20 August 2025

5 Things to Check Before Renewing Your Rental Insurance Policy

By Holly Hamer Freelancer
A hand holds a key with a wooden house-shaped keychain above a modern living room with brown furniture.

Whether you’re a seasoned landlord or just coming to the end of your first year, renewing your rental insurance policy isn’t something to do on autopilot. Property risks and legal obligations shift over time and so should your insurance. Before you hit “renew,” make sure you’ve reviewed these five essentials.

1. Is the Rebuild Cost Still Accurate?

Your insurer does not cover the market value; they cover the rebuild cost. With inflation and rising construction costs, the amount it would take to rebuild your property in 2025 may have changed.

 Check:

  • Your current rebuild cost vs today’s rates
  • Whether your insurer offers automatic inflation protection

Tip: You can use the BCIS Rebuild Calculator or hire a surveyor for an accurate figure.

Link: BCIS Public Rebuild Calculator

2. Have You Made Any Renovations or Layout Changes?

Updated the kitchen? Added a new bathroom or garden office? These can increase the value and risk of your property so failing to report them could invalidate your cover.

Check:

  • Have you notified your insurer of any major changes?
  • Do you need to update the contents cover or liability protection?

3. Are You Covered for Loss of Rent?

If your tenant needs to move out due to fire, flood, or structural damage, loss of rent insurance covers you during the void period. Not all policies include this as standard.

Check:

  • How many months’ rent would be covered?
  • Does it apply if the property becomes uninhabitable?

Tip: Look for policies that also cover alternative accommodation for tenants, it’s a sign of comprehensive cover.

4. Have You Changed Tenants or Letting Type?

Switching from long-term tenants to short-term lets (like Airbnb), or renting to students, DSS tenants, or multiple unrelated tenants (i.e., an HMO), can impact your insurance eligibility.

Check:

  • Does your insurer need to know about tenant changes?
  • Are HMOs or short-term lets excluded from your policy?

Tip: If you’ve restructured your tenancy type, call your insurer before renewing, don’t assume that you’re still covered.

5. What’s your excess and what are you actually protected against?

It is easy to focus on price, but cheap premiums often come with high excesses or missing features like:

  • Legal expenses
  • Emergency call-out cover (e.g. plumbing, pest control)
  • Or it could even mean you are underinsuring (which isn’t advised)

Check:

  • What’s your excess on claims?
  • Does your policy still suit how you use the property?

Tip: If your portfolio has grown, it might be time to move to a multi-property policy to save money and hassle.

A brick house with a sloped roof, two-story windows, and a lush green lawn under a clear blue sky with cloud and bird doodles.

Talk to a specialist at Protect my Let

It is important to remember that insurance isn’t a tick box exercise, it’s your safety net for what is ultimately your business and income stream. Renewing without reviewing it properly could leave you underinsured or uncovered when it matters most.

  • Take 20 minutes to review your policy
  • Pick up the phone and ask your insurer questions
  • Compare quotes if needed

If you are looking to renew your insurance policy or would like to speak to someone about obtaining one, we have partnered with Protect My Let, who can walk you through the process.