Do you require landlord insurance for either a single property or a portfolio of properties? This type of policy is designed for rental properties. This can include different types of insurance. For instance, buildings insurance, contents insurance, rental protection insurance, liability insurance, and unoccupied property cover. As a landlord you will want to protect your assets from the different threats that area around. For example:
- Fire and Theft. Such as, an appliance catching fire could cause damage to the property.
- Damage to the Structure of your building. For example, a large storm could damage the roof.
- Damage to kitchens and bathrooms. Such as, damage to tiles, broken cupboards.
- Furniture and carpets may suffer damage. For Instance, from flooding.
- Unable to rent out the property due to damage. For example, a broken roof.
- Court costs for legal claims
- Vacant periods between tenants
- Damage by tenants that were accidental
- The Boiler on the property may not work
- Rental arrears. For Instance, you may become in a financial situation as a result of rent not being paid.
You can chose to have different areas to your policy, depending what suits you. However, you should always bare in mind that the more areas that you ask for cover in then the higher your premiums may be.