Multi Property Landlord Insurance

What is multi-property landlord insurance?

When you’re responsible for multiple properties, having several providers and policies to keep track of can prove tiresome. With a multi-property policy, you can manage your insurance cover for up to 10 properties with a single policy.

Multi-property landlord insurance is there for landlords who have more than one property in their portfolio and what to cover them all on the same policy.

There are several benefits to handling your landlord insurance this way – including managing all properties in one place and only having one renewal and payment date to worry about.

Am I required to have landlord’s insurance?

You’re not legally required to have property insurance. However, landlord insurance is a requirement to get a buy-to-let mortgage with most providers, and if you have multiple properties then a multi-property policy could be for you.

What does landlord insurance for multiple properties cover?

Landlord insurance offers cover for several key protections as standard, such as:

• Buildings insurance to help to pay the cost to rebuild or repair your rental property if it's damaged by fire, flood, storm, escape of water etc. This usually includes the structure of the property itself and permanent fixtures like kitchens and bathrooms
• Landlord contents cover protect any furnishings, including your furniture, white goods, electrical equipment, and fixtures provided for tenants to use while living there
• Property owners’ liability cover that provides protection in cases where negligence has resulted in injury or property damage at your property. For example, if a tenant trips over a broken step or a falling tile causes damage to someone else’s property. This coverage helps cover compensation and legal expenses
• Rehousing for your tenants at alternative accommodation if your property can’t be accessed and/or lived in due to damage caused by unforeseen events
• Cables and underground pipe cover for any costs incurred due to damage to pipes or cables – this includes essential utilities e.g., gas, electricity, and water
• Damage to your propery caused by subsidence, ground heave, and landslips is automatically included. Note – some mortgage providers require that this be a part of your landlord insurance insurance
• Trace and access cover the costs of finding the source of a) any damage and repairing it if it was caused by the escape of water from any tank, equipment or pipes, or b) damage to cables, underground pipes and drains providing services to the property

What’s not covered?

Common wear and tear that happens over time, so if the damage to your property is because of natural aging of the building or standard use of the property then you won’t be covered for those types of repairs. Please note: It is the landlord’s responsibility to maintain the property and to cover the cost of any necessary repairs. Landlord insurance will only cover damage following an insurance evet such as an extreme weather event or a break in, for example.

Your tenant's contents aren’t covered by your landlord insurance. Your cover only extends to contents you’ve supplied to a tenant, and you must choose this cover when getting your quote. It doesn’t cover a tenant’s personal contents once they move into your property. If a tenant requires cover for their own items, they will need to purchase renters and tenants’ insurance.

Unoccupied buildings (over 45 days) aren’t covered, so you must let us know if your property becomes unoccupied. Once your property becomes unoccupied, you’ll have 45 days full cover, after which your cover will be reduced and an unoccupancy condition applied. Certain types of damage are excluded if the property is unoccupied.

If you need to protect your rental income, this isn’t included as standard, though you can add it as an optional extra. If your property becomes uninhabitable for any reason – such as fire, flood, or storm – this extra will provide cover for the rental income you stand to lose if your tenants can’t stay in your property for a time.

Glass replacement is not included as standard with landlord insurance but can be added to your policy as an optional extra. This cover would allow you access to a 24-hour glass replacement service to fix things such as broken windows, doors, or partitions.

Can I add more properties to my cover after taking out insurance?

Yes – you can. Once you've gotten a policy with us you can log in your AXA account and add a new property to your policy. You can add a property at any time and your premium will be updated to reflect the new property, and with AXA you can cover up to 10 properties on one policy.

Terms, conditions, eligibility and exclusions apply. Underwritten by AXA Insurance UK plc.