Do I need specialist landlord insurance?

Landlords need specialist landlord insurance. Why? Because household policies do not cover buildings, contents or the landlord for third party liabilities while their property is let out.

It’s not illegal not to have landlord insurance, although some buy-to-let mortgage lenders will insist that it is in place as a condition of the mortgage. If a landlord is prepared to accept the risk that their investment property: burns down, the tenant sues as a result of an accident at the property, or replace the roof because of storm damage, etc If a landlord is happy to take on these potential risks then landlord insurance isn’t required ( oh yes , don’t forget flooding!)

Personally, I’m not sure I could sleep at night without being fully covered with a landlord insurance policy. To my mind for landlords to take that kind of risk for the sake of a couple of hundred pounds a year is just not worth it.

Calculate rebuild costs by registering at the Association of British Insurers (ABI) website