Landlord contents insurance ensures that any items that you own in the rental property are covered.
You will often find that it is an optional extra on landlord buildings insurance policies, but is also available as standalone cover.
However, when you are looking for this type of insurance there are various questions that you should ask.
Do I need contents insurance as a landlord? What should I look for when comparing landlord content insurance? And where should I go to buy it?
Do I need contents insurance as a landlord?
Landlord home and contents insurance is normally recommended if you let your property on a furnished or semi-furnished basis.
If items that you own remain in the property, you should consider cover. Such items may include sofas, chairs, dining tables, beds, carpets, white goods (washing machines, fridges, dishwashers, freezers etc) and curtains.
Landlord contents insurance ensures these items are protected against theft, flood, fire and other risks allowing you to have peace of mind when having someone you may not know living in your property.
What to look for when you compare contents insurance for landlords
If you want to ensure your contents are protected, you should consider contents insurance. However, not all policies are the same.
When you compare contents insurance for landlords make sure you consider the following:
1) The amount of contents cover that is included with the policy.
While some landlord contents insurance policies have unlimited cover, most have a limit of anything between £10,000 and £250,000. Choosing a lower level of cover may help to reduce your premium but be careful not to end up underinsured, if you know the goods you have in the property is worth more than the maximum that you could claim, consider finding a policy that offers you cover for all the goods.
2) Whether accidental damage cover is included.
This ensures the contents of your rental property are insured against accidental damage
3) The policy excess
This is the amount of any claim you pay yourself. Always make sure you know what the contents insurance policy excess is. A higher policy excess may make your cover cheaper but it means you will have to pay more if you make a claim so you need to set it at a level that is affordable so if you do have to pay out you aren't left in a sticky situation.
Make sure you compare buy to let insurance
Before you buy it's important to compare the costs and benefits of landlord content insurance from the leading insurers.
Remember that you shouldn't just focus on price when you make your landlord insurance comparison.
Instead you should compare the features and benefits of each policy as discussed above. This means you can make an informed choice about which is the best landlord contents insurance policy for you and ensure that you have cover for everything you need.