If you don't have landlord insurance, you're financially exposed to risks such as property damage or liability claims from tenants. In the event of a fire, flood, or tenant injury, you could face substantial repair costs or legal fees. Additionally, some mortgage lenders may require you to have insurance as a condition of your loan. It's wise to consider getting insurance to protect your investment and financial stability. For tailored advice, consult a regulated insurance broker or the official gov.uk website.