Landlord Services
Letting a property - and especially running an HMO - is a different risk to living in your own home. A standard home policy generally won't cover it. Here's the cover landlords actually need, what each type protects, and where the gaps are.
The basics
Landlord insurance isn't a legal requirement in its own right. But if there's a mortgage on the property, your lender will usually require buildings insurance as a condition of the loan - so in practice most landlords need cover. The bigger issue is using the right cover: letting a property out changes the risk, and the policy has to reflect that.
A standard residential home insurance policy generally does not cover a property that's let out - and especially not an HMO or multi-let. If you let on an ordinary home policy, you risk invalidating it: a claim can be refused outright because the property wasn't being used the way the policy assumed. Landlords need specialist landlord cover - and multi-lets need HMO-specific cover.
The cover types
Landlord cover is built from several parts. Each one closes a specific risk - and leaves a specific gap. Here's what each typically covers, and what it doesn't, so you can see the whole picture.
Typically covers
Doesn't cover your tenants' belongings, or loss of rent while the property is being repaired - those are separate covers.
Typically covers
Doesn't cover damage to the building itself, or disputes with a contract-holder - that's legal expenses territory.
Typically covers
Doesn't cover the contract-holder's own possessions - they'd need their own contents policy for those.
Typically covers
Loss of rent after an insured event is different from rent guarantee for arrears - check exactly which you have.
Typically covers
Doesn't cover deliberate damage, or gradual deterioration and general wear and tear over time.
Typically covers
Doesn't pay the rent you've lost or the cost of repairs - it covers the legal process, not the underlying loss.
Typically covers
Standard landlord policies often restrict or void cover once a property is empty beyond a set period - this fills that gap.
Typically covers
A single-let landlord policy generally won't properly cover an HMO - the risk profile is different and cover can be refused.
How we help
Arthur & Hamilton isn't an insurer and we don't sell policies - but we know the Cardiff landlord market, and we can point you to brokers who arrange specialist landlord and HMO cover.
Single let, HMO or portfolio - and how it's occupied. The right cover depends on the detail.
We're not an insurer. We introduce you to specialist landlord and HMO brokers who arrange the cover.
A policy built for letting - so a claim isn't refused because the property was on the wrong type of cover.
The wrong policy can leave you exposed - especially on an HMO. Tell us about your property and we'll point you to specialist landlord cover.
We've received your enquiry and a member of the team will be in touch shortly.