Landlord Home Insurance Cover
As the number of people living in rented accommodation increases the demand for landlord insurance also increases.
This is different to normal home insurance cover and it is essential that anyone contemplating letting out their property considers getting Landlord insurance.
What is important to remember is that the extra income generated by letting your property needs protecting, this is why normal home insurance cover will not suffice as a landlord.
So, how does this kind of insurance differ from home insurance cover? The major difference is that a Landlord's insurance is tailor-made for those who let property as it covers such things as rent default or damage by tenant which would not be included in any standard insurance policy.
One of the most important sections on a Landlord's insurance policy is Liability.
Basically, a third party can claim that negligence of the owner led to death, injury or damage to the property.
This Liability section aims to protect the owner and it is recommended that any suggestions of legal action should be referred to the insurers rather than being dealt with by the property owner themselves.
What is usually included in Landlord's home insurance? This kind of insurance usually incorporates buildings insurance and cover for accidental damage.
You can be covered for contents determined of course, by what contents there are in the property.
In addition, you can insure against loss of rent if the property is damaged.
Other additional cover can include such things as breakdown cover for any equipment in the property.
There is really no one size fits all policy with Landlord's insurance.
Each circumstance is different and the aim of these kinds of policies is to try to insure against any eventuality.
If there is a fire, for example, does the landlord have to provide alternative accommodation for their tenants? What happens if a tree in your garden gets blown over and damages the neighbour's fence? These are the sorts of issues that a thoroughgoing Landlord's policy will cover.
Prices of Landlord's home insurance varies of course, dependent on the location of the property, how much it would cost to rebuild the property and of course the age of the property.
However, as with all insurance nowadays there are plenty of companies offering very competitive prices.
All the major companies offer this kind of coverage as well as specialist companies who work exclusively in the area of Landlord's insurance.
Most of these companies offer advice on their websites and offer information that could answer any queries regarding Landlord's insurance.
This is different to normal home insurance cover and it is essential that anyone contemplating letting out their property considers getting Landlord insurance.
What is important to remember is that the extra income generated by letting your property needs protecting, this is why normal home insurance cover will not suffice as a landlord.
So, how does this kind of insurance differ from home insurance cover? The major difference is that a Landlord's insurance is tailor-made for those who let property as it covers such things as rent default or damage by tenant which would not be included in any standard insurance policy.
One of the most important sections on a Landlord's insurance policy is Liability.
Basically, a third party can claim that negligence of the owner led to death, injury or damage to the property.
This Liability section aims to protect the owner and it is recommended that any suggestions of legal action should be referred to the insurers rather than being dealt with by the property owner themselves.
What is usually included in Landlord's home insurance? This kind of insurance usually incorporates buildings insurance and cover for accidental damage.
You can be covered for contents determined of course, by what contents there are in the property.
In addition, you can insure against loss of rent if the property is damaged.
Other additional cover can include such things as breakdown cover for any equipment in the property.
There is really no one size fits all policy with Landlord's insurance.
Each circumstance is different and the aim of these kinds of policies is to try to insure against any eventuality.
If there is a fire, for example, does the landlord have to provide alternative accommodation for their tenants? What happens if a tree in your garden gets blown over and damages the neighbour's fence? These are the sorts of issues that a thoroughgoing Landlord's policy will cover.
Prices of Landlord's home insurance varies of course, dependent on the location of the property, how much it would cost to rebuild the property and of course the age of the property.
However, as with all insurance nowadays there are plenty of companies offering very competitive prices.
All the major companies offer this kind of coverage as well as specialist companies who work exclusively in the area of Landlord's insurance.
Most of these companies offer advice on their websites and offer information that could answer any queries regarding Landlord's insurance.