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.

Find the best policy that suits your property.

landlord insuranceis becoming more and more popular since the down turn in the economy. Since the down turn and stricter regulations by the FSA it has become difficult for landlords to find buyers for their properties. These landlords have now been forced into considering rental alternatives to ensure that they cover their mortgages. Landlord insurance has become a must have new landlords as it provides the best cover for landlords to safe guard their properties against any kind of natural or accidental damage. New landlords are more conscious about potential repair costs in case they have to pay out for repairs, in comparison to landlords who rent out their properties rather than buy and sell. However landlords insurance is even becoming popular with landlords who rent out their properties for a living as it takes all maintenance hassle away from the landlord allowing them to focus on buying more lucrative properties to rent out.
There is also a landlord contents insurance policy. This protects the contents of the landlord in the property. This cannot be confused with a full contents insurance, as many tenants make the presumption that their goods will also be covered by this policy. The landlord contents insurance policy specifically protect the contents provided by the landlord with the property such as appliances, sceneries etc. This is particularly an advantage for landlords who offer their properties on a furnished or a part furnished basis on the rental market. The premiums for these policies are very economical in comparison to actually having to have the repairs carried out by contractors. This can be a very expensive exercise for the landlord if they provide a large number of contents with the property. The contents of the property are protected even against damage caused by the tenants. This is where this policy differs from an ordinary contents insurance which is designed for homeowners living in their own homes.
Landlords can also protect the actual building as well by taking out a landlord building insurance. This protects the building structurally. This is an ideal policy if your property is in an area which is immune to natural disasters. This type of policy will provide cover for landlord making it a sensible investment to ensure that they avoid heavy financial bills from contractors who can charge thousands of pounds to restore the property back to its original condition prior to the damage occurring. The landlord building insurance can also be offered to landlords in such a way that whilst the works are being carried out on the property the insurance company will protect the landlord against rental income that may have been lost if the damage did not take place.
I recommend all landlords, large and small to take a few minutes and visit Rent Guard. They provide great deals for landlord insurance. Give them a call today and protect your property from all kinds of damages. Their agents are very experienced and will help you, the landlord, find the best policy that suits your property.

Personal home and content insurance.

A landlord contents insurancepolicy does not refer to the content policy of the tenants, that is their own responsibility and they need make provisions for that themselves. This type of policy refers to contents of the landlord in the property, depending on if you have rented the property furnished or unfurnished. Therefore in the event of any damage to carpets, sofas and pictures etc the landlord contents insurance will cover for damages. This kind policy can provide cover to contents beginning from the amount of £5000.00 onwards. This policy especially benefits landlords who consider offering a property furnished, to help rent out the property sooner. This kind of insurance will cover the landlord and their contents. Even though landlords try to vet tenants before they move in, this type of policy offers the landlord the peace of mind that their contents are safe either way in case of a genuine damages, or even due to inconsiderate tenants who may damage the landlord’s contents.
If you are a landlord you should have a proper landlord insurance to cover your rented property. A normal home insurance is not designed for rented properties and may not cover all aspects of your property and tenant needs. This could lead to the landlord having to put things right themselves and this cost a lot money and with the credit crunch looming no landlord would like to pay out more money then is really needed to be paid out for repairs. So why not give Rent Guard a call that specialise in landlord insurance and can offer landlords with landlord insurance policies designed to protect the landlord and the their properties. It costs less than you may think so its worth a while to pick up the phone and give rent guard a call and insure your property for your peace of mind.
landlord building insurance is another policy for landlord to ensure that their property is protected again any natural disasters and most obviously will provide cover if there is any misuse of the property by the tenants. The landlord building insurance is particularly beneficial as it can also offer financial safety measures. There are many other things that can be added to the policy to provide a better cover, which covers all aspects of being a landlord. This is always recommended to ensure that the landlord is fully covered in the worst case scenario.
All the above policies are design in a specific way and different to personal home and content insurance. Therefore it is very important that landlords understand the importance of these policies and take out a policy most suitable for their property. It is also advisable to landlords to ensure that their tenants understand that the landlord insurance will not cover their contents or goods in case of any damage happening to them. Tenants need to take out their own insurance to protect their own personal items. If you are a landlord are interested in protecting your property against tenants, accidental damages of natural disasters give Rent Guard a call or visit their website and one their insurance advisors will be happy to ensure that your property is covered with the best policy for your property.