While many landlords feel a tenant’s deposit provides them with much-needed security in case any issues arise that go beyond fair wear and tear, you should remember that there are a huge number of faults and damages that can strike a property during the course of a tenancy and beyond.

Not all of them can be covered by a deposit and in some cases the deposit is simply not enough to fund repairs, so the best way to ensure you will not be left out of pocket is to have a comprehensive insurance policy in place that protects you against many eventualities.

The good news is there are many fantastic policies available to landlords right now. Leaders works with carefully selected specialist insurance providers to offer you a wide range of landlord insurance products designed to:

• Cover various tenant types

• Insure standard and non-standard properties, such as those that are Grade II listed

• Protect you against loss of rent

• Provide property owners’ liability

• Cover unoccupied properties in void periods

It is important to remember that landlord insurance policies are not all drawn up equally. While one policy may protect you against one threat, it could be insufficient in the case of another due to differing terms and conditions. And if you are not aware of the shortcomings until it comes to making a claim, you could pay the price.

Therefore we always advise landlords to speak to an expert and to have a policy written that is tailored to meet your precise needs. It is also worth investing in a policy that covers you both when your property is occupied and when it is not. Not too sure about the insurance types? Check out our guide on Landlord Insurance and the different types available.

Insurers have previously refused to pay out when problems have, for example, arisen as a result of a tenant failing to turn water mains off before going on holiday, leading to a leak and significant water damage. This can leave you having to fund not only the repairs, but also loss of rent while the property is under repair. However, for scenarios such as this, landlords with a bespoke, comprehensive policy would be able to claim for both.

Specialist landlord insurance can offer you peace of mind, and with a wider and more varied range of threats facing you in the modern rental market it is certainly worth investing in.

Could you currently be paying for a premium that does not even offer you the correct cover? It’s worth thinking about. And if you have any doubts or you would like to draw up a new policy you can get an online quote here.



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