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Residential Landlord Insurance
Landlord Insurance
Renting out a property can create a steady income for you, but did you know that your standard home insurance policy isn’t suitable for a buy to let/second property? Before you start to rent out your premises whether that’s a block of flats or a house, you need to make sure you have the correct buy to let property insurance in place. Otherwise if something happens to your building that results in loss of rent or damage that needs repairing, you won’t be covered and you will have a huge financial dip as a result. Don’t take the risk and give East Yorkshire Insurance Brokers (EYIB) a call today and we can make sure that you’ve got the right residential landlord insurance in place.
Trusted by 250+
Local Businesses
Access To Over 300
Insurance Markets
Our Clients Rate
EYIB 4.9/5 Stars
Trusted By 250+ Local Businesses
Access To Over 300 Insurance Markets
Our Clients Rate EYIB 4.9/5 Stars
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Why Get Residential Property Insurance From EYIB
What Is It?
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Why Choose Us For Contruction Insurance
Why Choose EYIB For Insurance For Construction?
Access To A Huge Market
Our access to over 300 insurers across the various areas of insurance we advise on means that we can get you the cover that you need for the specific risks you face as a landlord of a residential property.
Businesses Love Us
You can be confident in us since over 250 businesses and landlords put their insurance in our hands – you can trust us.
We Have Years Of Experience
You need a broker who knows what they’re doing. We have over 15 years’ experience in arranging insurance for buy to let properties – choosing us means you’ll get the cover you need.
Years Experience
Local Businesses Insured
Insurers
Our Insurance Partners
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Residential Landlord Insurance Covers
What’s Included?
Building sums insurance
You need the correct building sums insured for your residential property insurance, otherwise you may be underinsured and not be fully covered if you need to rebuild your property should disaster strike. Getting a rebuild valuation before taking out a policy so that you know what business sums insurance you need will make sure that you avoid being punished by something called the average clause.
Loss of rent
Losing rent is anxiety inducing for any landlord. But having this cover will mean that if your property becomes inhabitable, you can secure your revenue and not lose profit. It’s important to know though, that this won’t cover you should a tenant default on their rent, only in cases of the property becoming unsafe to live in.
Loss of rent
Alternative accommodation
A fire has severely damaged your property and your tenant is no longer able to live there in these conditions. You’re still responsible for them; having alternative accommodation on your policy covers the cost of rehoming your tenant whilst your building is getting repaired.
Property owners’ liability
If your tenant becomes injured on your premises and suffers a serious injury; you could be liable. Property owners’ liability covers the cost if you’re sued by your tenant for any of the medical expenses or loss of income.
Property owners’ liability
Contents insurance
If you own a block of flats, contents insurance covers the costs of your possessions in the premises as well as the communal area. Contents like furniture and fixtures can be expensive to replace but easily fall victim to accidental damage or theft. That’s why having this cover is important to safeguard your finances.
Property damage
Damage to your property can be expensive. But with this cover you won’t have to suffer a big financial loss to repair your property if there’s an incident such as a fire or it’s been a victim of malicious damage.
Property damage
How Much Does It Cost?
How much your buy to let property insurance will cost depends on whether you own a house for renting out or whether your property is classed as an HMO. There are different risks depending on your premises, so if you want to know how much it will be, by calling us at EYIB we can go through all the covers you need so you know how much it will cost you.
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How Much Is Buy To Let Insurance?
How Much Does It Cost?
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Do I Need Residential Property Insurance?
Do I Need It?
Accidents can happen at any time and often are unpredictable. If someone sustains an injury on your property and you don’t have the correct buy to let landlord insurance in place, this could be devastating to your finances. Events such as fires or floods are hard to see coming. But if and when it does happen, the effect this could have on your income is catastrophic. Not only would this result in costly repairs and rebuild costs, but if your property is uninhabitable then you will no longer receive your income. Make sure you have buy to let property insurance by getting in touch with us so you can secure your revenue.
An example Of Residential Landlord Insurance In Action
James is a residential landlord and owns a Block of flats. His property is an investment; he has 12 tenants which means he is able to make a stable income from this property. One thing he didn’t predict though was a pipe to burst on one winter evening, which caused severe flooding in the building. The water damage destroyed the ceiling, walls and flooring which made his premises uninhabitable. This resulted in all his tenants having to move out whilst the property was undergoing repairs – which would be costly on its own but also meant he wouldn’t be receiving any rent during this time.
Luckily James was prepared and took out Block of flats insurance for his property before this incident. This meant that he didn’t have to pay out to repair his building and he also was able to receive compensation for loss of rental income whilst his tenants were waiting for the repairs to be completed. If he didn’t have this Block of flats insurance policy in place; his finances would have taken a huge hit and he would have had to sell his property as he wouldn’t have been able to recover. Take it from James’ example and get Block of flats insurance today, as this could be what saves your income!
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Potential Claims Residential Landlord Insurance Will Protect You From
Landlord Claim Examples
A tenant trips on a loose floorboard (they’ve claimed has been an issue for weeks) and breaks their leg. Property owners’ liability covers the cost of the medical bills and legal expenses, so you’re not left with a huge dip in your finances if an accident occurs.
Your Block of flats becomes uninhabitable after a fire has burned down most of the building. Block of flats insurance covers loss of rent, ensuring your cash flow is protected during these unforeseen events.
What Our Clients Think
John was amazing—friendly, patient, and full of great advice. He really took the time to understand our charity and made sure we got exactly the right insurance. Highly recommend East Yorkshire Insurance Brokers
Billy Dasein
East Marsh United
Sarah provided excellent service, taking the time to review our sums insured and ensure everything was accurate. She pointed out gaps in our cover we weren’t aware of and explained everything clearly. We feel much more confident now. Highly recommend East Yorkshire Insurance Brokers!
Connor Hewson
Assured Marketing
East Yorkshire Insurance Brokers have looked after our insurance for several years, and we’re always impressed by the great service they provide. They’re professional, reliable, and always find us a competitive deal. Couldn’t ask for better!
Jason Kay
H2MO Limited
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Meet Your Residential Landlord Insurance Broker
Your Dedicated Insurance Broker
Meet Sarah, your dedicated broker who has experience in securing the correct buy to let insurance for clients. With Sarah’s knowledge of the industry you can be sure you have the appropriate cover that you need, so if an unforeseen event takes place, your finances won’t suffer. Nobody thinks that something bad will ever happen to them, but if it does and you’re not prepared, you’ll wish you had taken out a buy to let landlord insurance with us. Don’t leave it too late, contact us at EYIB and get peace of mind today!
What is the average clause in landlord insurance?
The average clause means that if you’re under insured then the insurer will pay less on your claim. To avoid this make sure that you get a rebuild valuation for your property so you can get the correct building sums insured.
What is the average clause in landlord insurance?
Does buy to let landlord insurance cover tenants not paying?
Loss of rent cover that’s in your insurance policy covers loss of rent due to an incident meaning the property is not lettable. It will not cover instances where tenants’ default on their rent. You will need Rent Guarantee Insurance for this.