Our Premier landlord insurance policy includes accidental damage to buildings by a tenant and their guests as standard. Accidental damage is damage that occurs suddenly due to an unexpected and non-deliberate action that is outside of your control. Accidental damage usually includes things like a ball being kicked through the window or banging a nail through a water pipe when trying to hang a picture.
Accidental damage is a type of insurance cover that protects a landlord against something that is both unforeseen and unintentional such as a ball being kicked through a window or a tap left running unattended. Which specific incidents are included will vary from one insurer to another which is why it is worth checking that your landlord insurance provides adequate cover.
Buildings insurance works on the basis of rebuild value, as opposed to market value. If you insure your property for less than the rebuild value then it is underinsured. This would mean that in the event of a claim, insurers will not pay the full amount, they will apply what is known as ‘average’.
For example, if your sum insured only covers 50% of your rebuild cost, then your insurers are only liable for paying 50% of the amount that you claim. This applies to your contents and loss of rent as well as your buildings cover.
Vitae congue eu consequat ac felis placerat vestibulum lectus mauris ultrices. Cursus sit amet dictum sit amet justo donec enim diam porttitor lacus luctus accumsan tortor posuere.Buildings sum insured refers to the cost of rebuilding the property if it was completely destroyed including demolition, removal of debris, local authority and professional fees. If you are unsure of how to calculate the rebuilding cost you can find further information by visiting BCIS, however for a more accurate valuation we recommend that you seek professional advice from a qualified surveyor.
Building insurance will include any fitted or permanent fixtures like a bathroom suite or fitted kitchen. Landlord insurance will cover the physical property for the financial cost of repairing structural damage to the building in the event of perils such as fire, flood, storm, burst pipe, accidental damage or theft.
Buildings cover on a landlord insurance policy will protect you in the event of structural damage to the building caused by fire, flood and storm damage. Our Premier policy also includes theft, accidental damage or malicious damage by tenants and their guests at no extra cost, giving you piece of mind that you’re covered for damage, be it by theft, accident or malice.
There is no legal requirement for a landlord to have building insurance for their rental property, but it will often be a requirement of your mortgage lender. A standard home insurance policy isn’t designed for rental properties – you need specialist landlord insurance that will provide you with adequate cover in the event that your property is vandalised or damaged by a flood.
A home buildings insurance policy is not going to provide landlord’s with effective cover or consider the potential risks that you face with a rental property such as cover for your liability as a landlord. Usually, you need to take out a dedicated landlord insurance policy which would include buildings insurance and property owners’ liability insurance.
The difference between building and contents insurance is that building insurance will cover the physical property for the financial cost of repairing structural damage including the floors, walls and roof, whereas contents insurance covers the landlord’s contents such as furniture, freestanding appliances or garden equipment.
Building insurance will cover the physical property for the financial cost of repairing structural damage to the building in the event of perils such as fire, flood, storm, burst pipe, accidental damage or theft. Most landlord insurance will include the floors, walls and roof as well as any fitted or permanent fixtures such as a bathroom suite.
Building insurance can cover the cost to rebuild or repair the structure of a landlord’s rental property if it’s damaged or destroyed. Policies tend to cover structural damage such as the roof or walls, caused by something like a fire, flood or storm.
extra cover?
Your freeholder’s policy will normally cover the buildings and communal areas and will also cover their liability to you as the leaseholder but this would not protect you should your tenant or their guests sustain an injury whilst at your property. We would recommend that you purchase leaseholders liability cover as this would protect you should your tenant or their guests try to make a claim for injury.
You should also consider arranging cover for any fixtures and fittings not covered by the freeholder’s policy and contents you have left at the premises for the benefit of the tenant.
A loss adjuster is an independent claims specialist appointed on behalf of an insurance company, to ensure a fair and just settlement of a claim, including complex or contentious claims. They are responsible for establishing the cause of the incident and the value of the loss to determine whether it is covered by your insurance policy.
As a landlord, it is your responsibility to calculate and declare the value of your rental property to ensure that it is insured to its full rebuild value. If you have purchased the property with a mortgage, your lender will usually have a surveyor carry out a valuation, and this should indicate a rebuild value. If you do not have a mortgage valuation you can seek guidance from the Royal Institution of Chartered Surveyors by visiting BCIS, however for a more accurate valuation we recommend that you seek professional advice from a qualified surveyor.
Yes, you can choose to take out just landlord’s contents insurance. Contents insurance covers items inside the property. You will need landlord’s contents insurance if you rent furnished or part furnished properties and provide tenants with furniture, appliances or garden equipment.
Yes, we can cover landlord’s contents insurance only. Contents insurance covers items inside the property. Landlords will need contents insurance if they rent furnished or part furnished properties and provide tenants with furniture, appliances or garden equipment.
The difference between building and contents insurance is that building insurance will cover the physical property for the financial cost of repairing structural damage including the floors, walls and roof, whereas contents insurance covers the landlord’s contents such as furniture, freestanding appliances or garden equipment.
Contents insurance covers the landlord’s contents against perils such as fire, storm, burst pipes, flood, theft and malicious damage. This type of cover is not essential but can be invaluable should there be any accidental damage to glass and sanitary fittings, which can otherwise be costly to replace.
Landlord contents insurance is designed to cover items within the property such as furniture, appliances or garden equipment. Landlords will need to consider contents insurance if they rent furnished or part furnished properties. Contents insurance covers the landlord’s contents against perils such as fire, theft, storm, burst pipes, flood and malicious damage.
Contents insurance covers items inside the property. Landlords will need contents insurance if they rent furnished or part furnished properties and provide tenants with furniture, appliances or garden equipment. Contents insurance covers the landlord’s contents against perils such as fire, storm, burst pipes, flood, theft and malicious damage. Your tenant is responsible for the cover of their own possessions, to be on the safe side this should be clarified with the tenant.
Yes, you need to notify HMRC when you start to receive letting income. If you make money from letting a property, you may have to complete a self assessment tax return (depending on your total income) so that you can pay the required tax on your letting income. For more information visit the HMRC website.
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A landlord should carry out property inspections within a month of the tenant moving in and then every six months. As part of this inspection, landlords should check the roof of their rental property to ensure that it is in good working order with no loose tiles or damp dripping through.
Landlords have certain responsibilities and maintaining the boiler with regular gas safety checks is one such legal requirement under the Landlord and Tenant Act (1985). You are obliged to service the boiler in your rental property on an annual basis.
Landlords should make an inventory management report before letting their property to help ensure that a rented property is left in the same condition as it was originally let and avoid deposit disputes occurring at the end of the tenancy. The inventory management report should be a very detailed document which contains a full list of the contents and fixtures in a property, including the condition of every item with photographic evidence.
Employer’s liability insurance protects you against the cost of compensation claims arising from employee illness or injury, sustained as a result of their work for you. In order to add this cover to your Premier landlord insurance policy you will need to provide an Employer Reference Number (ERN), on tax forms it is often referred to as an employer PAYE reference.
Yes, your landlord insurance policy does include property owner’s liability insurance cover if you hold a Hamilton Fraser Total Landlord Insurance policy. Landlord liability insurance, also known as public liability insurance, can protect you in the event that your property causes injury or damage to a tenant or their visitor.
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Yes, you do need to notify your mortgage lender when you let your property. Failure to do so will infringe upon the legal conditions of your mortgage. To let your property, a ‘consent for lease’ is required from your mortgage lender.
Yes, but it is recommended that you undertake a comprehensive tenant reference check with an established referencing provider such as Tenant Verify that would include a credit check. A full tenant reference check will usually include ‘right to rent’ verification checks, credit history, address and historical address verification, validation of identity and credit history.
Our landlord insurance policies provide full cover between tenancies for up to 90 days. As a landlord, you would need to notify us if your rental property is vacant or there is a break between tenancy agreements. In situations where the property is left vacant for more than 30 days you are obliged to take certain precautions detailed in the policy wording, such as weekly internal and external inspections of the property.
A dedicated landlord insurance policy will cover your liability as a landlord, as you are legally liable for the welfare of your tenant. Landlord insurance will cover you in the event that your tenant or their guest tries to make a claim for injury on your property.
The tenancy agreement should specify how much notice is required to end the tenancy before the tenant moves out. Before the tenant vacates the property, inspect the property by walking through the property with the tenant and the inventory checklist, noting any damage or cleanliness issues and taking photographic evidence. This helps to ensure that the rented property is left in the same condition in which it was originally let.
A tenancy agreement is a contract between you and your tenant. It is recommended that you have a written tenancy agreement in place as it sets out the legal terms and conditions of the tenancy such as your right to receive rent for letting the property. We are only able to provide you with landlord insurance if you have an Assured, Assured Shorthold or Regulated Tenancy Agreement (England and Wales) or Short Assured or Assured Shorthold Tenancy Agreement (Scotland) in place.
