Landlords insurance can be a complicated area and there are many frequently asked questions, the main one of these being "why do I need it?" Landlords insurance is critical to first time landlords as well as those who are more experienced. This type of insurance protects the property you own against damages and meets the liabilities and risks you and your property may face when renting it out.
Another question asked is "what type of cover should I take out other than buildings insurance?" There are several main types of landlords insurance that you should have, these are contents, rental income and engineering cover.
Endsleigh’s Landlord Insurance
The latter of these includes any heating, air conditioning, lift and ventilation work that maybe required on the property. Liability insurance is also an essential cover for any landlord. Companies such as www.endsleigh.co.uk can offer you the insurance that you need.
It is often questioned whether contents insurance is needed for any landlord with a furnished or part furnished property. This very much depends upon what you are leaving in the property, for part furnished properties it is often not required as such items as curtains, carpets and domestic appliances are included in the buildings insurance aspect of landlords insurance.
If you are leaving furniture in the property you can take out additional cover to include accidental damage. This works in the same way as your accidental damage on your home insurance, a clear example of this is if your sofa is damaged during a party, under standard contents insurance you would not be covered but with accidental cover you would be.
Another important question is if landlords can insure more than one property under the same policy. Many insurance companies do provide a multi cover policy which allows you to insure a number of properties on the same policy. Not all policies allow you to do this so it is important to check this option is available before you buy.