Landlords insurance online

There’s a lot to think about before a property can be let, especially for the first time. You will probably need to some decorating and DIY, as well as ensuring that the house conforms to regulations and safety standards. You will also need to look for suitable tenants and drawing up contracts that protect you if anything goes wrong in the future.

One thing that mustn’t be forgotten is insurance and with everything else that you have to think about, it is probably most convenient to research and buy landlords insurance online. Even if the house is already insured under a standard policy, it won’t be sufficient cover for when it is tenanted. The standard policy will be invalidated if you aren’t living in the house and you will need additional protection that the extra elements of a landlord insurance policy will provide.

A landlord has different needs to a homeowner who occupies their own home and landlord insurance policies take this into account. An example of this is the structural damage element; a standard policy will cover for fire or floods but a landlord’s policy will also include cover for any malicious damage.

However thorough your process for selecting tenants is, the truth is that you don’t know your tenant and if they deliberately vandalise the house, you will be able to submit a claim if you have a landlords insurance policy; The policy also needs to include such things as fitted bathrooms, kitchens and wardrobes.

A Landlord’s policy for contents covers any of your own furniture that remains in the property; this may include curtains, carpets and white goods, but do check your specific policy details as they differ between insurers and underwriters.

It isn’t likely that a landlord insurance policy will cover your tenant’s belongings but again this needs to be double checked and you should let your tenant know whether or not they need to purchase a policy which will provide them with cover for their own possessions.

The most efficient and cost effective way of discovering exactly what coverage is available and deciding which policy is most appropriate to your needs is by researching and landlords insurance online. Landlord buddy makes an excellent place to start.