Do I Need Landlord Insurance For A Flat?


Do I Need Landlord Insurance For A Flat?


The rental sector is a huge part of the UK economy and one that is growing each year. Out of 23.5 million UK households, it is thought that around one-third of these are either private or social rentals. The rise of the private rental sector has also seen a rise in the number of private landlords. While many will buy houses to let out, a lot of people now will buy a flat to rent out. One question many ask though is whether you need specialist landlord insurance for student lets or renting your flat out to other people.

What Is Specialist Landlord Insurance?

This type of insurance is specifically designed to give the sort of cover landlords need. It is different from normal household insurance for your own home. Do not think that having household insurance provides landlord cover as it does not. It is best to speak with a reputable company who offers this kind of tailored policy, so it includes everything you need.

Do I Need Landlord Insurance For A Flat?

This is the burning question for many when renting their flat out. The simple answer is that you do need this cover for renting out your flat. It is vital to have it in place, just as you would need it for letting a house out.

Why Is It Important To Have This Cover For Landlords?

In the most basic sense, it is designed to protect landlords from the inherent risks which come when renting out a flat. It will include clauses and protection that standard household insurance does not. These extra clauses are often what saves landlords from huge expenses when things go wrong. A normal landlord insurance policy would contain cover for the building’s structure and key items like boilers, bathrooms and kitchens. If anything were to go wrong, having this sort of policy in place could save you a lot of money.

Key For Cover Against Tenant Claims

Insurance for letting rooms also comes in handy if any tenant has an accident in the property which injures them. Without this type of policy, you may be held liable as the landlord and face huge costs. This can be a particular concern in terms of landlord insurance for students lets. With there often being a number of excitable young people in the property, accidents could well happen!

Contact Crowthorne Insurance For Specialist Landlord Cover

As the above shows, you do need to take out specific protection when letting out a flat. For advice on landlord insurance for student lets or general rentals in the private sector, call Crowthorne Insurance today on 01344 771626.

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