Landlord Buildings Insurance
Our landlord buildings insurance is suitable for UK residential property.
No matter the type of tenant, landlord buildings insurance is available on our website - and is very cheap. Insurance is also available for owner occupier and unoccupied property.
We can provide landlord insurance quotes to cover:
As a UK Landlord, you need to compare landlord building insurance quotes to cover the house (or portfolio of property) that you own. We are Brokers that specialise in this type of cover and have produced an online quotation system to help you find the cheapest policy commensurate with a good underwriter. You can compare quotes from most of our insurers online and, if you are dissatisfied with the results then a simple submission of the results can enable us to browse other policies where we have to contact underwriters directly.
For insurance there is more than just a cheap quote and we are sure that we can help you. No doubt you want a broker who can look after you if you have problems, who can assist you in the administration of your insurance policy and whose staff are experienced as well as being friendly and helpful. You need look no further. As a high-street broker, our staff speak with customers both by telephone and face to face and, being a relatively small, family run business, we place great store on valuing and looking after our clients.
We are, of course, for insurance, authorised and regulated by the Financial Conduct Authority (registration number is 300694, if you want to examine our credentials) as are all the insurers with whom we place business. All these companies are based in the UK: we do not deal with companies based abroad (which may help your confidence) only with UK insurance companies and Lloyds. Some of our providers of cover are known as 'Underwriting Agencies'. This means that they have arranged specialist policies and market them to retail brokers.
The cover provided under each insurance policy will vary from company to company. When you obtain a quote (sorted for cheapness) for your house there will be a link to the appropriate key facts document so you can ascertain and compare the benefits provided by the policy and, of course, if you have any problems or need clarification then we are only too willing to offer our services.
When asking for insurance you should be sure what benefits you need. A standard policy will cover just the buildings and for the normal perils, fire, lightning, explosion, storm and tempest, flood, escape of water. It will also cover your property owners liability. You can however ask for additional benefits - such as accidental damage to the buildings, include cover for contents cover, malicious damage by tenant, perhaps legal expenses, rent guarantee - we can even cover boiler breakdown if you want it as an extra benefit. A summary is below:
If you have more than one house to be insured then you will want a special form of landlords insurance known as portfolio insurance. Substantial discounts are available if you insure more than three homes on one policy as we can look at an overall claims experience rather than just apply a single rate for each individual building to be insured.
Guide to landlord buildings insurance
Without doubt the key factor for landlords buildings insurance is the amount for which the buildings should be insured. Do not, to get a cheap quote, reduce the sum insured. The building should be insured for the total cost of reinstatement as new. The sum insured should also include an amount for removal of debris as well as architects fees. Please note that the recommended sum should be ascertained from architects or building surveyors since it will differ markedly from the actual price paid for the building.
How much will buildings insurance cost in the UK? The price for landlord buildings insurance depends on several key rating factors: a) The sum insured (most policies, unlike residential house insurance, are still on a sum insured basis rather than on a bedroom basis), b) The Location (Obviously damage due to theft is of importance but if the property is located on a flood plain, in an area prone to subsidence or exposed to high winds, then the premium will be more expensive) and c) The type of tenant (property occupied by professional people have a lower moral hazard compared to those where the tenant is unemployed or put in by the Local Authority or Housing Association. You can compare all these factors on our quotation system.
There are other factors for buildings insurance such as the age and type of property, but these are minor. Generally a rate of about £1.00 per thousand would be regarded as competitive for professional tenants, but it could be three times that for property occupied by DSS referrals.
You may also be wanting landlords contents insurance to protect your goods in the home. You should note that this will not cover the tenant's contents. It just protects the furnishings you provide. Unless the property happens to be a flat e.g. the flat may be insured as part of the whole block under a block policy, we cannot cover contents on their own. Since we are brokers, we have access to specialist policies that provide a standard amount of cover under the policy whilst others allow you to include a suitable amount.
If you are in doubt, for insurance purposes, what are 'buildings' and what are 'contents' a useful rule of thumb is to assume that anything that you may wish to remove from the property should you leave would be 'contents' and that which would be left should be regarded as 'buildings'.
Other information on landlords contents insurance. Please note that there will be a maximum sum insured available on most policies and that, again unlike home insurance, valuables and expensive articles may be excluded. This is because most insurers expect that a landlord will only be providing basic (but sound) furnishings in the home.
Insurance of HMOs - Homes of multiple occupation
Although not needed for insurance, you may need to have a property licence. You may be aware that a property licence is required for landlords owning properties where more than two householders live together. You can read about the new property licence laws online. The legislation brought into effect by the government from April 6th 2006 meant that any landlord which lets a property which is considered a house in multiple occupation now needs to have a property licence under certain circumstances. A household is generally considered as members of the same family which live together or married couples. A house of multiple occupations is generally any property which houses three or more 'households' which share facilities such as the kitchen, toilet or bathroom.
A note about the excess on an insurance policy
The excess on an insurance is the amount to be paid in the event of a claim. The actual amount often depends on the type of tenant. A property let to a professional person, couple or family, will have a lower excess than one occupied by asylum seekers. When you compare your quotes online, information will be provided about the excess under each policy. This amount can be increased by taking a voluntary excess in addition to the compulsory excess to make the policy cheaper. A final note. There will be an excess for subsidence claims - this amount will usually be £1000 but higher amounts may apply in areas where the subsidence risk is higher.
Compare policies for landlords insurance
Our quotation system lets you compare landlords insurance to find the cheapest premiums. As mentioned above, a comparison should not only be about premium but also about claims service and policy cover. It is very easy to compare prices but as for the other features, that is difficult. As your broker, though, we can recommend a policy based on our experience with the company - some companies have superior cover and benefits but are more expensive, others may be cheap but have poor claims service. Of course we will always act in your best interests and help you should any problems arise.
Boiler breakdown Insurance
The good news is that we offer insurance for boiler breakdown for property owned by landlords. The bad news (for some) is that this policy is not available on a stand-alone basis - you will need to insure the home with us to qualify.
Insurance by county
We can offer insurance in the following counties: Avon,Bedfordshire, Berkshire, Borders, Buckinghamshire, Cambridgeshire, Central, Cheshire, Cleveland, Clwyd, Cornwall, County Antrim, County Armagh, County Down, County Fermanagh, County Londonderry, County Tyrone, Cumbria, Derbyshire, Devon, Dorset, Dumfries and Galloway, Durham, Dyfed, East Sussex, Essex, Fife, Gloucestershire, Grampian, Greater Manchester, Gwent, Gwynedd County, Hampshire, Herefordshire, Hertfordshire, Highlands and Islands, Humberside, Isle of Wight, Kent, Lancashire, Leicestershire, Lincolnshire, Lothian, Merseyside, Mid Glamorgan, Norfolk, North Yorkshire, Northamptonshire, Northumberland, Nottinghamshire, Oxfordshire, Powys, Rutland, Shropshire, Somerset, South Glamorgan, South Yorkshire, Staffordshire, Strathclyde, Suffolk, Surrey, Tayside, Tyne and Wear, Warwickshire, West Glamorgan, West Midlands, West Sussex, West Yorkshire, Wiltshire, Worcestershire
Insurance in the cities
Insurance is available in any of the UK cities. These are: London,Birmingham, Leeds,Glasgow, Sheffield, Bradford, Edinburgh, Liverpool, Manchester, Bristol, Wakefield, Cardiff, Coventry, Nottingham, Leicester, Sunderland, Belfast, Newcastle upon Tyne, Brighton, Hull, Plymouth, Stoke-on-Trent, Wolverhampton, Derby, Swansea, Southampton, Salford, Aberdeen, Westminster, Portsmouth, York, Peterborough, Dundee, Lancaster, Oxford, Newport, Preston, St Albans, Norwich, Chester, Cambridge, Salisbury, Exeter, Gloucester, Lisburn, Chichester, Winchester, Londonderry, Carlisle, Worcester, Bath, Durham, Lincoln, Hereford, Armagh, Inverness, Stirling, Canterbury, Lichfield, Newry, Ripon, Bangor, Truro, Ely, Wells, St Davids. Other towns, villages and hamlets can also be covered.
If you need any house insurance advice contact us on 01388 607140 and we can discuss the cover that your require, use the link above (or below) to obtain a premium indication.
TYPES OF TENANTS
Landlord Buildings Insurance covers your property and we can provide insurance for any of the types below:-
Insurance for landlord contents is available. Combined cover, or for contents on their own for flats where joint insurance is held. Typically done by a management company set up by the occupiers
Professional. Defined as property where the agreement is long term between the tenant and the property owner and the rent is paid in full by the tenant to the owner.
Insurance for households on subsidised let: A subsidised let is one where the agreement is between the landlord and tenant for at least 6 months but part of the rent is paid by a third party - Usually the DSS. This is different from
Insurance for DSS: This is one where the agreement is between the landlord and the DSS/ housing association and the DSS/ housing association decide the tenant.
Insurance for Asylum Seekers: Asylum seekers cannot take out tenancy of property so this agreement is between the DSS and the property owner.
Insurance for Students: This is one where the property is occupied by one or more students (usually more than one!) with shared facilities. Premiums can be high as by these properties are unoccupied during the vacation.
Unoccupied/ Vacant property insurance: (Contents cover may be available). Very cheap rates for unoccupied / vacant properties. Varying levels of cover. The premiums depend on why it is vacant. e.g. pending sale, waiting to move in, renovation, being refurbished before letting out.
Insurance for Semi Commercial property. For residential property that is above a shop - please contact us.
Non standard - e.g. property that has undergone subsidence.
Ring us on 01388 607140 if you need help about your landlord building insurance