and terrorism are usually excluded.
Tailored to suit your property, a standard Landlord Insurance policy covers loss or damages caused by:
- Lightning, storm or flood
- Escape of water/oil
- Theft or attempted theft
- Malicious damage by a tenant
- Theft by tenants
- Legal expenses
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