Much like normal home insurance, this is going to cover the structure of your 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 which is damaged.
If you own a property, you will probably 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 also cover contents that belongs to the landlord. This normally includes furniture and large appliances. If the tenant wants to insure their personal possessions, then they can take out their own separate contents insurance policy.
What other risks do you have to protect against?
Getting cheap landlords insurance through BusinessInsured.co.uk can take away a lot of the hassle, but you will need to think about what other risks you need to be protected against. Buildings and contents are the essential things you need covered, but landlords insurance can also protect you against other unexpected costs.
If the house is damaged and you need to re-house your tenants elsewhere for a while, you can recover the costs through your insurance. It will also help cover the money you lose when the tenant is not paying you rent due to your damage.
If there is a long period of time between one tenant leaving the house and a new one moving in, landlords insurance will 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 will be detailed in the policy itself.
Compare Landlord Insurance Quotes:
If you compare landlords insurance with us, make sure you study the details of all the quotes so you can make the best choice.
What’s not covered:
Contents cover will only cover the theft of the landlords property when someone has broken into the property. If a tenant takes some furniture or even some of the fittings with them when they leave the property, 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 have to choose an excess. Which means you will be required to pay the first few hundred pounds of any claim.
Landlord insurance is designed to cover you for long-term occupancies. It may not suit you if you are letting out a holiday home or if your property is unoccupied for a long period.
Maintaining your property:
You will have to keep your property in good condition and comply with a number of measures if you are to get the best out of your landlord insurance.
Some insurers may insist on a number of things, including having the boiler serviced annually by an engineer who is on the Gas Safe Register (formerly Corgi). You should also carry out routine checks of your building and carry out the relevant maintenance work to insure that the structures of your building are up to standard.
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If you are working for a company or you own a company, insurance is important. Landlord Insurance are a couple of the main types available. You never know when you may need to make a claim for an injury at work.
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