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SME Insurance
Landlord insurance is a type of home insurance which is specifically designed for people who rent their property out to tenants.
Although it is not a legal requirement to have a suitable landlord insurance policy, you may find that your property is not covered when it has tenants renting it from you, even if you have regular home insurance. This is because the risks associated with leasing your property out are far greater in the eyes of insurers than the property owner living in the property.
There are several different aspects to landlord insurance, which can include some, or all of the following types of insurance:
Insurance for Rental Property
When you decide to rent out a property, you are putting it in the hands of the people who are going to be living in it. This can be a great source of income and a way to keep your property occupied, but there are always going to be risks associated with letting strangers use your property. Therefore specialist landlord insurance is a great way to protect yourself and your property should things go wrong.
It is not a legal requirement to have landlord insurance, however most home insurance policies will not cover property which is rented out to tenants. This means that landlords can be in a tough situation should any accidents happen, the property is damaged, or the tenants injure themselves due to issues with the property. Landlord insurance policies provide specific cover for landlords, insuring you and your property in the event of accidents or incidents occurring.
If you are a landlord, it is a good idea to get Architects Insurance. This is a good idea because if you decide to make a change to your property and any point and the tenant doesn’t think it was a good idea or has had a negative impact, they can sue the architect. This is a good precaution for any architectural changes you want to make.
Business Insurance for Landlords
Many landlords operate as property businesses, with many homes and buildings in their portfolio. There are business insurance deals available for landlords which offer protection for multiple properties on one policy, so it is certainly worth speaking to us here at Erskine Murray to find the best landlord insurance for your needs.
In the event of something going wrong with one of your properties, you will want to have it fixed and ready to rent out again as quickly as you can. The policies available for landlords allow you to protect your property and have it back up and running in a swift manner ready for more tenants. Optional rental protection insurance can help you to safeguard your rental income during times when you are unable to rent your property out, such as when it is being refurbished or repaired.
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It is not a legal requirement, however, be aware that most home insurance policies will not cover property which is rented out. Most buy-to-let mortgage lenders also expect to see you have landlord insurance in place before they will lend to you.
There are lots of reasons why regular home insurance will not provide sufficient cover for you: firstly, you may not be there to see the property very often and judge the state it is in; tenants may not keep abreast of maintenance issues which could get out of hand; tenants may cause accidental or malicious damage; tenants may injure themselves and you could be liable as their landlord.
We can advise you about the best options for multiple properties. It is possible to get multiple properties insured on one policy, or you might decide to insure them separately.
This very much depends on the size of the property and the type(s) of cover you require. Speak to the experts here at Erskine Murray to find the best quotes to suit your needs.
Cyber
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Directors’ and Officers’
Often referred to ad 'D&O', this policy is designed to defend individuals against damaging claims.
Shops and Offices
From office blocks and home offices to hairdressers, florists and newsagents, we cover the entire scope of this sector.
Commercial Property Owners
For property owners, investors or developers, single property to portfolio's, we have the solution.
Residential Property Owners
For property owners, landlords and associations, we deliver a policy that covers all related risks.
Fleet
One policy for fleets of all sizes. Our online platform compares insurers within minutes, so you know you have the right cover.
Professional Indemnity
Often referred to as 'PI', a profession-based risk management package.
Tradespeople
Our package covers every single trade. Simple, effective and delivered by the same or following working day.
Motor Trade
For dealerships, mechanics, valeters, bodyshops and everything in-between, we've got you covered.
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Golf courses possess specific risks which specialised golf course insurance can help protect you against.
Bakery
Whether you are a small independent bakery, or a larger chain, it is vital you consider your level of business insurance.
IT Contractors
From basic repairs and builds through to emergency cover, your clients call on you for your expert knowledge and skill.
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There are many risks associated with not only running a successful business, but in serving hot drinks and food to the public.
Architects
Professional indemnity insurance is an important policy, as you are offering professional services to other people & businesses.
Surveyors
Your clients call on you for your expertise, knowledge and skill, whether you are a quantity or land surveyor.
Business Interruption Insurance
Business Interruption insurance, also known as BI, is a much-misunderstood cover which can often be overlooked by small business owners.
Wholesalers Insurance
Erskine Murray can help wholesalers to find the appropriate insurance to manage the risks to your industry and provide the right protection for your business needs.
Tech Start Up Insurance
Here at Erskine Murray, we make it easier for you to cover and protect your business with several appropriate policies packaged together.
Media Professionals Insurance
The media and marketing industries can be vulnerable to claims of negligence for what are in fact basic errors.
High Net Worth Insurance
High net worth insurance is ideal for people with high profile occupations such as sports people, actors, singers and other people in the public eye.
Graphic Designer Insurance
As the risks can be fairly wide ranging, there are lots of appropriate insurance policies which can be useful for graphic designers.
Civil Engineering Insurance
At Erskine Murray we understand the many risks associated with those involved with working at height, extreme depth and working with asbestos.
Business Owners Policy Insurance
An enhanced business insurance policy which combines property insurance alongside general liability insurance.
Contractors All Risk Insurance
Whilst all construction sites are different, there are still common risks and threats shared by them all.
Who do I
Contact?
If you would like to talk more about your SME Insurance needs please contact Rob.
Rob Marshall
Head of SME
Employee Benefits
Have you considered an Employee Benefits package? Such a policy can help you attract and retain a highly skilled and dedicated workforce.
Our PI arm are specialists in providing PI insurance for architects, consulting engineers and the construction industry.
