Delegated Authority – Homeowners Property Insurance

Landlord insurance provides financial protection for property owners renting out residential homes, flats, or multi-unit buildings. It typically covers property damage, loss of rental income due to an insured event, and liability protection in case of tenant or visitor injuries.

Unlike standard home insurance, landlord policies are designed to safeguard against risks unique to rental properties. Examples could include malicious damage by tenants or legal expenses for eviction proceedings.

Home insurance is essential for protecting your property and belongings against unforeseen events like fire, theft, and natural disasters. It provides financial security by covering repair or replacement costs, ensuring you’re not left out of pocket in case of damage.

Additionally, most mortgage lenders require homeowners to have insurance as a condition of their loan. Beyond structural protection, home insurance often includes liability coverage, shielding you from potential legal costs if someone is injured on your property.

Yes, homeowners insurance generally covers stolen property under the contents insurance section of your policy. This includes theft from within your home and, in some cases, belongings stolen outside (such as from your car or while travelling).

However, coverage limits and exclusions may apply, particularly for high-value items like jewellery or electronics, which may require additional cover.

The best insurance for an investment property depends on its use. If you rent it out, landlord insurance is ideal, offering protection against property damage, rental income loss, and liability risks.

If the property is vacant for extended periods, unoccupied property insurance may be necessary. Policies can also be tailored to cover specific risks such as flood, fire, and malicious damage by tenants.

As a tenant, you typically need renters insurance (also called tenants’ insurance), which covers your personal belongings against theft, fire, and other risks. It may also include liability protection if you accidentally damage the property or a visitor is injured inside your home.

The landlord’s insurance covers the building itself but does not protect your possessions.

Most landlord insurance policies cover accidental damage caused by tenants, but malicious or intentional damage may require additional coverage. Some policies also include legal expense cover to help landlords recover costs associated with tenant disputes, evictions, or unpaid rent.

Always check your policy terms to ensure you have the right level of protection.