Why you need Landlord Insurance

Landlord insurance is simply a policy that protects the landlord from financial losses, often associated with rental property. Your building is the coverage of this policy, but you have the option to include any of your valuables inside your property. There are many reasons for protecting your properties using the appropriate landlord insurance. Keep in mind that your property is a crucial asset that you should always protect. This means that this insurance helps safeguard your future revenues and the investment you’ve already made.


However, many property owners overlook the benefits of having the right landlord insurance cover. Some of the common problems that this insurance cover offer includes rental income loss, legal liabilities when a tenant misuses your property, damages as a result of fire, flood and more. Here are some reasons why you need this important insurance cover.

1. Flexible Payment Options

Before choosing any insurer, it’s important to do your own research to find the right insurance plan for your needs. Choose a company that offers flexible payment options. This will enable you to determine how much you’ll be paying each month and you’ll always be covered for any repairs and other expenses.

2. Helps Protect Your Investment

It’s important to keep in mind that your buying-to-rent property is your investment, but when renting it out to your tenants, you are completely leaving it in their hands. For most landlords, there is a worry of leaving their properties to other people to look after it, and in this case, having the right insurance can help give you peace of mind that your investment is protected. Ensuring that you’re always ensured against flood, damage and fire is a good thing to do. Having this insurance means that you’re covered for huge payouts that are costly.

3. Ensure Receipt of Rent

Regardless of whether you’re a residential or commercial landlord, your tenants are likely to get into rent arrears or refuse to pay their rent. Actually, this is some of the things that any landlord will not like to happen to them. This is because the costs can quickly mount, which can make you suffer from a huge financial loss or crisis. Having a landlord insurance policy from a reliable insurance company is important because it will cover you from such crisis. You can be covered for broken tenancy agreements and missed rent payments.

4. Repair Your Property/Malicious Damages Quickly

If your property is damaged by the tenant, you’ll receive full compensation for the costs of repair or replacement of any item in question. With this insurance cover, you can have peace of mind that your property will always be in good condition at all times. In addition, if your property is intentionally damaged, this insurance will offer cover for that. It will also help you take care of all repair expenses, including replacing items, which are stolen.


Concisely, there are just a few reasons why you need to secure landlord insurance for your investment portfolio. If you’ve more than one rental property, this insurance will help reduce your maintenance and operational costs – saving you a lot of money and time, especially when it comes to handling common problems around various properties.