Press releases

Legal & General launches new Landlords' Multi-Property Insurance.

Malcolm Cooper - Underwriting Director - Legal & General Insurance
Malcolm Cooper
Underwriting Director
Legal & General Insurance

14 April 2011

Malcolm Cooper - Underwriting Director - Legal & General Insurance
Malcolm Cooper
Underwriting Director
Legal & General Insurance

This new insurance provides a range of cover options for landlords with one or more properties, to suit their different needs for a single premium.

The one common renewal date and a single policy summary, makes the administration much easier, plus, there is an automatic discount for those landlords with multi properties. A discount of 5% is applied to a portfolio of two rental properties, rising to a 10% discount for those landlords with over 20 properties in their portfolio.

The comprehensive yet flexibly designed Landlords’ Insurance has a 4 star rating by Defaqto and the quality support means that claims are dealt with quickly and efficiently. Cover includes:

  • Building insurance cover is available for up to £800,000 as standard, although an option to choose a specific sum insured is available if required;
  • Contents cover is available for household goods, furniture and soft furnishings provided by landlords as well as legal liabilities up to £2 million and loss of metered water up to £1,000;
  • Optional accidental damage and malicious damage, offers landlords cover for accidents and damage caused by tenants;
  • Optional legal expenses and rent guarantee cover provides up to £50,000 towards legal costs if a tenant breaches their tenancy agreement and up to £2,000 per month for up to 12 months for unpaid rent. Squatters cover is automatically included as part of this option to help in the negotiation of the legal right to evict anyone who is not a tenant or who does not have permission to be in the property.
  • Up to £40,000 towards loss of rent or alternative accommodation for a tenant;
  • Home emergency cover of up to £150 is included as standard under buildings cover.

Malcolm Cooper, Product, Pricing and Underwriting Director at Legal & General’s general insurance business commenting on the new product said: “We believe our new Landlords’ Insurance will enable advisers to take advantage of the growing opportunities that we believe the buy to let market presents. The flexible, yet comprehensive cover will help ease the financial and administration worries for those clients who are existing landlords as well as those considering building a portfolio of buy to let properties.”

Malcolm continued: “Fuelled by the appeal of rising house prices, investors bought rental property as a safe haven for their future with the number of buy to let mortgages rising to a peak in 2008 of 1.15 million. However, the rapid rise in house prices meant that many first time buyers are still priced out of buying a home. In addition, more stringent lending criteria, with higher deposits means that many potential buyers are staying in rented accommodation. This is increasing the demand for rental property and is predicted to return to the level in 2008, by 2012/13.”

“With landlords wanting to protect their property investment, we estimate that the current landlords’ insurance market will grow steadily to over three million policies by 2013. A significant business opportunity, not only for those advisers who are already selling buy to let mortgages and landlords insurance but also for those advisers who’ve not considered this market before. Now is a great time to start.

For those who already arrange household insurance, then we believe our Landlords’ Insurance is a valuable additional service that they can offer which will potentially help them to retain and build their client base in the future.”

For more information on Legal & General’s new Landlords’ Insurance, advisers should visit the special website at or contact their normal Legal & General representative or email

Notes to editors

Sources for market data used in this release is based on info from the Council of Mortgage Lenders (CML) and Legal & General research, conducted by White Space, in March 2010.

  1. The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Details of the home insurance products offered available to customers may be found at or by calling 0800 0279833. We may record and monitor calls. Lines are open 8am to 8pm Monday to Friday and 9am to 5pm Saturday and Sunday. Alternatively, consumers should speak to their insurance adviser to check they have adequate cover in place.
  2. Legal & General Insurance Limited is authorised and regulated by the Financial Services Authority (FSA).

For more information please contact:

Berni Ryan

Berni Ryan
PR Manager

t: +44 (0) 1737 375369
m: +44 (0) 7788 926790

About Legal & General

Legal & General Insurance Limited.

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Registered in England. Registered Number: 423930