Landlord insurance - what causes the most landlord claims?

To keep properties safe from damage and protect earnings, landlord insurance is relied on. Depending on the type of insurance that gets taken out prices may vary and the assets that it protects will differ.

A recent market analysis by Total Landlord Insurance reveals the most common reasons why landlords submit insurance claims.

This data can be used to help landlords better understand the importance of having reliable insurance to cover assets.

Most common and expensive insurance claims

Water can escape the home for several reasons, these could include a burst pipe, leaking toilet, or a faulty washing machine connection. Leaks within rental properties accounted for 35.5% of claims.

Storms were the second most common reasons for insurance claims as these totalled 22.4% and accidental damage accounted for 13.1%.

On average, landlord insurance claims can result in a payout of £6,512. The average claim for storm damage totals £11,568, making it one of the most expensive insurance claims. 

Melissa Choules, lead claims technician at Total Landlord Insurance, commented: “When it comes to insurance claims, the reasons for claiming are often either common or costly. The most common generally revolve around damage caused to the property, such as water damage. Therefore a claim can often be avoided if a landlord takes the correct steps to care for and upkeep of their property.”

“Unfortunately, the most costly are often out of their control and there is no real way of preventing damage as a result of storms.”

“Whether it’s a common or costly claim, landlords need to have confidence that their insurance provider is going to be there when they need them the most and that, in any reasonable circumstance, will payout an appropriate amount of money in order for the landlord to completely fix whatever damage has been caused.”