Landlord insurance is not generally a legal requirement in the UK, but your mortgage lender may require suitable buildings cover, and ordinary home insurance may not cover letting to tenants. A policy can protect against risks such as property damage and landlord liability, while optional cover may include loss of rent, legal expenses or rent guarantee. The cheapest policy may have important exclusions, higher excesses or lower limits, so compare the cover as well as the price. Check the terms with an FCA-authorised insurer or broker and review any mortgage requirements.