A Landlord's insurance policy is not a legal requirement, although not owning one would be very foolish! Any business faces risks on a daily basis and owning a second house as an investment is no different. A fire or robbery may destroy your nest egg and the hard work you have put into it. With let properties becoming an increasingly popular method of savings for the future, it makes sense to protect it! Insurers have recognised the need for Landlord's insurance and as a result have developed a policy to cater specifically for them.

A Landlord's insurance policy consists of a number of insurance products bundled together which will not only save you a great deal of time and effort, it should also cost less! If you plan to be, or are a residential Landlord you would insure the building and any of your own content left in the property. An example of what would be covered may include (but would not be limited to) the building: any fitted interior units, and other possessions. A Landlord's insurance policy would also provide cover against fire, theft, vandalism/malicious damage, leakages, smoke damage, subsidence, burst pipes, impact from vehicles, falling trees, animals, aircraft, aerials and masts. You may also want to consider a policy, which includes items such as business interruption and liability.

The tenants would only take out an insurance policy to cover their own contents and possessions.

Commercial Landlords are slightly different in that the Landlord is responsible for insuring the building and claiming premium payments from the tenants as business tenants will normally be charged (and expected to pay) for the building insurance. In addition a commercial Landlord would also need liability insurance, legal cover, debt management and other bespoke insurance policies.

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