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Landlord's Buildings Insurance
Landlord's Buildings Cover
What's covered?
Buildings cover provides protection for your property if it's damaged and has to be repaired or rebuilt. For example, damage to your property caused by fire, flood, storms or vandalism.
When should I claim?
You're probably covered for more than you think, but here are just a few examples. If your property is damaged by weather events, such as storm or lightning, malicious damage, fire, theft or falling trees, then buildings cover will help repair the damage.
What is inflation protection?
Inflation protection is a feature added to an insurance policy that provides for an increase in the value of benefits due to the rise of inflation over time. The good news is that the policy available online provides an automatic increase in your sum insured value. This increase means that if the cost to rebuild or repair your property increases due to inflation by up to 30%, you’ll be covered.
How do I work out my re-build cost?
It's essential that you get the right level of buildings cover, so make sure you work out the correct re-build cost of your property. This is the cost of how much it would be to rebuild your property. It’s not the same as the market value of the property, which is based on the land value and desirability of the location.
To help estimate the re-build cost of your property, use a re-building cost calculator like the one supplied by the Building Cost Information Service, commissioned by the Association of British Insurers.
Keep in Mind
- Online policy is underwritten by RSA Insurance Group PLC.
- Insurance covers are subject to the individual terms, conditions and exclusions of the insurer providing them. Always review the policy documentation supplied during the quote process to ensure you have the cover you need.
Other insurance covers available for landlords
|
Type of cover |
What is covered |
|---|---|
|
Type of cover |
What is covered Accidental damage to the building and its fixtures and fittings. For example, if you or your tenants accidentally smash a window or drop something and crack a sink. |
|
Type of cover |
What is covered Household items that you have provided for your tenants, such as soft furnishings or appliances, if they are damaged or destroyed by an insured event. |
|
Type of cover |
What is covered Your cash flow is protected if, after an insured event such as flood or fire, your tenants stop paying rent or have to move out. If your tenants do have to move out, the costs of arranging alternative accommodation on their behalf is also covered. |
|
Type of cover |
What is covered Damage to your property as a result of a movement in the ground supporting your property. |
|
Type of cover |
What is covered You are protected if a person is injured or if there is damage to their property as a result of your negligence. |
|
Type of cover |
What is covered You are protected if an employee is injured or dies as a result of your negligence. |
|
Type of cover |
What is covered Your legal expenses in proceedings such as contract disputes, debt recovery and evicting squatters. |
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Information you'll need to provide
Whether you ask for a landlord insurance quote online (1-5 properties), need advice or have complex requirements (6+ properties), you'll need the following details to hand:
- Details of the property/properties to be insured
- Any claims you've previously made on the same property/properties
- Any security protection at the property/properties
- If you're a business, how many employees you have and what kind of work they do.
Keep in mind
Standard home insurance won't cover the extra risks you face as a landlord. For example, if a tenant is injured by a falling roof tile at your property or if a flood means your tenants have to move out for a while at your expense.
The small print
Please check you have all the cover you need by reading the policy documentation carefully (this will be provided during the quoting process).
Important legal information
Lloyds and Lloyds Bank are trading names of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
Calls may be monitored or recorded to help us improve our quality of service.
Lloyds Bank plc is an introducer to Arthur J. Gallagher Insurance Brokers Limited who arrange and administer Lloyds Bank Business Insurance Services and source products from a panel of insurers