You may not think that having contents insurance is something you need to consider as a landlord, but if you have white goods, expensive bathrooms, or are renting the house out furnished, is it something you should really consider.
If you are the owner of a leasehold flat, insuring the fabric of the building itself and any maintenance costs would legally fall to the owners of the entire building – so not you, as the landlord.
Owning the house as a whole means that you as the landlord have to look after the building and that's where landlord insurance comes in.
If you have inherited a property, contents and all, you may wish to leave the fixtures and fittings bequeathed to you for the benefit of your tenants, as an added selling point of the property, and that's where contents insurance comes in.
Even as the owner of a building in its own right, you may have not considered the cost of repairing damage to rugs, laminate or linoleum floors, for example, or the replacement of locks should a tenant lose their key or try and change them for any reason.
Whatever your circumstances, there will be times as a landlord that you need to make sure the contents inside a rental property are protected, however sparse those items may be. The cost of replacing white goods, furniture, and other homewares you may have left in place for your tenants to enjoy can be minimal on their own but have the potential to mount up significantly.
Landlord contents insurance can help you with all of the above, as one of the most bespoke landlord insurance policies on the market.
Sometimes packaged alongside your landlord buildings insurance, it is also available as a stand-alone policy for all kinds of reasons, some of which have been outlined in this guide, contents insurance supports the loss or damage of any fixtures or fittings which aren't part of the fabric of the building itself.
These can include items damaged by fire or flooding, or those lost through theft, as well as belongings taken or broken by tenants themselves. As a general rule, content insurance does not cover routine wear and tear through the use of goods by those living within a property, or any items owned by tenants themselves.
As mentioned, the individual requirements of contents insurance varies hugely from landlord to landlord, depending on whether a property is let part or fully-furnished, and the level of policy cover available is therefore widely varied too.
Protect Your Bricks can help you carry out a thorough and market wide landlord contents insurance comparison search to make sure all your specific needs are covered, at a fair price affordable to you.