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Landlord's Loss of Rent Cover

Loss of Rent Cover

What does loss of rent cover do?

As a Landlord you need to protection for your income as well as your property.

Loss of rent cover protects you and your income in the event that your tenants have to move out after an insured event such as a flood or fire.

Loss of rent cover can protect your loss of income and the additional costs of arranging alternative accommodation on your tenants' behalf.

Why do I need loss of rent cover?

In some cases landlords are contractually obliged to provide alternative accommodation for the tenants so you could face the cost of rehousing your tenants if your property becomes uninhabitable.

Demands for your mortgage payments don't stop when your income does. So if you're a buy-to-let landlord with a mortgage to think about, it's important that you find landlord insurance that can help you through periods of loss of rent and spare you the agony of losing the property altogether.

Also some Mortgage lenders require rent loss insurance on any rental properties they've financed. So it's worth checking the details of your buy-to-let mortgage to ensure you have levels of cover you need.

When should I claim?

In the event of an insurable incident, for example fire or flood where your tenants can no longer stay in the property.

Keep in Mind

Online policy is underwritten by RSA Insurance Group PLC.
Insurance covers are subject to the individual terms, conditions and exclusions of the insurer providing them. Always review the policy documentation supplied during the quote process to ensure you have the cover you need.

Other insurance covers available for landlords

Other insurance covers available for landlords
Type of cover	What is covered
Type of cover Accidental Damage	What is covered Accidental damage to the building and its fixtures and fittings. For example, if you or your tenants accidentally smash a window or drop something and crack a sink.
Type of cover Buildings	What is covered If your property is damaged and has to be repaired or rebuilt due to an insured event such as vandalism or storms.
Type of cover Landlord's Contents	What is covered Household items that you have provided for your tenants, such as soft furnishings or appliances, if they are damaged or destroyed by an insured event.
Type of cover Subsidence, Landslip and Heave	What is covered Damage to your property as a result of a movement in the ground supporting your property.
Type of cover Property Owner’s Liability	What is covered You are protected if a person is injured or if there is damage to their property as a result of your negligence.
Type of cover Employers' Liability cover	What is covered You are protected if an employee is injured or dies as a result of your negligence.
Type of cover Legal Expenses	What is covered Your legal expenses in proceedings such as contract disputes, debt recovery and evicting squatters.

Important Information expandable section
Information you'll need to provide

Whether you ask for a landlord insurance quote online (1-5 properties), need advice or have complex requirements (6+ properties), you'll need the following details to hand:

Details of the property/properties to be insured

Any claims you've previously made on the same property/properties

Any security protection at the property/properties

If you're a business, how many employees you have and what kind of work they do.

Keep in mind

Standard home insurance won't cover the extra risks you face as a landlord. For example, if a tenant is injured by a falling roof tile at your property or if a flood means your tenants have to move out for a while at your expense.

The small print

Please check you have all the cover you need by reading the policy documentation carefully (this will be provided during the quoting process).

Important legal information

Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).

Telephone calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help us improve our quality of service.

Lloyds Bank plc is an introducer to Arthur J. Gallagher Insurance Brokers Limited who arrange and administer Lloyds Bank Business Insurance Services and source products from a panel of insurers.