How many types of landlord insurance?

There are two main types of landlord insurance, landlord contents insuranceand landlord building insurance.
I will first discuss the landlord contents insurance which is designed to protect the landlord’s contents in a property. These can be a wide range of contents ranging from beds to sofas to decoration pieces to carpets and rugs. This is the best choice of insurance for landlords who want to let their property out as a furnished or part furnished. This offers the landlord the assurance that their contents are protected against bad tenants who may cause serious damage to the properties contents. Due to the credit crunch landlords have become more inclined to offer a furnished or part furnished property so that they can find good tenants sooner than later and make their property more appealing to potential tenants. In a nut shell landlord contents insurance is a very secure method of tenants ensuring their contents are protected and reducing their cost of having to replace them due to damage caused by tenants.
The second landlord insurance that landlords can take out is the landlord building insurance. This policy protects the actual structure of the building from natural disasters, vandalism or damage caused by bad tenants. Repair to the buildings can cost a landlord thousand and in worst cases the landlord may even struggle financially to make the repairs possible due to the extent of the damage. This policy is especially beneficial for landlords who have properties in less affluent areas where the chance of damage to the property is higher. This kind of insurance automatically becomes the obvious choice for landlords who have properties in such areas, even though the premium may be slightly higher the financial cost is still less than that to actually carry out the repair work themselves. This type of insurance is also a sensible option for landlords who have properties in areas which have higher chance of natural disasters such as flooding etc. Flood damage can become very extensive depending on the severity of the floods and would be an impossible job for landlords to bring the property back its original condition. Apart from the financial costs there would also be a lot hassle in dealing with building contractors which always a added nightmare as now a days it very difficult to find reliable and professional contractors.
Therefore it is recommended that landlord insurance should be taken out by landlords regardless of the condition of the property. As this policy is designed to protect the landlord against natural disasters and bad tenants, and there always accidents which are unforeseen and can become very costly. I would urge all landlords to pick up the phone and give Rent Guard a call and ask for a no obligation quote for their property. You can also visit their website where you can read up on the different types of landlord insurance policies to ensure that you choose the best policy that best suits your needs as a landlord and ensures that you and your property are covered.