5 checks to help make sure your landlord insurance covers you for the most common tenant claims
No matter how well a tenant looks after a rented home, accidents can happen. So it’s no surprise that tenants take out their own insurance that covers any accidental damage to their landlord’s property, as well as damage to their personal possessions.
However, there are still a lot of tenants who are not insured, so it’s important to make sure you are properly protected financially yourself through specialist landlord insurance.
At Bode Insurance Solutions, we specialise in both tenant and landlord cover, which means we understand very well how to protect landlords against the most common claims made by tenants.
With that in mind, here are five key areas involving tenants that it’s important to check your landlord policy covers you for:
- Accidental damage to your furnishings and fixtures by tenants. This is one of the most common claims made by tenants themselves. Although they might be able to afford to replace smaller furnishings if they’re damaged, things like sofas and kitchen countertops can cost several hundred pounds, and an uninsured tenant may struggle to pay you.
- Accidental damage to carpets by tenants. While this should fall under your general contents cover, it’s worth double-checking as it’s another common tenant claim. If a whole room needs to be recarpeted, it could easily cost over £1,000 (UK average).
- Deliberate damage by tenants. A specialist landlord policy should include ‘malicious damage’ cover, in case your tenant or one of their guests deliberately damages your contents or the property itself. While things like vandalism, domestic violence and setting up a cannabis farm in a rented home are still relatively rare, malicious damage claims commonly run to many thousands of pounds, so it’s important to check you are properly insured. It’s also worth noting that tenant insurance policies will not cover this.
- Loss of rent or alternative accommodation following an insured event. If your property becomes temporarily uninhabitable as a result of an insured peril, such as a fire or flood, you may need to find alternative accommodation for your tenants. The cost of doing this can be covered by your landlord insurance. And if you can’t rehouse your tenants or they decide to move on, ‘loss of rent’ cover can ensure you don’t lose out on rental income while the property is undergoing repairs.
- Tenants’ non-disclosure of relevant information. Provided you can show that all reasonable and required pre-tenancy checks were made properly, you should be able to benefit from contingency cover in case a tenant has withheld information that causes you material or legal problems if you make a claim
If you would like to discuss your insurance needs, simply get in touch with the team of buy-to-let brokers at Bode. We work closely with multiple leading insurers and partner with lettings specialist underwriters who are 5* Defacto rated. This is an independent rating from experts who have checked the insurance policies from between 30 and 100 features and benefits. As such Bode are well placed to secure you the most suitable policy, saving you the job of searching for a provider yourself.
We also take care to operate a sustainable and environmentally responsible business and have been carbon neutral since 2022.
If you are a current landlord with any of the agencies in Leaders Romans Group, an insurance quote is ready and waiting for you in your online landlord account. No fuss or forms to fill out!
Or, if you’d like to speak to an expert directly to help you create a tailored policy for your leasehold property, call 01903 890044 or email the Bode team on info@bodeinsurancesolutions.co.uk or by getting a quote online.
Bode Insurance Solutions Limited is registered in England (Company no 03101637) Registered Address: Crowthorne House, Nine Mile Ride, Wokingham, Berkshire RG40 3GZ.
Bode Insurance Solutions Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference 313541.
You may check this on the Financial Services Register by visiting the FCA’s website https://register.fca.org.uk or by contacting the FCA on 0800 111 6768
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