We know you’re a responsible landlord. You maintain your buy-to-let property to a high standard, with the correct landlord building insurance in place whilst ensuring your properties are safe and secure and that your tenants are happy. But, no matter how much care you take, accidents can still happen. Your tenant may trip over a loose carpet, or one of their guests may be injured by a faulty electrical fitting.
Thankfully, landlord liability insurance can provide peace of mind in the event that a claim is brought against you, as Steve Cox explains…
What is landlord liability insurance?
Also known as ‘property owners’ liability insurance’, it is a type of insurance that covers you against legal action from a member of the public if they’re injured – or their possessions are damaged – at your rental property. This could be your tenant or one of their guests.
How much liability cover does a landlord need?
Levels of cover vary, but we provide property owners’ liability insurance as standard with our award-winning landlord insurance. Most of our policies cover you up to the value of £5 million for any one incident and levels of cover can be increased if necessary.
Most of our policies cover you up to the value of £5 million for any one incident
It’s important to be aware that public liability for landlords differs from employers’ liability insurance, which provides protection in the event of injury to anyone you’ve hired to work on your property, such as a gardener or a builder. Again, we include this as standard with landlord insurance with cover for up to £10 million.
Read more: How much is landlord insurance?
What could happen without it?
You would not only need to fund the cost of your own defence, but any damages awarded and potentially the claimant’s legal costs too, which could run into millions of pounds. For instance, the claim will take into consideration any loss of earnings or ongoing care required by the claimant. By taking out public liability as a landlord, you could claim on your insurance to cover these costs.
Do I need it if I’m renting to family?
Although it’s not a legal requirement, we would recommend that you have it. While it’s unlikely that a family member will bring legal action against you, their guests may if they’re injured at your property.
What about if I rent out a flat?
The same applies. Your tenant could still bring a claim if they are injured at your flat. It may also provide cover for communal areas that are deemed to be your responsibility.