Do I need Landlord Emergency Cover?

As a landlord, you understand you have a responsibility to keep your tenants safe first and foremost. Naturally, you also want to protect your rental income against every eventuality.

But with several types of insurance available to safeguard every area of your rental, it isn’t always obvious whether you need landlord emergency cover as well…

What is landlord emergency cover? 

If your rental property needs emergency repairs, a call-out could cost you more than you think – let alone the headache.

Emergency cover is designed to protect your property, your tenants and your wallet should an unexpected event occur that causes unpredictable damage or makes your property unsafe for your tenants.

It is usually an additional cover that sits alongside your building insurance, liability insurance and, if your property is furnished, contents insurance.

What does the landlord cover include?  

It does vary between cover providers but typically you’ll be covered for situations such as:

• – Plumbing and heating problems (aside from normal wear and tear), burst pipes and boiler breakdowns

• – Water mains or electricity supply failure

• – Roof damage that causes a sudden leak

• – Blocked drains and sewer problems

• – Sudden pest infestation

   

Landlords may also have the option to include the following:

• – Annual boiler service
• – HMO cover
• – Gas safety certificates

PlusHeat, for example, offers customisable plans so you can select exactly what level of coverage you need. You can check them out here.

What Does Landlord Emergency Cover Exclude?

Landlord emergency cover typically excludes the following:

1. Routine maintenance: This includes repairs that are the landlord’s responsibility, such as fixing a leaking tap.
2. Pre-existing conditions: This includes emergencies caused by pre-existing conditions that were known to the landlord before taking out the cover.
3. Damage caused by tenants: This includes damage caused by tenants or their guests.
4. Non-emergencies: This includes repairs that are not considered emergencies, such as cosmetic repairs.

Do I need landlord emergency cover? 

Unfortunately, the things our tenants rely on the most in their homes can fail without warning. If the boiler breaks down or there’s a sudden leak, it’s not only distressing for your tenants but can also be dangerous.

Repairs should be sorted as soon as possible to prevent further damage, reduce the impact on your tenants and make your property safe again. But arranging repairs can be stressful, time-consuming and expensive. That’s where emergency landlord cover comes in.

It offers 24-hour assistance, 365 days giving you peace of mind that the issue will be sorted even if you’re not there to handle it yourself.

How Does Landlord Emergency Cover Work?

If you have landlord cover, you will typically have access to a 24/7 helpline that you can call in case of an emergency. Once you have reported the emergency, the provider will send out a qualified engineer to fix the problem. If necessary, the provider will also arrange alternative accommodation for your tenants.

What are the Benefits of Emergency Cover?

Landlord emergency cover provides the following benefits:

1. Peace of mind: You can rest assured that you are covered in case of an emergency.
2. Cost savings: Landlord emergency cover can save you money in the long run by covering the cost of emergency repairs and alternative accommodation.
3. Tenant satisfaction: Providing cover to your tenants can help to build trust and satisfaction.

How to Choose the Right Landlord Cover?

When choosing landlord cover, consider the following:

1. What is covered: Make sure the cover includes the emergencies you are most likely to face.
2. Limits and excesses: Check the limits and excesses to ensure that they are reasonable and affordable for you.
3. Reputation: Research the provider’s reputation and customer reviews to ensure they are reliable and trustworthy.
4. Price: Compare the prices of different providers to find the best value for money.

How Much Does Landlord Cover Cost?

The cost of landlord cover varies depending on the provider and the level of coverage you require. The average cost is around £200 per year, but this can vary significantly. It’s important to shop around and compare prices to find the best deal.

Who Needs Landlord Cover?

Landlord emergency cover is recommended for all landlords, especially those who own multiple properties or properties that are older and more likely to have emergencies. It provides peace of mind and can save you money in the long run.

How to Make a Claim on Landlord Emergency Cover?

If you need to make a claim on your landlord’s emergency cover, you should contact your provider as soon as possible. They will provide you with instructions on how to proceed and may arrange for an engineer to visit your property to assess the emergency.

How to Compare Landlord Emergency Cover Providers?

When comparing landlord cover providers, consider the following:

1. What is covered: Make sure the cover includes the emergencies you are most likely to face.
2. Limits and excesses: Check the limits and excesses to ensure they are reasonable and affordable.
3. Reputation: Research the provider’s reputation and customer reviews to ensure they are reliable and trustworthy.
4. Price: Compare the prices of different providers to find the best value for money.

What are the Alternatives to Landlord  Cover?

If you don’t want to take out landlord cover, there are a few alternatives:

1. Self-insure: You can set aside money each month to cover emergency repairs and alternative accommodation.
2. Home emergency cover: You can take out home emergency cover, which covers emergencies in your own home as well as your rental property.
3. Comprehensive Landlord Insurance: You can take out comprehensive landlord insurance, which includes emergency cover as well as other types of cover, such as property damage and liability coverage.

What are the Risks of Not Having Cover?

If you don’t have landlord emergency cover, you may face the following risks:

1. Unexpected costs: Emergency repairs can be expensive, especially if they occur outside of business hours.
2. Tenant dissatisfaction: If you don’t provide emergency cover to your tenants, they may become dissatisfied and look for alternative accommodation.
3. Legal risks: If you don’t take reasonable steps to ensure your property is safe and habitable, you may face legal action from your tenants.

How to Cancel Landlord Emergency Cover?

If you want to cancel your landlord coverage, you should contact your provider and follow their cancellation process. You may be required to give notice and pay a cancellation fee.

What are the Best Landlord Cover Providers?

The best landlord emergency cover providers vary depending on your needs and budget. Some of the most popular providers in the UK include British Gas, PlusHeat, and Direct Line.

Conclusion

Landlord emergency cover provides peace of mind and can save you money in the long run. When choosing a provider, make sure you consider what is covered, limits and excesses, reputation, and price.

If you don’t want to take out landlord emergency cover, consider self-insuring, taking out home emergency cover, or comprehensive landlord insurance. Whatever you choose, make sure you take steps to ensure your property is safe and habitable for your tenants.