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Landlord Insurance is a term that applies to a policy covering buildings and contents for a property that is let to a tenant. The property may be either residential or commercial and the policies may differ slightly.

Landlord Insurance usually includes the following coverage:
o Landlord Building and Contents Insurance,
o Rent Guarantee,
o Legal Expenses,
o Emergency Assistance.

None of these products are compulsory although if you do have a loan or a mortgage on your property, you will be required to effect landlord building Insurance as a condition of the loan. Your lender will want their interest noted under the contract wording and you will have to insure for an amount as stated in their loan offer.

As a purchaser of Landlord Insurance it is important that your obtain conformation that all of the requested perils are covered as, if this is not the case, you may find your self in breach of your mortgage terms.

The perils covered are fairly typical of a policy you would expect to receive for your own home.
o Fire,
o Lightning,
o Expolsion,
o Earthquke,
o Storm,
o Flood,
o Escape of water or oil
o Impact,
o Collapsing Trees and Aerials,
o Damage to underground pipes and cables,
o Subsidence Landslip and Heave.
o Theft or Attempted Theft.

Liability can also arise in connection with accidents resulting from a landlord ownership of a building. For example a tile may fall off the roof and injure a passer-by. Cover for this is provided under the building section of the insurance policy and a sum insured of £1,000,000 is fairly typical.

Accidents happening in the home tend to come under the heading of occupiers liability and for this type of cover to apply, then the landlord would have to extend his building insurance policy to cover contents as well.

Finding cheap landlord insurance is a common issue. It’s much like looking for cheap car insurance - get a few different auto insurance quotes to start. Remember how you handled the subject of finding cheap car insurance? You start off with auto insurance quotes and move on from there, checking one cheap car insurance policy against the other and calling for more auto insurance quotes as you go along. Finally you have list of all the companies with their insurance quotes and details and you can decide which cheap car insurance policy is best for you. Do the same exercises with the Landlords Insurance to save.