First Time Landlord – What Is Landlord Insurance? Do I Need It? What Does It Cover?

Landlord insurance is a form of (packaged) property & liability cover for your property investment. Typically, Landlord insurance provides cover for all/most of the perils/risks that a home insurance policy does i.e. fire, escape of water, storm, flood, burst pipes, impact by vehicle, lightening, explosion, aircraft, accidental damage and more.

Landlord insurance will also generally extend to cover loss of rental income in the event of one of these perils. Furthermore, Landlord insurance will generally extend to provide Public Liability cover, which protects the Landlord from claims made against him/her by tenants, visitors or members of the public for injuries they have sustained in or on the premises or damage to their property.

It can also extend to provide cover for ‘domestic employees’ which are generally classed as repairs or maintenance persons casually engaged. A Landlord will need this type of cover to protect her/his investment property from such perils and indeed if the property is subject of a bank or finance loan, this type of cover will be required as a condition of the loan in most cases.

Find our more about our landlord insurance here.