Landlords Insurance
Prospect Mortgage Services provide independent, sound and honest advice for your mortgage and protection needs.
Whether you’re renting out your old flat or a whole string of high-end properties, traditional home insurance is not appropriate to protect your investment. Instead, you need specialist landlord’s insurance. As well as protecting your buildings and contents against loss and damage, it can safeguard you against problem tenants and other unforeseen costs associated with being a landlord.
Landlord’s cover is offered on a buildings and/or contents basis and covers you against loss or damage due to such things as theft, fire, explosions, storms, flooding or water leakage and other similar issues. It can also usually includes landlord’s liability , which covers the cost of any accidents or injuries resulting from your property.
Optional extras worth considering
Just like traditional home insurance, landlord’s cover comes with plenty of added extras that you might want to think about. If you’re looking for added reassurance, here are a couple of options which you might feel are important:
Accidental and Malicious damage
Tenants don’t always pay the same care and attention to your property as you would yourself. But if you’re worried about slips, spills and breakages, accidental damage cover is the perfect solution. As with traditional home insurance, it covers everything from a nail through a pipe or a foot through a floorboard, to red wine on your carpet. It can also include protection against intentional damage to your property by a tenant.
Legal Expenses with or without Rent Guarantee
With additional protections recently coming into effect with the Renter’s Rights Act, Legal Expenses will help you recover the cost of any legal costs should you need to evict a tenant.
Rent Guarantee can help you recoup the rent due from a tenant not paying, whilst you go through the eviction process. Terms and conditions can vary as to when a policy pays out and for how long, so check the Key Facts Document for details.