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Landlord Insurance

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What Is Home Landlord Insurance?

Home landlord insurance, also known as landlord insurance, is the type of insurance that covers and protects property owners from damages on their rented property or building. These damages might be naturally occurring, e.g. flood, storm. They can also be caused by man, for example, fire, burglary, etc.

Landlord Insurance and Home Insurance

Unlike the standard home insurance which only gives you insurance against uncontrollable factors such as fire outbreak, flooding, mud and landslides, earthquakes, etc. insurance for landlords protects you from any type of financial loss involved with rental buildings.

With landlord’s buildings and content cover, the landlord and the tenant alike enjoy the benefit of this protection. Perils such as fire and lightning, flood, storm, leaks, loss of water or oil. Earthquakes, explosions, subsidence, trace and access theft, vandalism, etc.

It also protects the landlord from loss of rental income. Several factors may be responsible for nonpayment of rent such as Illness, court order, loss of job and so on. Once you compare landlord building insurance quotes, you are at ease with the clear knowledge that you are fully protected from these mishaps.

Is Landlord Insurance Cover Required?

Legally, there is no rule enforcing the adoption of this insurance. For most homes, a regular home insurance is enough. However, a home insurance will not cover you when any rental mishap occurs. If you have a buy-to-let mortgage on your property, you are highly advised to compare cheap landlord insurance.

Specialist Landlord Insurance

Specialist landlord insurance provides landlord insurance on damages to property that is on rental. They often go as far as protecting you in cases of a lawsuit from a tenant. Normally, tenants might get injured and they would leverage on the poor fittings or covers in your apartment. Specialist landlord insurance handles the legal cost and also provide free legal advice. In addition to these, they repair and replace fittings, tiles, curtains, etc.

Landlord Insurance 1

Landlord Insurance Quote

Landlord insurance quote is basically the rate your insured rental property is estimated be upon coverage.  It should be noted that this is merely an estimate and accuracy is highly dependent on how forthcoming the client is with information. When you compare cheap landlord insurance quotes, you should keep this in mind. When you request a quote from mymoneycomparison, you are provided with cheap landlord buildings and content cover with which you can use for your building.

Landlord Insurance and Standard Home Insurance

Landlords building and contents cover is applicable in a unique case where the property in question is provided with furniture in it. It is a case of providing the tenant with an already furnished house, the building, as well as the furniture, are both insured to protect it from damages.

Normal building insurance does not provide a cover for this. Materials involved are rugs, carpet, sofa, and electronics.  However, it should be noted that only things belonging to the landlord are covered and the tenant will have to provide his own insurance cover for properties owned by the tenant.

Cheap buy to let landlord insurance quotes can be gotten here. When you compare landlord building insurance quotes, the insurance coverage that best provides adequate protection as well remaining fair price is the best to opt for. Competitive offers are usually tabled and it is paramount to be able to identify the unique offer that is most suitable for your rental property.

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Helpful Links: Insurance Associations

NLA – The National Landlords Association – The National Landlords Association (NLA) and the Residential Landlords Association (RLA) announced today (August 29th 2019) their intention to unite to create a single organisation for landlords after more than 20 years of friendly competition.

ABI –  Association of British Insurers – The Association of British Insurers is the leading trade association for insurers and providers of long term savings. … need to contact their insurer for a Green Card which they will need to carry on them if they wish to drive their vehicle in the EU.

BIBA – British Insurance Brokers’ Association – The British Insurance Brokers’ Association (BIBA) is the UK ‘s leading general insurance organisation.

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