Landlord Insurance for Retired Tenants

Ashburnham provide instant quotes for landlords letting to retired tenants. Flexible, comprehensive, and cheap landlord insurance for retired tenants can be hard to come by, but with Ashburnham, you can choose the level of cover you require using our online policy form. Just make sure that under Occupancy Details, you select “Retired” as a tenant type.

What does landlord insurance for retired tenants cover?

The most popular type of landlord insurance is buildings cover, which protects your most valuable asset: the property itself. But we have a range of different types of cover available to build a bespoke package, tailored to your exact requirements.

Buildings

Covers the financial cost of repairing a property’s structural damage. We cover both accidental and malicious damage as standard, in addition to environmental damage (e.g. flooding, storms, etc).

More about landlord buildings insurance

Contents

Recommended for furnished properties, this will protect the landlord from the costs of repairing and replacing furnishing that have been stolen or accidentally damaged by tenants.

More about landlord contents insurance

Malicious Damage

Covers the intentional damage caused by the tenant or any other malicious persons to the landlord’s property.

More about malicious damage by tenant cover

Rent Guarantee

Covers loss of rent by guaranteeing monthly rent payments for a maximum of 6 months in the event that a retired tenant is in arrears and temporarily unable to pay due to their financial circumstance.

More about loss of rent insurance

Public Liability

Indemnifies the property owner against liability if a retired tenant, guest or member of the public is injured on the premises, including cover from the financial costs of any claims made due to negligence.

More about landlord public liability insurance

Legal Expenses

Indemnifies the expenses in pursuit or defense of any disputes connected to a landlord’s property that require legal protection.

More about legal expenses insurance

Landlords with Retired Tenants

Over the past few years, there has been a surge in retired renters but the number of landlords letting to retirees has been decreasing. According to research, a quarter of retirees live in rented accommodation, with over 40% of renting retirees having previously owned their own home. By selling up and choosing to rent, they are able to supplement their retirement income and pay off any existing debts.

By targeting the retired demographic, you may be able to reduce your void periods as well as enjoy long-term tenancies. Where some young people are more inclined to move more frequently for career or lifestyle changes, the retired community tends to be a stable and reliable choice for many landlords.

Elderly households can make ideal tenants to let to, as they tend to live quiet lives and have a reliable, static stream of retirement income to pay their rent. This static income, however, can be a disadvantage should you ever find yourself needing to raise the rent to cover the mortgage payment.

Generally, landlord insurance for retired tenants is comparable to standard professional lets in terms of premiums, but rates may differ slightly between companies and your particular situation.

Get a quote now, or give us a call to discuss your insurance requirements in more depth!

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