Do you need to have Landlord Insurance by law?
Landlord Insurance is a cost-effective way to protect you and your property against any damages, claims or legal costs that may occur when renting out your home. Sagar Insurances offers Property Owner’s Insurance to landlords across the UK, ensuring you are covered no matter what.
What Must a Landlord Provide by Law?
As someone who rents their house or flat out there are many legal requirements that you should follow, including providing tenants with Energy Performance Certificates and Gas Certificates as well as working locks and alarms. Having Landlord Insurance is not necessarily something you need by law, but the majority of mortgage companies insist you purchase a policy before you start the process of renting out your property.
Property Owner’s Insurance with Sagar Insurances
Even if Landlord Insurance is not required by law, it is good practice to have an insurance policy that offers a range of protection for you, the building and the tenant. It is also important to remember that standard Home Insurance will not cover you for rental activities, so choose a bespoke package for your property with Sagar Insurances. Created to cover landlords against a number of scenarios, consider our Property Owner’s Insurance
Should the building become uninhabitable, you won’t have to worry about loss of rent as we will pay out for rental fees and alternative accommodation for your tenants to stay in as your house is repaired. Property Owner’s Insurance will also cover content you have supplied your tenants with, as well as the cost of rebuilding permanent fixtures within the building should they fall into disrepair.
Luckily, most tenants are respectful and leave your house or flat clean and without damage. However, should your tenants cause any malicious damage to your property, or attempt to steal from it, Sagar Insurances have you covered with our additional extras. With Property Owner’s Liability Insurance as part of your policy, we can also protect you if a tenant makes a claim against you for injury or accident occurring on your property.
Arrange Private Landlord insurance
Your income is generated by renting out your house, so make sure that you and your earnings are fully covered. Sagar also recommends taking out a policy with Property Owner’s Insurance even if the property is currently unoccupied should flooding, fire or a storm impact the building.