Tenant Damage: What’s Covered Under Landlord Insurance?
As a landlord, keeping your property in suitable condition can often be a surprisingly stressful concern. After all, damage to your rental property can be costly to repair and can make it difficult to attract new tenants. Since most damage typically comes from residents, this raises an important question: does landlord insurance cover damage caused by tenants? Our rental property insurance experts are here to explain.
The Difference Between Damage and General Wear and Tear
Understanding the difference between damage and general wear and tear is essential for landlords.
General wear and tear refers to the natural deterioration of a property due to everyday use. For example, faded paint, worn carpets, or minor scuffs on walls are usually considered wear and tear. They’re generally unavoidable as the property is used and should be expected as part of renting out a property.
Damage, on the other hand, refers to harm that exceeds normal wear and tear and is often the result of accidents, negligence, or even deliberate actions by the tenants. Examples include broken windows, holes in walls, or significant stains on carpets.
Landlords need to be aware of this difference as it’s very likely to impact your let property insurance coverage. General wear and tear is rarely covered with landlord insurance as it’s considered an essential part of property maintenance. Damage, on the other hand, is a different matter altogether.
Does Landlord Insurance Cover Tenant Damage?
So, the pivotal question: does landlord insurance cover damage caused by tenants? The answer is generally yes. However, it depends on the policy specifics. Standard landlord insurance policies often cover malicious damage by tenants, such as vandalism or intentional destruction of property. In some instances, however, accidental damage may not be included.
It’s always important to check the exact details of your insurance policy, and if in doubt about the coverage needed, seek specialist advice. At Higos, our rental property insurance experts will work with you to understand your exact requirements before tailoring a suitable package based on your needs. That can include a basic policy or more comprehensive cover, and everything in between.
Does Landlord Insurance Cover Pet Damage?
Pet damage is another concern for many landlords. Usually more significant than general wear and tear, pet damage can include anything from chewed or torn carpets, stains or odours, or scratches surfaces around the property. These are not considered part of the normal aging process of a property and typically result from specific actions by pets.
Bearing this in mind, the answer to the question “Does landlord insurance cover pet damage?” is less straightforward. Some policies may include coverage for pet damage, while others don’t. In short, it’s important once again to check your policy details, or consider a tailored policy that includes pet damage if you allow tenants with pets.
Who is Responsible if the Damage Isn’t the Tenant’s Fault?
It’s worth bearing in mind that not all damage to a rental property will be caused by tenants. Storms, flooding, burst pipes, or structural issues will usually have no one to blame, yet can still result in significant damage.
In such cases, the responsibility for repairing these damages will most likely fall on the landlord. Fortunately, landlord insurance can be a lifesaver in these situations. Standard let property insurance will typically cover these types of incidents, ensuring that landlords aren’t left out of pocket for repairs.
The Importance of Tailored Landlord Insurance
As we’ve touched on already, having a tailored landlord insurance policy is vital for adequately protecting your rental property. A bespoke package will ensure your specific needs as a landlord are met, covering a range of scenarios that standard policies might not address. For instance, this can include coverages such as loss of rent, accidental damage, legal expenses, as well as damage caused by pets.
At Higos, we understand that every rental property is unique, and so are the risks associated with it. Our tailored rental property insurance solutions provide comprehensive coverage designed to protect your investment from a variety of damages. For more information, get in touch and we can provide a no-obligation quote.
If you’re looking for help with your let property insurance or would like a quote, give our friendly team a call on 01458 270324. After all, for protecting your rental property and having peace of mind for your investment, it has to be Higos.