LV= landlord insurance maybe suitable for landlords who:
- Own up to 4 buy to let properties
- Let their properties to tenants for 6 months or more
LV= landlord insurance features
- Buildings cover including damage by fire, flood, storm or accidental damage
- 24 hour legal helpline
- Loss of rent cover and alternative accommodation costs if there’s damage to your rental property
- Up to £2m property owner’s
- Up to £100k legal expenses cover
- 10% discount for existing LV= Car and Home insurance customers
Optional extra cover includes:
- Subsidence insurance in the event of damage to the property
- Insurance for acts of terrorism
- Employer's liability insurance
There is a great variety of different products on offer in the landlord insurance market with many different products having different features, it might then be a good idea to shop around before you take out a policy so you can try and find the best plan for your specific needs. Consider what features you would like your policy to have to find a level of cover you are happy with.
Types of landlord insurance cover include:
- Landlord Building Insurance - The most basic type of cover normally available, it will cover structural as well as rebuild costs of the property.
- Landlord Content Insurance - If a property is let as furnished then this will provide cover for; furniture, carpets and furnishing but not the tenant’s possessions.
- Landlord Liability Insurance - If one of your tenants decided to enter litigation with you, for instance with a personal injury claim, this coverage could assist you with legal costs.
- Loss of Rent Cover - If an accident happens which means you cannot let one of your properties for a period of time this insurance could cover the loss of rent you would suffer. It may also pay for the costs of finding your tenants alternative housing while the property is repaired.
- Landlord Emergency Cover - This will cover the cost of emergency repairs following incidents that need to be addressed as soon as possible like a burst pipe. This type of insurance can help you get a qualified tradesman to the property at any time any day of the year.