This is the home insurance you need if you're a landlord

Home insurance cover is always a good idea if you are renting out a property – and these are the main insurance types to consider

Harvey Jones Linear kitchen in a kitchen extension
(Image credit: Harvey Jones)

What kind of home insurance does a landlord need? While landlords are not legally required to have home insurance, many lenders will need you take out home insurance as a condition of a buy-to-let mortgage. It's also important to know that standard home insurance will not cover you if you are renting out a property, so you will need to take out specialist landlords' home insurance. 

So, what type of cover will you need? As a bear minimum, you'll need buildings insurance, which covers the property's structural elements such as walls and windows. You'll most likely be required to take out this type of home insurance by your lender anyway. Buildings insurance is invaluable in covering you against a flood or fire at the property.

While this will probably be the extent of home insurance cover your lender will ask you to take out, you should seriously consider taking out contents insurance and liability insurance if you're a landlord. 

This is especially important if you are: 1) renting out to students, and 2) renting out a furnished apartment. Taking out an accidental damage cover is even better, since almost all mishaps that happen in rented properties happen by accident. Properties rented out to students are particularly accident prone (we hardly need to explain why), and injuries are not uncommon (this is where liability insurance comes in).

Finally, it's a good idea to cover yourself against any periods when the property is empty, with a special clause in your landlords' insurance that covers loss of rent. If the property you're renting out is large, with an expensive mortgage, this is a particularly important step to take to protect yourself against having to cover the mortgage yourself – or worse, not being able to, and having the property repossessed.  

Looking for a buy-to-let mortgage? Read our guide to comparing mortgages to help you find the best one.