Everything you need to know about buy to let contents insurance

As a landlord, the property you are renting out is an important source of income. Therefore you need to make sure that your property is being rented out to tenants regularly. You and your tenants will have items and materials within the property that will also need to be insured. The best way to do this is by purchasing buy to let contents insurance. So what is it and how does it work?

Most policies will cover the contents of your property from what are regarded as the standard perils that can occur. These can be fires; floods, earthquake damage or theft, but some policies also include other problems like collisions from falling branches or trees and damage from riots or civil commotion.

Contents insurance is sold separately to buildings insurance. When you purchase contents insurance for your letting property, you should receive cover for all the items within the building in the event of them being lost, stolen or damaged on the basis of new for old.

Within the policy you should receive cover for the building’s contents in its entirety, including furniture and carpets. Buy to let contents insurance will cover any electronics and appliances that you have in the property up to a certain amount. These limits will often vary depending on which provider you buy your insurance with. However, it is important to remember that any content that belongs to your tenant most likely won’t be covered by this policy.

Tenant contents insurance is available as an additional policy from your buy to let contents insurance. This kind of insurance will cover any accidental damage to tenant’s contents or landlords contents as a result of negligence from the tenant. This policy can also cover the tenant’s liability to the public.

Contents insurance is always strongly advised for all landlords, whether they are experienced in letting their property or not. Nobody can predict the potential accidents and damages that can occur, so the best thing you can do is be prepared for them.