Compare Overseas and Non Resident Landlord Insurance Quotes
Cover for all types of Overseas and Non Resident Landlord Insurance properties including ex-pats, One short form – save time & money
Guide to Landlord Insurance For Non-UK Residents
There are several reasons why, as a non-residential landlord, you might have to oversee your rental property in the UK while living abroad. Whether you're an expat landlord or temporarily residing abroad, it's crucial to safeguard your investment and tenants with overseas landlords or non-resident landlord insurance. This will enable you to continue living out of the country while earning rental income from the UK property
Who qualifies as a non-resident landlord?
A non-resident landlord is someone who owns property in the UK and rents it out but lives overseas for more than six months in a tax year.
If HM Revenue and Customs (HMRC) determines that a landlord's primary place of residence is in another country, even if they still have UK tax residency, they are considered a non-resident landlord.
This category includes:
What are some of the challenges non-resident landlords often encounter?
Renting property to tenants can be a profitable source of income, but it also carries certain risks, especially when you are out of the country.
Despite careful occupant selection, accidents and issues can arise, and landlords should be aware of the following such challenges:
What are the common components of non-residential Landlord insurance coverage?
In the UK, Landlord insurance policies can differ between insurers, but they typically provide coverage for damage to your property resulting from events like fires, floods, storms, falling trees, theft, and vandalism.
Following are some of the main types which you can get:
Landlord Contents Cover
This includes contents cover for damage to the furniture and items you provide in the rental property, such as carpets, curtains, tables, chairs, and sofas. You don't need to insure your occupant belongings; they are responsible for their own possessions.
This covers legal fees and compensation if someone, like an electrician, tenant, or their guests, incurs injury or has their property damaged due to issues with your property. For instance, if a tenant trips over a damaged floor and gets injured.
Unoccupied Property Insurance cover
This property is for times when your property is empty or not occupied by tenants. Having
Additionally, you can often customise your landlord insurance policy with optional cover such as:
Rent Guarantee Insurance
This compensates you for the lost rental income if your tenant stops paying due to an insurable event, like a fire or flood. It's sometimes called tenant default insurance, but it might have conditions, like requiring tenant credit checks and having compensation limits.
Loss of Rent Insurance
This coverage helps when your tenant has to move out due to property issues, like damage from a fire. So, If you find yourself unable to collect rent from a tenant due to such a situation, this
Is it mandatory to have non-resident landlord insurance for uk property?
No, there's no legal requirement for expat landlords to have a specific insurance cover for their rental property. However, standard home insurance doesn't provide coverage for rental activities. If you have a mortgage on your property, it's highly probable that your lender will insist on insurance before you rent it out.
Also, having non-residential landlord insurance can provide peace of mind, especially for landlords living abroad. It assures you that your properties are protected, and you won't need to worry about unexpected costs or issues, knowing that your investment is in safe hands.
If you are a Landlord living outside the UK, the ideal landlord insurance policy is the one that fits your unique requirements. It's advisable to create a list of essential features you need before you begin comparing policies or checking out for a flexible cover. This approach ensures that you can confidently select an insurance policy that provides comprehensive protection tailored to your needs.
How much does non-resident Landlord insurance typically cost?
It's challenging to provide an exact cost for landlord insurance since policies vary. While it might be tempting to opt for the cheapest cover based solely on price, it may not be the best long-term decision. The key factors that go towards arriving at expat landlord insurance quote include:
Who provides Expat Landlord Insurance?
Need help working out the Weekly Rental amount?
Easily convert weekly rent to the equivalent monthly rent and monthly rental to weekly rent with our easy-to-use rent
Do you need overseas Landlord insurance if you are renting out a Flat?
If you're renting out a flat, the situation is similar to renting out a house. Generally, you'll need overseas landlord insurance rather than standard residential home insurance to protect your properties if you are living overseas.