Landlords Contents Insurance

When it comes to landlords contents insurance it is important that you are fully insured from every aspect. So as a landlord it is vital that you don’t just think about covering the buildings but also your contents and also your liability as well.

In today’s market more and more people are allowing their mortgage provider to arrange their buildings insurance for them, as it is a requirement of the mortgage. This is occurring in both the home insurance and buy to let insurance markets. Both home owners and landlords alike have to find their own contents insurance.

Another instance when you would only require to take out contents insurance without buildings insurance cover is when a landlord purchases a flats within a block of residential flats.

For landlords who find themselves in either of these situations or any situation where the require contents insurance without building cover, there is a product called Landlords Contents Insurance.

Many company offer this type of product but will vary greatly in what it covers, terms and conditions, any exclusions or warranties and also in cost.

Most contents insurance policies will cover you for a wide range of perils, which fairly similar to your standard building cover (taken care of by your mortgage lender or freeholder of the property). As well as the perils you will also receive property owners liability insurance cover and this is a very valuable addition.

An example would be your tenant tripping over the carpet you as a landlord own and have had put in place in the property. The law can be very complicated when it comes to sorting out property owner’s liability covered by the building and property owner’s liability cover by contents insurance.

It is best left to an insurance company’s claims department to sort this matter out in the event of a claim, but suffice to say that if you have both buildings and contents insurance will get the correct liability insurance cover.

Without the hassle of having to arrange buildings insurance for the flat that you have purchased, you will have the hassle of finding an insurance company that can insure you for those areas that can leave you vulnerable to losses also. These areas include:

• Contents you have put into the property.
• Loss of rent.
• Your liability as a property owner through accidental bodily injury to any person or damage to property as a result of your contents.

At Insurance Protector we have devised and put together a contents insurance package that we believe top cover all you needs as a landlord seeking stand alone contents insurance for you property.
Insurance Protector can offer, you as a landlord in search of stand alone contents insurance, a package that can cover you for all the things you will need in an insurance policy for a property in which you are required to only obtain cover for any contents. The package will cover you for:

• Up to £10,000.00 as standard (The price will not vary or decrease if you request the sums insured for you contents to be less. The price will increase, however, if the sums insured for your contents is requested to be increased more than the £10,000.00).
• Accidental damage cover on your contents as well as being covered by the standard perils like fire, theft, malicious damage, smoke damage, etc. (Available for professionally tenanted properties only).
• Metered water
• Unauthorised use of electricity, gas or water.
• Cover up to £1,000,000.00 for costs you are legally liable to pay as compensation for accidental bodily injury to a person or loss or damage to property as a result of your contents or amount as stated in schedule.
• Legal Expenses which will cover your legal costs for breach of tenancy agreement, rent arrears pursuit, eviction, legal defence, legal help line and TAX, VAT, PAYE & NIC investigations.

Different policies from other insurers will offer you different levels of cover but generally you’ll be covered for a minimum against theft, fire damage, smoke damage, water damage, malicious damage and have the option to insure against damage caused by the tenant to your contents accidentally.

At Insurance Protector we will cover you for accidental damage automatically in the package and also cover you contents against the following perils a loss may be incurred by: Fire, Explosion, Lightning and Earthquake, Smoke, Riot, civil commotion, strikes, labour or political disturbances, Malicious Acts or Vandalism, Storm or Flood, Water or oil escaping from any fixed domestic appliance or system including any costs in locating the source of any escape, Theft or Attempted Theft, Impact by road or rail vehicles, aircraft or animals and Subsidence, Landslip or Heave.