Posted on Apr 29, 2012 | Comments 0
Whenever you have a valuable asset, it is always important to protect that asset from possible risk. This is especially true for those people who own property.
While this property might be where they reside, it can often be property that they own as a business, as in the case of a landlord.
Given the different purpose, landlords would need to protect their property with special protection known as landlord insurance. One provider definitely worth checking out is Endsleigh Insurance.
Landlord insurance comes in two different forms. One of these is landlord’s building insurance. This kind of coverage is taken out to protect the actual building that is on the rental property.
Not only is this structure covered with landlord insurance but also any fixtures that are attached to the dwelling. If the building sustains damage or is destroyed, then the insurance policy would provide coverage.
Another sort of landlord insurance is known as contents insurance. This type of policy would cover items that are in the building. This might include such things as furnaces, hot water heaters, appliances, air conditioners and similar items.
These are things that would need to be replaced in the event of a disaster. However, simply having building insurance would not protect the landlord if damage or destruction occurred to these items.
In some situations if the building is divided into several flats, there could be a great number of these items that will need to be replaced. This could end up being quite expensive if a landlord doesn’t have proper insurance.
When a landlord takes out a building contents policy, it only pertains to the items that belong to the landlord within the building. If any of their tenant’s possessions are damaged or destroyed, they are not covered by the landlord’s insurance policy.
For a tenant to have any coverage, they would need to find a renter’s insurance policy.
Posted in: HOME SECURITY