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Ordinary home insurance quietly fails landlords, because it is built for owners who live in the property: it covers the building but not the two things that actually go wrong with rentals — the tenant who stops paying and the tenant who damages the place. Landlord insurance adds those covers: rent default after a tribunal order or eviction, and tenant damage that home policies exclude, plus the liability cover that matters when someone is injured on the property or you are sued over it. This guide walks what the policies actually cover, how pricing responds to real risks, and the fine print — waiting periods, exclusions, intentional-damage caps — that separates a policy that pays from a policy that argues. A landlord who buys on headline price alone is buying a lottery ticket with a premium.
What landlord insurance actually covers — building, rent default, tenant damage and liability — and how to match the policy to your property's real risks.
Because it does not cover the two biggest rental risks: loss of rent when the property is uninhabitable or the tenant stops paying, and tenant-caused damage that contents and building policies exclude. Landlord policies bundle both in, along with the liability cover owners rarely need.
It typically pays several months of lost rent after a tribunal order or eviction, subject to a waiting period and conditions like an accurate rent ledger and proof you pursued the debt. Read the waiting period and maximum weeks before you need them.
Flood, storm, intentional damage and the definition of 'tenant damage' are the usual gaps. Compare at least two quotes on identical cover and excess — the cheapest policy is only cheap until the claim arrives.
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