Not only for your peace of mind, but to ensure you are doing everything to protect the people renting your property (tenants).

There are two main branches of insurance a landlord needs to consider…

• Building Insurance
• Contents Insurance

Building Insurance

This form of insurance will cover a landlord for any damage to the actual bricks & mortar structure of house whilst a person or persons are renting it. It is quite common for most mortgage lenders to require you have this type of insurance.

This form of insurance can cover you for the wide range of damages that could occur to a home. Considering that a rented home is at more risk according to lenders, this includes the following:

• Vandalism
• Theft
• Subsidence
• Water or oil damage
• Draining or heating damage
• Storms, floods and fire damage
• Earthquake damage
• Road traffic damage (cars accidentally striking the house

Contents Insurance

This focuses on the inside of the home and covers damage to any contents owned by the landlord. Although the landlord is not under any obligation to have this insurance, it is highly recommended, especially if you provide furnishings such as couches, curtains, carpets, wardrobes, beds and tables etc.

Also, be advised that any contents belonging to the tenants are their own responsibility.

Damage may include:

• Fire, flood or explosion damage
• Earthquakes
• Water damage resulting from burst piping
• Criminal damage by malicious persons
• Tree/branch damage
• Accidental breakage/droppage

Additional insurance policies for landlords

As a landlord, it’s an unfortunate truth that you cannot place trust blindly in your tenants. This is why there are other forms of insurance you might want to consider looking into.

• Rent guarantee insurance – If a tenant is unable or unwilling to pay the rent, this policy will cover the loss of money and ensure you still get paid.
• Public liability insurance – If a tenant injures themselves in your home, they may decide to hold you liable for any costs. This cover will protect you against possible expenses, legal costs and even damages which could be awarded to said tenant.
• Legal cover – On the flip side, if you need to take your tenant to court due to something they are liable for, then this policy can cover any legal expenses you could incur.

Contact Daryl or David at Total Peace of Mind on 0800 021 3945 to discuss this and any other insurances in more details.