Landlord Contents Insurance

Landlord Contents Insurance Deals

The level of protection provided by your landlord’s contents insurance policy will depend upon the nature of the property you are renting out to your tenants. It is usually assumed that the tenant will pay contents insurance while you will take care of the buildings insurance, but this is not always the best solution to the problem of fully insuring a property.

It is possible to get landlord insurance quotes for a combined buildings and contents policy that may substantially reduce the cost of each from the majority of insurance providers. If the property you are providing to tenants is unfurnished, and will therefore be filled with nothing but the tenants own possessions, you will have no contents to insure. Here you can expect the tenant to look out for their own stuff.

If the property is fully furnished or partly furnished, you will need to give serious consideration to the landlord’s contents insurance policy you are going to be taking out. Some important things to consider are:

• You will need to decide what kind of landlord’s contents policy you need
• Indemnity insurance will take the age of an item and the wear and tear it had sustained into account when making a payment for damage, theft or loss. An example of this would be the way that electronic equipment depreciates quickly in value and what may have been worth £400 five years ago may only be worth £100 now.
• ‘New for old’ policies will replace all lost or stolen items with brand new versions of the same item, but will mean paying higher premiums.

It may be cheaper and easier to manage for both the tenant and the landlord to get a combined contents and buildings insurance policy.