Before you invest in landlord contents only insurance, you are bound to have some questions that you would like the answer to. Here are a few of the frequently asked questions about landlord contents only insurance.
What does the contents insurance cover? Contents insurance is a part of your policy that covers the furnishings and appliances the landlord owns. These belongings are usually covered against fire and water damage as well as other potential risks such as theft and malicious damage. Some policies may also cover you against accidental damage by the tenant.
Does contents only insurance cover my property? No. Contents only insurance will only provide cover the external furnishings and appliances. If you want insurance cover for the property itself, you will need to invest in buildings insurance.
Does landlord contents only insurance cover my tenant’s belongings? This type of insurance coverage does not cover the belongings that your tenant brings into the property. If you require your tenant’s contents to be protected, you will have to add tenant’s contents cover to you policy. This will protect all of their belongings from damage or theft.
Will landlord contents only insurance cover fixtures and fittings? Insurance companies do offer cover for fixtures and fittings, however this is not included in the contents insurance. Should you requires such items as satellite dishes or fixed glass to be covered by your insurance policy, this will often fall under buildings insurance.
What happens to my insurance cover if my tenants move out? In the event of your tenants moving out, insurance companies will have stated within a clause of your policy how long the property can remain unoccupied for before the cover is stopped. This can range from 30 days to 90 days; it all depends on what you have arranged with your insurance company when you were agreeing the terms of your policy.