Landlord contents insurance helps protect you if household items in your rental property are damaged or destroyed. If you’re a new landlord, you might be wondering if contents insurance is a must-have for all rental properties or if there are some occasions where you won’t benefit from this kind of insurance. 

In this blog, we’ll cover everything you need to know, including:

• What does landlord contents insurance cover?
• Do I need contents insurance as a landlord?
• Do landlords have to have contents insurance?

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What does landlord contents insurance cover?

Landlord contents insurance typically covers the cost of replacing or repairing items in your rental property that have been stolen, damaged or destroyed by an event like a flood or fire. It should cover soft furnishings, furniture, white goods, and appliances supplied by the landlord. For example, if the washing machine you provided was damaged in a fire, landlord contents insurance would cover the cost of repairing or replacing this item. 

However, it does not cover the normal ‘wear and tear’ of items. It also won’t cover any items belonging to the tenants (they’ll need their own contents insurance to protect their personal possessions). Some contents insurance policies won't cover malicious or accidental damage, so you might need additional cover to protect your items from this.

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Do I need contents insurance as a landlord?

Whether or not you need contents insurance as a landlord depends on the type of property you rent out. If you let out a furnished or part-furnished property, you might want to consider insuring any household items you’ve purchased through landlord contents insurance. 

Contents insurance is particularly important if you rent out a fully furnished property, as it will cover the cost of replacing all of the household items, furniture and appliances you have provided if they’re stolen, damaged or destroyed. 

Do I need contents insurance for unfurnished properties?

If you rent out an unfurnished property, you might be wondering if there’s any point in investing in contents insurance. 

Although contents insurance is more important for furnished properties, it can still be useful for unfurnished or part-furnished properties. This is especially the case if you’ve provided appliances, such as a washing machine and fridge freezer, as having landlord contents insurance will help protect these items. Additionally, many property owners' contents insurance policies also protect soft furnishings, like curtains and carpets, which might be excluded from your building insurance policy. 

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Do landlords have to have contents insurance?

If you rent out a furnished or part-furnished property, landlord contents insurance is generally recommended to help protect items you’ve purchased for your tenants. Unexpected events, like floods or fires, could cost you a lot of money if you’ve not taken out landlord contents insurance. Having a suitable insurance policy in place is the best way to protect your financial investment.

However, there is no law saying that any landlords have to have contents insurance. Whether you choose to protect your household items from damage ultimately rests with you. 

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Specialist landlord insurance policies by Lets Insure

If you rent out exclusively unfurnished properties, you might decide that you don’t require landlord contents insurance. However, there are many other specialist landlord insurance policies that can help protect your rental properties. 

Lets Insure offers a range of specialist insurance policies designed to give landlords peace of mind and make their lives easier. We offer rent guarantee insurance, home emergency cover and deposit replacement insurance.

Rent guarantee insurance

Rent guarantee insurance protects you if tenants stop paying rent during their tenancy. Our policy pays up to a maximum of £2,500 per calendar month from the date of the first missed payment until you gain legal vacant possession. If you depend on your rental income, for example, to pay a mortgage or for living expenses, this is an essential protection to have in place. 

Lets Insure also offers a premium Rent Guaranteed service, which ensures you’re paid on time each month, even if your tenants miss a payment or pay late. Our Rent Guaranteed service offers extra peace of mind and means you won’t have to stress about what will happen if your tenants don’t pay their rent on time.

Home emergency cover

Our home emergency cover gives you 24-hour access to a team of certified contractors who will deal with any emergencies in your rental property as swiftly as possible. This will reduce the likelihood of damage to your property and minimise the disruption to your tenants. Plus, you won’t have to worry about being available to your tenants 24/7 in case there’s an emergency or deal with the hassle of trying to sort out any issues yourself. 

Deposit replacement insurance

This legal expenses insurance protects you if there is a dispute over damage found in the property. Our deposit replacement insurance acts as an alternative to a traditional tenancy deposit. 

The tenant will pay us a non-refundable fee (approximately 1 week’s rent), which then insures you in case of a dispute. The policy will cover legal expenses up to £50,000. If a settlement cannot be reached, we will pay the amount you are claiming from the tenant (up to a maximum of 6 or 12 weeks' rent).

Visit our site to view our full range of landlord insurance policies. 

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