Squire Property Management can introduce you to LetAlliance. They provide a range of specialist Landlord insurance products to suit your requirements. Please click the link below to arrange a quotation.
Squire Property Management are able to offer you a rent guarantee which also covers legal expenses. This covers non payment of rent for up to 6 months (minimum £250.00), and legal expenses associated with gaining possession of your property. The guarantee can be taken monthly or annually, and is priced on request based on the rent level. Please contact us on 01480 731750 or
Buildings, Contents & Liability Insurance
Landlords will usually need to take out a specific Landlord Buildings & Contents policy, as your normal home or buildings insurance is unlikely to cover rental activities. Your mortgage lender may also require you to take out a specialist Landlord policy.
Buildings Insurance normally covers any damage to the structure of your property, and the rebuild costs if it is irreparably damaged. If your property is a flat within a block, buildings insurance will usually be part of a shared block policy, which you will pay for as part of your service charge, but you will need to check this and consider taking out additional contents/liability cover.
Contents insurance can be taken out as a stand alone policy, or as part of your buildings policy. Cover levels will vary depending on whether your rental property is furnished, or unfurnished. This should cover the cost to repair, or replace fixtures and fittings such as furniture, electrical items and carpets etc. It is possible to extend cover to include accidental damage. Your tenant is responsible for insuring their own belongings/furniture, so should take out their own contents policy.
Liability Insurance/public liability cover can be a separate policy, or part of your Buildings Insurance policy. This protects you if your tenant or a visitor/agent/contractor etc suffers an injury in your property. These usually have high cover limits, which could be necessary if you are held legally responsible for an accident/injury, and have to pay compensation.
Rent Guarantee
As long as your tenant has been referenced to the satisfaction of your insurer, this type of insurance will cover the rent if the tenant falls into arrears. There are many variations in cover, some cover unpaid rent for a fixed period of time others until the tenant vacates. Some rent guarantee policies also include legal protection and some cover void periods.
Legal Protection
This type of insurance covers the cost of legal expenses associated with repossession and eviction proceedings. If your tenant fails to leave the property within the appropriate notice period, the insurer will instruct a solicitor/barrister to represent you if the matter goes to court. If not insured, you will need to pay any solicitors fees, court fees and/or bailiff fees which can be very expensive.
Landlord Emergency/breakdown/servicing
Various insurance policies or service contracts are available that cover items such as 24/7 emergency call outs, boiler servicing/breakdowns, plumbing and drainage cover, appliance protection etc. You should consider the cost of insuring these items vs the cost of repair or replacement if required.