Landlord insurance offer: Get 10% off with LLSAVE10

Nobody wants to imagine their rented home being damaged by a fire, flood or storm. But if the worst happens, one detail could make a considerable difference to both the landlord and the people living there.

Specialist landlord insurance can help pay to repair or rebuild a rented property following an insured loss. It may also help arrange alternative accommodation for tenants when their home becomes unliveable and there is no other insurer involved.

That makes the policy worth knowing about even if you’re a renter rather than a property owner. Tenants cannot take out landlord insurance themselves, but they can ask their landlord what protection is in place and what would happen if serious damage forced them to leave the property.

Landlords currently have another reason to get a quote, with a discount code cutting 10% off the price of a qualifying new policy.

The code to enter is LLSAVE10.

Landlord insurance differs from an ordinary home insurance policy because it is designed around the risks involved in renting a property to tenants. Buildings insurance and property owners’ liability are included as standard, while other levels of cover can vary.

Property owners’ liability is another important part of the protection. This can cover third-party claims if somebody is injured at the property, or their belongings are damaged, because of the landlord’s negligence.

Depending on the cover selected, a policy may also protect against accidental damage, subsidence and damage to underground pipes or cables carrying essential services such as water, gas and electricity. Landlords should check the policy documents carefully to see exactly what is included before buying.

For renters, the provision for alternative accommodation is arguably the most interesting feature.

If an insured incident leaves the property uninhabitable, the landlord’s cover may help to rehouse the tenants when they do not have suitable cover of their own and there is no other insurer involved. This is subject to a valid claim and the policy conditions, but it could provide a valuable safety net at an extremely stressful time.

Tenants may therefore want to send the landlord insurance offer to their landlord or letting agent and ask what arrangements would be made if the home became unsafe to occupy.

The policy could also make life simpler for landlords with several rental homes. Up to 10 properties can be protected through one policy and managed from one account space, reducing the need to keep track of separate policies for every address.

Standard landlord insurance is intended for residential properties. A building rented to a business for commercial purposes, such as a shop, garage or office, will normally require commercial landlord insurance instead.

However, standard cover may still apply when a property remains primarily residential and the tenant has permission to use part of it for their business. Landlords should check the details directly if they are unsure which type of policy they require.

The discount applies to qualifying new policies for the first year only. A minimum premium applies, and the saving does not apply to terrorism cover, legal expenses or minimum premiums. It cannot be used alongside another offer, and the insurer reserves the right to extend or withdraw it.