Landlord insurance is similar to home insurance, but it’s specifically designed to cover rental properties. If the property is not your main/principal residence and you let it out to tenants, you need landlord insurance or sometimes called “buy-to-let” insurance.

The three main types of landlord insurance are buildings, contents and liability insurance.

Beyond these, there are various add-ons you may find useful, depending on the type of property you’re letting. You’ll usually take out insurance on a property-by-property basis, although portfolio policies are available to landlords who own four or more rented homes and want to insure them all at the same time.

Please do speak to PHP Insurance if you’d like to consolidate your properties onto a portfolio insurance policy which makes your insurance much easier to manager and underwriters often offer discounts for additional properties.

Whilst Landlord Insurance has the same principles as insuring your home (buildings and contents), you must have landlord (or sometimes called buy to let insurance) if the property is not your main residence and you rent it to other people.

It takes into consideration risks associated with having a rental property, including protecting your rental income when your property is empty during a rental void or if the tenants are not paying the rent.

You can add rent guarantee insurance and home emergency cover for a moderate extra cost onto your standard Landlord insurance policy.