Whether you own a single buy-to-let house that you let to tenants, a selection of holiday cottages, or you own a portfolio of commercial premises, there is one thing you have in common – you need landlord’s insurance.
Landlord insurance is not just for big business. Where individual properties to let are concerned, there is sometimes a misconception that standard household buildings and contents policies will be enough to provide protection. Unfortunately, this type of cover is not designed to protect you in the event of injury to a tenant in your property, or if other insured losses happen while you are letting out property. A standard household insurer could refuse to pay out a claim in these instances.
Why choose Bollington?
- Over 40 years’ experience in insuring both residential and commercial properties
- Award-winning service from the 2015 Insurance Times Commercial Lines Broker of the Year
- Competitive insurance quotes from a range of leading insurers
- Cover for a wide range of occupiers, including professionals, students, DSS and asylum seekers
- Offering a specific, tailor-made solution for landlords with single properties, residential properties, commercial properties or mixed portfolios of property
- Service from a UK-based team who understand what insurance you need – and what insurance you don’t need, too
What benefits does landlord insurance offer?
In addition to the standard buildings and contents cover that you can arrange with a household insurance property, Bollington’s landlord insurance offers:
- Property owners’ liability. £2m of cover is included as standard (with higher limits available). This policy will meet legal costs and damages awarded if a member of the public is injured while on property that you own (or property linked to yours).
- Cover for accidental or malicious damage to property by tenants. This could include damage caused by tenants using your property for the illegal growing of cannabis, for example.
- Subsidence cover included as standard.
- Removal of wasp or bee nests. Nests can lead to widespread property damage if not treated and removed. The removal of nests is included as standard in your landlord’s insurance policy.
- Employers’ liability insurance. Do you employ staff to manage, clean, or maintain your property? Then employers’ liability insurance is essential, and we can arrange this for you. The minimum level of cover available is £5m, but higher levels of indemnity can be arranged if appropriate.
Which properties can be covered by landlord insurance?
Bollington’s landlord insurance is designed to cover as many different types of property as possible, including:
- Residential and non-residential/commercial lettings(including mixed portfolios)
- Unoccupied property
- Properties under renovation
- Short-term property ownership (e.g. if the property is available for sale through an estate agent)
- Properties of non-standard construction (such as those with thatched roofing, listed status and mill/warehouse conversions)
- Holiday homes
- Blocks of flats
- Homes of multiple occupation (HMOs)
- Plots of land
Which tenants can be covered by landlord insurance from Bollington?
A standard landlord’s insurance policy does not necessarily cover certain tenants. Bollington’s landlord insurance can provide cover for a wide range of individual property occupiers, including:
- Professional/private lets
- Asylum seekers
How much does landlords insurance cost?
Landlord insurance can be surprisingly affordable, with prices starting from as little as £120 a year for a single buy-to-let property. It could prove to be money very well spent, considering the level of insurance cover available.
Additionally, we can also offer direct debit payments to spread the cost, subject to status.
When you factor in some of the specialist benefits that are available through Bollington – such as optional rent guarantee and legal expenses cover – landlord insurance offers real peace-of-mind protection, allowing you to focus on managing your property and sustaining your income.
What other insurance might I need?
With experience stretching over five decades, Bollington can offer a full suite of insurance policies to ensure you are protected against the various risks that you might face. Not only are Bollington expert landlord insurance brokers, we also offer advice for:
- Management agencies and residents associations – covering public liability exposures you may face while managing (as opposed to owning) property
- Directors and Officers – management liability policies including directors’ and officers’ insurance
- Loss of income cover – if your property is uninhabitable for a period of time (e.g. due to fire or flood), what would happen to your rental income? Insurance is available to assist you in covering lost income.