Low Cost Landlords Insurance For Buy To Let
If you have buy to let insurance or a standard landlord policy in place, whatever the type of property or however many properties it is worth making sure that it includes adequate landlords contents insurance, regardless of whether the property is partly or fully furnished.
It might be tempting to risk not taking out Landlords Contents Insurance on your rental property in the questionable belief that nothing bad may happen. But if you don’t take out any cover and something does happen to the contents of the property, then you could well find yourself out of pocket to the tune of thousands of pounds.
It is also well worth bearing in mind that the average deposit provided by a tenant (which is usually only one month’s rent), would go nowhere near covering the cost of replacing the contents of the property if anything were to happen to them.
Contents Insurance is not a legal requirement in the UK but by taking out adequate cover you are not only protecting the contents of your rental property but also giving yourself peace of mind. If the worst does come to the worst and you do need to make a claim on your Landlords Contents Insurance policy you won’t have to worry about having to pay to replace those contents yourself.
You should take out Contents Insurance to cover items you own such as furniture, televisions, electrical equipment such as vacuum cleaners, fridges and washing machines, curtains, carpets, etc, in case they become damaged or are stolen. You can obtain contents cover ranging from £5,000 to up to £50,000 on a new for old basis with most types of Landlords Insurance.
Landlords Contents Insurance can protect you from a wide range of incidents, including:-
* Fire, Explosion, Lightning and earthquake
* Flood, storm or tempest.
* Subsidence, heave or landslip.
* Water or oil escaping from any fixed domestic appliance or system
* Theft or attempted theft.
* Smoke damage.
* Impact by animal or vehicle.
* Falling trees, lamp posts or telegraph poles.
* Aircraft, other flying equipment or any items dropped from them.
* Malicious act or vandalism damage.
A wise landlord needs to make sure that they protect their rental property contents by taking out Landlords Contents Insurance. However much as we might like to think that bad things only happen to other people, unfortunately that’s not always the case and it’s a lot better to be safe than sorry!
