Landlord Insurance FAQs

How much does it cost to become a landlord in Wales?

To apply to be a landlord in Wales, you have to pay a £45 fee for a new landlord licence online and £36 to renew it. You can also do it by paper and pay £84 or £64.20 to renew.

Is it essential to have landlord insurance in Wales?

It is not a legal requirement to have landlord insurance in Wales, however, your mortgage lender will usually require you to have landlord insurance. Plus it can give you peace of mind, knowing your investment is protected.

How much is landlord insurance in Wales?

The cost of landlord insurance depends on various factors. From the level of coverage you opt for to the age and location of your property and your tenant type. These factors will be taken into consideration when providing you with a quote.

What happens if my property in Wales becomes vacant mid-term?

If your property becomes vacant mid-term, whether your landlord's insurance policy is affected or not will depend on several different factors. Contact our customer service department when you know your tenants are moving out and let us know what your intentions are for the property, we will then advise you on how this affects your insurance.

What makes the best landlord insurance for landlords in Wales?

The best landlord insurance in Wales should include the option of buildings only, buildings and contents, fixtures and fittings with or without contents or contents-only insurance. This will include loss or rent cover and property owner liability, together with cover for all standard perils. You should also be able to add legal costs for eviction to the policy for an extra premium. Some landlord policies will only cover fundamentals and will charge more for loss of rent cover, property owner liability and some standard perils. Here at CIA, all our policies offer higher levels of coverage available with no additional charges.

What is the minimum EPC rating required for a rental property in Scotland?

For all rental properties in Scotland, the minimum EPC rating required is E. If your property falls below this, you could face fines or penalties.

Do you need landlord insurance in Scotland?

It is recommended that landlords invest in landlord insurance in Scotland to protect both their property and their tenants.

Do all landlords need to be registered in Scotland?

Yes, it is a legal requirement for all private landlords to register with the council when renting out their property.

What happens if my property in Scotland becomes vacant mid-term?

If your property becomes vacant mid-term, whether your landlord's insurance policy is affected or not will depend on several different factors. Contact our customer service department when you know your tenants are moving out and let us know what your intentions are for the property, we will then advise you on how this affects your insurance.

What makes the best landlord insurance for landlords in Scotland?

The best landlord insurance in Scotland should include the option of buildings only, buildings and contents, fixtures and fittings with or without contents or contents-only insurance. This will include loss or rent cover and property owner liability, together with cover for all standard perils. You should also be able to add legal costs to the policy for an extra premium. Some landlord policies will only cover fundamentals and will charge more for loss of rent cover, property owner liability and some standard perils. Here at CIA, all our policies offer higher levels of coverage available with no additional charges.

What are the specific risks faced by landlords in England?

Some of the biggest risks faced by landlords in England are disruptive tenants, loss of rent and property damage. That is why CIA Landlords provides comprehensive and affordable landlord insurance to protect landlords from unexpected events. Invest in landlord insurance in England and let your property free from worry.

Do I need landlord insurance for a student-let property in England?

While it is not a legal requirement, we highly recommend investing in landlord insurance for student-let properties in England. It is important to ensure you are protected against any claims and unique circumstances that come with letting student property. We provide specialist student landlord insurance in England to give you peace of mind.

What makes the best landlord insurance for landlords in England?

The best landlord insurance in England should include the option of buildings only, buildings and contents, fixtures and fittings with or without contents or contents-only insurance. This will include loss or rent cover and property owner liability, together with cover for all standard perils. You should also be able to add legal costs for eviction to the policy for an extra premium. Some landlord policies will only cover fundamentals and will charge more for loss of rent cover, property owner liability and some standard perils. Here at CIA, all our policies offer higher levels of coverage available with no additional charges.

How long is a quote valid for?

30 days.

How much does landlord insurance cost per month?

As of 2023, the average cost of landlord insurance per year is £170, which equates to roughly £14 per month. This will depend on various things, however, and you would need to consider aspects such as the year the property was built, the rebuild cost, the size of the property, and where the property is located.

How much does landlord contents insurance typically cost?

The price of landlord contents insurance will change based on the total value of the contents being insured, the location of the property, and so on. It is best practice for you to compare different prices and coverage options for landlord contents insurance from several insurers to help you make an informed choice.

Does landlord contents insurance cover tenants’ personal belongings?

No, landlord contents insurance does not cover your tenants’ personal belongings, but it does cover you for any fridges, beds, sofas and so on that you may have provided for tenants.

What makes the best landlord insurance?

The best landlord insurance should include the option of buildings only, buildings and contents, fixtures and fittings with or without contents or contents only insurance. This will include loss or rent cover and property owners liability, together with cover for all standard perils. You should also be able to add legal costs to the policy for an extra premium. Some landlord policies will only offer very basic cover and will charge more for loss of rent cover, property owners liability and some standard perils. Here at CIA, all our policies offer the higher levels cover available with no additional charges.

Do you offer a multi property discount?

If you already have landlord insurance with us, then we will give you a multi-property discount. To take advantage of the discount, we will need to complete the quote over the phone with you, so, call us on 01788 818 670.

What if my tenant works but also receives benefits?

We will just need to ask you a couple more questions in order for us to know how to class your tenant. Our insurers each have their own guidelines so this landlord insurance quote would be completed on the phone. To discuss the details, call us on 01788 818 670.

Does the type of tenant I have in my property affect my policy?

Yes, all policies and landlord insurance quotes are based on a variety of different factors, one of those being the tenant type. If the current tenant’s situation changes and they become a different tenant type, you will need to make us aware.

What does the term 'tenant type' mean?

Tenant type refers to the tenant's current situation. For example, if they are in full-time work they would be classed as professionals. If they pay the majority of the rent with benefits they would be classed as DSS tenants. Other tenant types include students, asylum seekers, housing association tenants and retired tenants.

What does the legal policy cover?

Landlord's legal protection is an insurance policy to protect you as the landlord of your property, in case your tenants are in breach of their contract and you need to take them to court. The insurance policy will cover the legal costs incurred.

Can cover be increased after the unoccupancy clause?

No, unfortunately we are unable to increase cover at the end of an unoccupancy clause. If the property remains vacant, cover is reduced and then increased when the property is re-tenanted.

Does the policy cover me if my tenants are injured due to the property?

Our landlord insurance policies, where buildings are insured, include Property Owners Liability and where contents are insured include Contents Liability, so if the tenant is injured or contracts a disease due to the insured property and/or contents you would be covered. Employers Liability covers you for any damage caused to the property or to an individual by someone who is employed by you to work at the rental property under a PAYE agreement. The type of employee may be a cleaner or a gardener etc.

What does liability insurance mean?

The liability cover on your policy will insure you for any amounts you become legally liable to pay as damages and claimants costs for bodily injury, including death and disease and damage to property caused by an accident at the premises.

What insurance would I need if I am a leaseholder?

Your lease agreement might dictate that you are responsible for insuring the buildings, in which case we can provide you with a landlord insurance quote. Alternatively, you will at least want to insure your landlord contents, fixtures and fittings. Although we can't currently quote online for this we have a number of insurers that offer policies to meet your needs so click "get a call back" or call us on 01788 818670 for a quote.

Can I buy landlord building insurance if I live in the property myself?

Some insurers will allow you to have a landlord’s building insurance policy if you’re initially living there, on the basis that you will move out and your tenant will move in within 8 weeks. If you intend on staying in the property with tenants there too, you will need a household building insurance policy rather than a landlord building insurance policy.

When will I get my landlord home insurance documents?

Documentation is usually emailed to you within 48 hours but we are happy to post out hard copies upon request. All of our policy booklets are available online and a link will be provided in your welcome pack.

What type of landlord insurance do I need?

There are a few different landlord insurance options. Which one you choose will depend on the specific risks you feel that it’s most important to cover against. The most common product and the one that we sell here at CIA Insurance is buildings and/or contents insurance. It’s also the most complex and extensive.

What is covered by my landlord insurance?

Your landlord policy can be as basic or as extensive as you need it to be. Our landlord insurance can include buildings only, contents only or a combined policy if required. Buildings insurance covers the cost of repairing or rebuilding your property if it becomes damaged by fire, flooding or vandalism, and contents insurance covers household items left for the tenants use such as furniture and appliances in situations such as theft, fire and flood. This cover does not protect your tenant’s belongings or items you may have left in storage at the property that is not for the tenants use.

What if I want to rent out more than one property?

If you have an existing landlord insurance policy, you will be able to take out multiple-property landlord insurance with us. Please note that in these instances, the policy commencement dates will differ between properties. This won’t affect your multi-property discount. We are able to cover all types of properties, including blocks of flats let out on either a residential or commercial basis. However please note that residential properties and commercial properties will be on separate policies. Multi-property landlord insurance is designed to save landlords time and money. Having one policy that covers all properties means there’s that only one payment and one renewal a year for you to think about, and the multi-property discount means that sometimes it can be cheaper than taking out individual insurance policies for each property. This applies if you take your policies out together or if you advise us at the start of the policy that you will be adding properties mid-term.

Is a landlord insurance legally required?

There is no legal obligation for a landlord to take out landlord insurance, however, you might not get very far without it. You’ll usually need written permission from your lender before you take on tenants (unless you have a buy-to-let mortgage), and your lender is likely to require that you have landlord insurance before you do so. Even though you’ve probably got a conventional home insurance policy, this won’t be enough to cover you if your property becomes a rental. In fact, a lot of home insurance policies will become void if the property is being used as a rental, meaning that you won’t be able to make a claim.

How to get cheaper landlord insurance

When you’re looking for your perfect landlord insurance, you’re going to want to get the best price. No landlord wants to be paying over the odds for their insurance – especially when you hope you’ll never have to actually claim on it. If you have multiple properties, then make sure you insure them all with one provider. You’ll probably be eligible for a discount. Plus, it makes everything much more streamlined and simple with a lot less paperwork.

Do I have to have landlord insurance?

No, you don’t need to take out landlord insurance, however, a lot of mortgage lenders may insist you have it before you begin renting to tenants. Just because it’s not mandatory, it doesn’t mean that you shouldn’t take it out. Landlord insurance is really important for any landlord. It will help to safeguard your financial future and protect your investment from damage, problematic tenants and other unexpected costs. It gives you the peace of mind that situations out of your control will be covered under your policy.

What happens if my property becomes vacant mid-term?

If your property becomes vacant mid-term, whether your landlord insurance policy is affected or not will depend on a number of different factors. Contact our customer service department when you know your tenants are moving out and let us know what your intentions are for the property, we will then advise you on how this affects your insurance.

Do I need a tenancy agreement?

Most of our insurers ask for a direct tenancy agreement to be in place for a minimum of 6 months. As a general rule, you can expect to need to have a tenancy agreement in place before being permitted to take out any kind of landlord insurance. Nonetheless, it is advisable to consult the small print of your contract and ask questions of the insurer before purchasing.

Do I insure my property from exchange or completion?

Insurance is usually offered from exchange, but you should be guided by your solicitor on the exact date to start your policy. When you are purchasing a house – whether to live in yourself or as a buy-to-let investment – there is a potential grey area between the exchange of contracts and the completion of the sale. It is during this period that you will have signed a contract committing you to purchase the property, but the house will not technically be yours yet as you wait for other aspects of the sale process to be undertaken, such as the conveyancing.

What is Landlord Insurance?

Landlord insurance is a specialist product that covers landlords from damage costs and various different financial losses that come with the territory of being a landlord. Amongst all the positives, unfortunately, there’s a lot that can go wrong when you’re a landlord that can in turn, cost you a lot of money. With that in mind, your landlord insurance policy is really important for any landlord. Buildings insurance and contents insurance are usually the main types of cover that a landlord will need, however a lot of other landlord-specific covers can be added onto a policy, such as legal expenses insurance and alternative accommodation expenses.

What is an interested party?

An interested party is any other person or organisation with a financial interest in the property, such as a mortgage provider. An interested party – also known as an ‘additional interest’ – is a person or company other than the named insured on an insurance policy, which has an insurable interest in the person or property that the policy covers.

What does landlord insurance cover me for?

The standard perils landlord insurance covers you for are the same as standard home insurance. This includes things like fire, storm or floods, escape of water, subsidence etc. The difference is the policy will also include things like, loss of rent in the event that the property becomes uninhabitable due to an insured peril and liability cover in case of the tenants having an accident.

Can I cancel my policy?

You may cancel your policy at any point by sending us either emailed confirmation, confirmation by post or calling customer support on 01788 818 600.

Will my policy automatically renew?

None of our policies are automatically renewed, we will contact you 25 days prior to the renewal date with our renewal quotation with follow up notifications and ask you to contact us if your wish to proceed.

What is White Goods cover?

If your policy includes free white goods cover then any freestanding washing machines, fridge-freezers, cookers, tumble dryers & dishwashers that you have left for your tenant to use, will also be insured for all the perils that are listed under the buildings section of your policy.

What is Property owners Liability?

Property Owner Liability is standard on all of our policies, this will cover the Landlord as the legal owner of the property for any damages, claimant costs and expenses in the event of accidental death, bodily injury, illness, disease or accidental loss or damage to property.

What tenant types do you cover?

Our panel of Insurers will cover all tenants types upon request. Please ensure that your policy shows the correct tenant type as this invalid your policy.

What is Loss of Rent Cover?

This will cover you in the event of Loss of Rent and/or alternative accommodation should your property become uninhabitable due to an insured peril covered by the policy, eg Fire, Flood.

Do my documents show the amount I have actually paid for the policy?

When documentation is issued at inception and renewal we will provide a Statement of Price this will show the amount paid and a full breakdown of any other landlord insurance fees charged.

How do I calculate my rebuild cost?

Your rebuild cost, sometimes referred to as building sum insured or reinstatement value, can be most accurately found on a mortgage valuation. If you do not have one to refer to then you can try the Building Cost Information Service (BCIS) commissioned by the association of British Insurers. This free service can be found on https://calculator.bcis.co.uk/.

Categories

How much does it cost to become a landlord in Wales?

Is it essential to have landlord insurance in Wales?

How much is landlord insurance in Wales?

What happens if my property in Wales becomes vacant mid-term?

What makes the best landlord insurance for landlords in Wales?

What is the minimum EPC rating required for a rental property in Scotland?

Do you need landlord insurance in Scotland?

Do all landlords need to be registered in Scotland?

What happens if my property in Scotland becomes vacant mid-term?

What makes the best landlord insurance for landlords in Scotland?

What are the specific risks faced by landlords in England?

Do I need landlord insurance for a student-let property in England?

What makes the best landlord insurance for landlords in England?

How long is a quote valid for?

How much does landlord insurance cost per month?

How much does landlord contents insurance typically cost?

Does landlord contents insurance cover tenants’ personal belongings?

What makes the best landlord insurance?

Do you offer a multi property discount?

What if my tenant works but also receives benefits?

Does the type of tenant I have in my property affect my policy?

What does the term 'tenant type' mean?

What does the legal policy cover?

Can cover be increased after the unoccupancy clause?

Does the policy cover me if my tenants are injured due to the property?

What does liability insurance mean?

What insurance would I need if I am a leaseholder?

Can I buy landlord building insurance if I live in the property myself?

When will I get my landlord home insurance documents?

What type of landlord insurance do I need?

What is covered by my landlord insurance?

What if I want to rent out more than one property?

Is a landlord insurance legally required?

How to get cheaper landlord insurance

Do I have to have landlord insurance?

What happens if my property becomes vacant mid-term?

Do I need a tenancy agreement?

Do I insure my property from exchange or completion?

What is Landlord Insurance?

What is an interested party?

What does landlord insurance cover me for?

Can I cancel my policy?

Will my policy automatically renew?

What is White Goods cover?

What is Property owners Liability?

What tenant types do you cover?

What is Loss of Rent Cover?

Do my documents show the amount I have actually paid for the policy?

How do I calculate my rebuild cost?