Today I want to talk to you about landlord insurance.
I hear you say;

“Well do I really need it? I’ve got apartment cover as part of my leasehold, I don’t really need to have anything else.”

Stop there!
Let’s break this all down.

On a house, you are supplying a property. Therefore you need to insure the four walls and the roof, so you need landlords buildings and contents insurance to make sure that it is fully covered.
You want landlord’s cover, not personal cover, because the landlord policy is to cover you for any damages that are caused by your tenant.

Now with regards to this, you obviously need to make sure that the four walls could be rebuilt, and the flooring can be done.
If you tip that house upside down, what would come out?
The kitchen,
The bathroom,
Carpets,
Wardrobes,
Anything else that you have fitted, that you have supplied your tenant.

You need to make sure it is insured.
Therefore you will need contents insurance.

If you are renting out an apartment, then necessarily your building’s insurance is covered as part of your service charge, so you don’t need to worry about that.
But you do need to make sure that the details of the policy are covering you for any mishaps.

You would also still need to have contents insurance, again if you tipped the apartment upside down what would fall out? You’ve got carpets, you’ve got sofas if you’re supplying it furnished and any other necessary things in the property.
You need to make sure these are fully covered to avoid any nasty mishaps that may happen.

Also this means if the tenant’s deposit doesn’t cover the damages, you are also fully protected with regards to your insurance claim because you have got a landlord’s policy.

If you would like to know more, please contact me
Danielle Withers-Brown,
Lettings Director at Inspired Sales and Lettings,
Where we’re with you every step of the way.