The most important component of landlords Insurance is the building to be insured. Depending on the provider the building may include fixtures and fittings, attached outbuildings, garages, garden walls, fences and gates. The perils you are usually insuring against are fire, flood, weather, subsidence and malicious damage or vandalism caused by tenants.

During the quotation process, it is normal for the applicant to be asked for the Buildings Sum Insured. What is this? Well, this is the cost to rebuild your property in the event it is completely destroyed and is not to be confused with the market value of the property. The Association of British Insurers who represent the vast majority of Insurance Companies in the UK have produced a Buildings Sum Insured Calculator which helps those who require assistance in working out the correct sum insured for their building.

Some policies offer buildings accidental damage cover as an optional extra. This applies if you accidentally damage the building, examples of this may include a do it yourself job that goes wrong.

It is worth noting that all landlord insurance policies will insure buildings up to specified limits. These are normally sufficient in most cases, however, ensure this is adequate.