There are some events like a gas leak or burst pipe that need rapid attention, landlord emergency cover can help you get an approved tradesperson to your property 365 days of the year 24 hours of the day to make your property safe and secure. Many insurance companies are beginning to include emergency cover for landlords as part of their landlord insurance policies, but it is always important to read the small print to make sure you do not accidentally come out under-insured.
Examples of the type of event that might be covered by landlord emergency cover are:
- The boiler exploding
- The ceiling caving in
- Problems with electrical systems
- Break-ins that render the property unsecure
A landlord who does not have emergency cover could be looking at paying a substantial cost for damages and repairs. If you have taken out an emergency cover policy however, you will be shielded from having to pay the full cost, and many companies will also cover you from rent payments that are missed because of the emergency.
Most landlord insurance providers will give you access to a 24 hour emergency helpline, and in many cases the tenant can call up themselves and you will not have involved right away. Rent guarantee insurance and legal expenses, which will pay the cost of you being taken to court by a tenant, are not always included in these policies, so you should take the time to scrutinise a number of different landlord insurance quotes and any additional extra emergency cover that is available.
You can use the above comparison table to look at a selection of different landlord insurance offerings, and click the links to get quotes.
In addition to landlord emergency cover there are a range of other features and optional features you may want to consider when looking for a landlord insurance policy including:
Landlords Building Insurance
The barest level of landlord’s insurance is buildings insurance which just covers the structural cost of the property as well as the rebuilding costs if the property was destroyed by an insured event. Many lenders require landlords who have a buy to let mortgage with them to have at least this level of landlord insurance.
Landlord Content insurance
For property let as furnished this will cover the costs of any damage caused to the furniture, appliances and furnishings provided by the landlord.
Landlord Liability Insurance
This kind of insurance can help with compensation costs for reasons such as personal injury claims from tenants.
Loss of Rent cover
If an insured event means that a property cannot be let out for a period of time this type of cover may be able to protect the landlord from the incurred loss of rental income.