subject: Landlords Insurance For Buildings And Contents. [print this page] Just like normal home insurance, this will cover the structure of the house or flat as well as the units which have been fitted inside. Buildings cover will pay for the cost of changing or fixing anything that is damaged.
If you own a property, you will know that damage can be caused in a variety of ways. This cover will protect you against fire, theft, lightning, vandalism, smoke, burst pipes, oil leaks, storms and subsidence.
Buildings and contents insurance will cover contents that belongs to the landlord. This normally includes furniture and large appliances. If your tenant wants to insure their personal possessions, then they can take out their own separate contents insurance policy.
What other risks do you need to protect against?
Getting cheap landlords insurance through BusinessInsured.co.uk can take away a lot of the hassle, but you will need to identify what other risks you may need to be protected against. Buildings and contents are the basic things you need covered, but landlords insurance can also protect you against other unforeseen costs.
If your house is damaged and you need to re-house your tenants elsewhere for a while, it is possible to recover the costs through your insurance. It will also help cover the cash you lose when the tenant is not paying you rent due to the damage.
If there is a long period of time between one tenant leaving your house and a new one moving in, landlords insurance can pay you compensation for the period when the home is empty. However, there will be a maximum amount of time a landlord will be eligible to receive payments. This would be detailed in the policy itself.
Compare Landlord Insurance Quotes:
If you compare landlords insurance with us, don't forget to study the details of all the quotes so you can make the best choice.
What is not covered:
Contents cover will only cover the theft of the landlords property if someone has broken into the property. If a tenant takes some furniture or even some of the fittings with them if they leave the home, the landlords insurance will not cover these items.
This makes it essential that, before your tenant moves in, you ask them for a deposit large enough to cover such expenses should they arise.
When taking out buy-to-let insurance, you will also be required to choose an excess. Which means you will have to pay the first few hundred pounds of any claim.
Landlord insurance is intended to cover you for long-term occupancies. It may not suit you when you are letting out a holiday home or if the property is vacant for a long period.
Maintaining your property:
You will have to keep the property in good condition and comply with a variety of measures if you are to get the best out of your landlord insurance.
Some insurers can insist on a number of things, like having the boiler serviced yearly by an engineer who is on the Gas Safe Register (formerly Corgi). Make sure you also carry out routine checks of your building and carry out the relevant maintenance work to insure that the structures of the building are up to standard.
by: Stephen Drummonsy
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