If you’re here because you’ve found yourself wondering, “Is landlord insurance the same as building insurance?” then you’ve come to the right place! Keep reading to find out everything you need to know.

What is landlord insurance?

In a nutshell, landlord insurance is a policy you can purchase if you are renting out your property to a third party. Depending on the type of policy and the possible add-ons you may opt to include, landlord insurance covers you against several risks related to the rental property and rental activity. When you are purchasing the policy, you can choose the risks you would like it to cover, such as accidental damage, loss of rent, and building insurance. 

What is building insurance?

Building insurance is a policy which most landlord insurance schemes cover. This protects the property against accidental damage and will cover the cost of repairing or rebuilding should it be damaged by something like a fire or flood, or even vandalism. It will also cover fixtures and fittings inside the property. 

Is landlord insurance the same as building insurance?

Knowing the difference between landlord and building insurance can be tricky if you are not familiar with the terms. However, put simply, landlord insurance is a collection of different policies that are put together to protect the landlord and their property. One of these policies is building insurance. If a landlord chooses an insurance policy that does not include building insurance, then the building itself will not be protected from things like natural events (fire or flood) and damages. On the other hand, if you purchase solely building insurance, only the building will be covered, and you will not be protected against things such as loss of rental income and legal expenses. 

Although you’re not legally obligated to purchase either policy, as a landlord it is well within your interests to purchase full landlord insurance - one including building insurance. This is the best policy to protect you and your property investment.

How Lets Insure can help

Lets Insure is a free tool which offers landlords everything they need to effectively start and manage tenancies with full compliance. You can sign up for free today and have access to all the products and services you’ll need. Plus you can contact us at any time with any questions you may have. We are experts at helping and protecting landlords.

‍