1. Home
  2. Landlord Insurance

Landlord Insurance

building-insurance-landlords-association-reports

Residential Property

Ramon International Insurance and Reinsurance Brokers • Lloyd’s Broker

0207 369 5378

Residential Landlord’s Insurance

Having the correct insurance in place could be the difference between a financially crippling situation or a cushion to protect your assets when unexpected things go wrong. Whether it is a storm, flood, a housefire, escape of water or a burglary, you want peace of mind that your property and tenants are protected. 

Ramon works with a select number of insurers to find the appropriate cover, for the right premium, on your behalf. By utilising our vast experience in the property owners market, we understand the risks that landlords face and how best to protect them. 

We pride ourselves in being an independent Lloyd’s Broker where communication is paramount. Where possible, we prefer to conduct business face to face and view properties on a case by case basis.

We are specialists in assisting clients with:

– Building Insurance 

– Contents Insurance

– Property Owners Liability

– Malicious and Accidental Damage

– Loss of Rental Income

– Terrorism 

– Legal Expenses 

Everyone will have different insurance requirements for their property. The type of cover you will require will depend on the type of property you have, i.e. a house, flat, holiday home, and will depend on the type of tenant, including DSS and Students. We can review your current arrangements and help you to understand any gaps in the current policy or any exposures you may not have previously considered. 

Is your property unoccupied? You must advise your insurance company if your property is to be unoccupied for more than 30 days. The cover provided for an unoccupied property can be restrictive. Let us talk you through the conditions you must adhere to, to keep your property properly insured. 

Is your property undergoing renovations? It is unlikely your standard policy will cover damage caused while work is being undertaken. We can arrange a specialist policy for all stages of building, development and renovation. 

Portfolio of properties? We can consolidate all the properties under one insurance policy, with one renewal date, ultimately resulting in a discounted rate and a simpler renewal process for you. 

Does your business service Landlords? We can provide advice and cover on business insurance for a range of different industries including solicitors, accountants, estate agents, management companies, construction firms, surveyors and many more.  

Please speak to our resident property expert Charlotte on 0207 369 5378. She will be delighted to answer any of your insurance-related questions and provide quotations.

Frequently Asked Questions

1. Do I need a Landlord Insurance?
Having insurance on your rental property is not a requirement by law; however, protecting your asset from the unforeseeable is invaluable. A standard home insurance policy will not cover your rental activities, and specialist landlord insurance will likely be a requirement by your mortgage provider.

2. What does the Landlord Insurance cover?

A specialist Property Owners policy can cover a multitude of things including the building, your contents (the tenant must have their own contents insurance for their items), Property Owners Liability, rental cover, malicious damage, legal expenses and terrorism.

3. What is Buildings Insurance?

Buildings Insurance covers damage caused to your building by what we can an insured peril (such as fire, floor, lightning, storm, explosion, impact, etc.). The policy will cover the repair or rebuild of the building following a loss.

4. What is Contents Insurance?

Contents include all the elements inside your property that you could or would take with you if you sold the property. Most commonly and things such as furniture, personal items, kitchen appliances and soft furnishings. Your white goods could be considered either contents or buildings depending on if they are integrated. Your carpets are considered contents even though you may not take them with you. Do ask us if you are unsure as to whether something falls under buildings or contents

5. What is Property Owners Liability?

Property Owners Liability provides cover for your property causes and injury or damage to members of the public. A compensation claim for injury at your negligence can be crippling, so it is important to cover the liability on your property to ensure you are protected.

6. What is Rental Cover?

There are two types of rental cover available. – Loss Of Rental Income: Should you property be damaged and your tenant cannot live there whilst the repairs are being done, and they are therefore not paying the rent whilst the building is repaired, we will cover the rent for you until such time as the property is back in the position it was before the loss. – Rent Guarantee: This type of cover will guarantee the rent even if your tenant is in arrears, or not paying because of other issues, or you are proceeding with an eviction notice.

7. Do I need Landlord Insurance if my property is a flat or apartment?

If your property is a flat or apartment in a block, it will be the Freeholders responsibility to insure the building, and this should be included within your service charges. However, it is still your responsibility to insure the liability of your flat, your contents in the flat (if you have any) and rental cover if you so wish.

8. How much does Landlord Insurance cost?

The cost of your policy (also called the premium) will depend on a number of factors including the level of cover you choose, the size and rebuild cost of your building, the type of tenant you have living in the property, the area, security protections and your previous claims history.

9. Can I get a discount for insuring Multiple Properties under the same policy?

Yes, the more properties you insure under one policy, the better we are able to negotiate the price for you. This also means you have one renewal date for all your properties, and you only have to worry about it once a year.

10. What if my property is Unoccupied?

You must advise your insurance company if your property is going to be unoccupied for more than 30 consecutive days. Your insurer will want to restrict the cover under your policy to reflect the increased risk the property now poses. The risk is increased, due to several factors, including how quickly damaged can be notified and therefore mitigated, increased risk of break-in, attraction to squatters etc. The policy is usually restricted to Fire, Lightning, Explosion and Aircraft cover only; however, more comprehensive covers are available for a higher premium.

11. How can I get a quotation?

Please give Charlotte a call on 0207 369 5378 to discuss a quotation for your properties. Alternative, please email her on charlotte.benstead@ramon.co.uk to arrange a meeting or telephone call to discuss in more detail.

12. What do I do if I need to make a claim?

Firstly, you must ensure the property is safe for your tenants. Depending on the claim this may include boarding any windows or doors, turning off the water, evacuating if necessary, etc. once the property Is safe to call us to report the incident as soon as possible on 0207 369 5300. Our dedicated claims team will be on hand to help you.

Please speak to our resident property expert Charlotte on 0207 369 5378. She will be delighted to answer any of your insurance-related questions and provide quotations.

Email: charlotte.benstead@ramon.co.uk

Landlord Insurance The BLA Ramon Insurance products
Landlord Insurance 1

Building Insurance for BLA landlords at discounted rates, free property insurance quote Ramon has access to a select number of insurers, to find the best insurance.

Product SKU: buildinginsurance

Product Brand: Ramon

Product Currency: GBP

Product Price: 100

Price Valid Until: 2020-07-31

Product In Stock: Available

Editor's Rating:
5

Insurance Inquiry Form

Insurance

Comments are closed.