Dear Colleen, Rental insurance for home is also known as landlord insurance. This is a specific insurance that covers the unique risks that are taken in renting out the condo or home for a long time. The coverage of this insurance includes liability costs, property damage, and rental income loss for landlords who rent a property.
Whether you rent out your vacation home, investment property, or house, this rental insurance is a crucial safeguard that will protect you against any financial risk related to tenants who live on the property. When you are looking for rental insurance, you’ll find so many options available out there.
The Best Rental Insurance for Home in UK
Many insurance companies in the United Kingdom offer rental property insurance. Before purchasing one of them, you need to know more about the product offered by each company and compare them all.in order to get the best one for your own property.
1. Landlord Insurance by Direct Line for Business
Direct Line is known as the most reputable and largest insurer in the UK. Moody’s credit rating agency rewards Direct Line an A1 financial strength rating. This means the company is a great option for people who desire a stable insurance provider that is financially capable.
Landlord insurance product of this company is a recommended rental insurance for home. This product holds a 5 star Defaqto rating which means the independent analysts view the product as one of the best market’s products.
Monthly payments of this product are interest free, for new customers. This help them save on insurance payments that are often expensive.
2. Simple Landlords Insurance
Another rental insurance for home you need to consider is the Landlords Insurance. Simple Landlords Insurance was founded a decade ago. It was included in the first brands that offer specialist rental property insurance online. What will be covered under the landlord policy?
This Landlords Insurance offers cover that the landlord can choose and pick to suit his own requirements regarding his tenants and property. Two products that are offered by Simple Landlords Insurance are Contents insurance and buildings insurance.
The costs that can affect the premiums of Landlords Insurance include the property, the sum insured, the location of the property, and the security system of your property.
3. Landlords Insurance by More Than Business
The company name that provides rental insurance for home is More Than. This company was launched somewhere in 2001 and until now it provides various insurance products such as van insurance, car insurance, landlord insurance, home insurance, and also travel insurance.
The Landlords Insurance by More Than covers many things including building insurance (covers fire, burst pipes, flood, theft, or vandalism damage), malicious damage (covers for deliberate damage repairs that are caused by the tenants), accidental damage (covers for accidental damage repairs caused by the tenants).
More Than also offers optional extras like contents insurance, rent guarantee insurance, home emergency insurance, enhanced public liability insurance, and so on.
4. Saga Landlord Insurance
Next rental insurance for home you can consider is from Saga. Saga has 65 years of experience in insurance. This company has become one of leading insurance providers in the United Kingdom and has won various awards for the services and products it offers.
Just like some other insurance providers, Saga offers building insurance and contents insurance. Each insurance product offered by the policy of Saga Landlords Insurance comes with different features. In order to see the full features of the policy, you need to check the policy details carefully.
Some optional extras are also provided by Landlord Insurance by Saga. Those optional extras include rent guarantee cover and home emergency cover.
5. Landlord Insurance by Aviva
The last rental insurance for home to consider is from Aviva, which is the biggest provider for general insurance in the United Kingdom. This company offers various financial products such as landlord insurance, motorbike insurance, pet insurance, travel insurance, and also life insurance.
The landlord insurance by Aviva offers protection and cover for rental property of yours against various risks, such as storm, fire, theft, flood, and subsidence. This company also offers some optional extras like accidental damage cover, personal belongings cover, and also home emergency cover.
Rental insurance for home is something you need to consider in case you are going to rent out your property such as a condo, a vacation house, or another precious property.