Landlord Insurance for Tenant Damage

Whether you are a commercial or residential landlord, you likely want insurance to cover any damage your tenants could cause to your property or its contents.

A standard home insurance policy will not cover you. However, there are a variety of landlord insurance options available.

You can use the comparison tables to view a range of choices where you will be able to get quotes on landlord insurance policies to help you decide which plan might be best for you.

Landlord insurance for tenant damage

Although a landlord can be covered for tenant damage, landlord insurance does not cover loss or damage to a tenant’s contents or belongings.

As a landlord, you are responsible for the structure of the building, the fixtures and fitting. If you have offered to rent the flat furnished or partly furnished, you may wish to cover your own possessions on the property.

When comparing landlord insurance for tenant damage policies, you may want to consider a policy whose cover includes:

Buildings cover

Buildings cover will protect your property’s physical structure, such as the walls and roof. It may also provide coverage for external structures that are part of the property, such as an unattached garage.

Contents insurance

If you let property as fully or partially furnished, you may wish to find a policy protecting your contents from tenant damage. Contents insurance will generally cover furniture, furnishings and white goods against damage.

When looking at different contents policies, you may choose between indemnity or ‘new for old’ policies. If you opt for indemnity cover and make a claim, the insurer will factor in any depreciation of value the item might have undergone since the time you purchased it and pay you an amount of money based on this. a new for old policy will provide you with a brand new version of the same item, as a result, new for old cover may be more expensive.

Before you take out a landlord insurance policy

When looking for landlord insurance for tenant damage, you should shop around thoroughly and check exactly what each policy covers and if you need to purchase any optional extras.

For instance, you may find that policies from some insurers do not include cover for malicious damage by tenants as standard. By thoroughly comparing the market, you may find the plan that most comprehensively suits your needs.