What Does Landlords Insurance Mean?

By: Administrator

Landlords insurance is very similar to the normal home owner buildings insurance you would take out on your property. Just like you would insure your home to protect your investment against damaged caused to your property - eg terrorism, through fire, flood or subsidence etc - you would look to protect your buy to let property through landlords insurance.

The whole point of landlords insurance is that you can rent a property out and be confident that despite the fact that you are nowhere near the property and it is effectively in the hands of tenants that you can still guard against most things that could happen to the property. Many landlords insurance assume that their tenants are responsible for insuring contents and for the most part they are. To clear things up tenants are responsible to take out cover only for the contents that belong to them.

So ensure your landlords insurance covers you for contents insurance too - meaning items such as carpets, sofas, chairs and even pictures are insured against theft or damage. Many will cover you to up to £50,000 for your possessions on a new for old basis. You should look for landlords insurance policy that covers you for all possible scenarios such as liability insurance with personal injury claims rising every year, claims against landlords are not uncommon so look for a policy that covers you.

The last of these which is a bit more in depth is the subject of Malicious Damage and Vandalism. Whilst most insurers will cover this under a Landlords insurance policy they will not cover it if any damage is done by the tenant themselves, it is seen that Malicious Damage by the Tenant is a far greater risk as they are always at the property and anyone can lose their temper.
You may want to check out my other guide on cheap van insurance and auto insurance cost

Landlords Insurance

Landlord Insurance

What Does Landlords Insurance Mean?

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