Landlord Contents Insurance for Flats

Landlord Contents Insurance

When you let property you have consider where the biggest risks are. A lot of claims that landlords make on their insurance is due to problems with tenants. This can be because of liability claims, loss of rent or damage and theft of contents. Many landlords like to offer their properties with a lot of modern furnishings to attract new tenants. Whilst this is a good way of attracting tenants it’s often a double-edged sword since it increases the risk of damage and theft.

Landlord contents insurance for flats is an ideal way of protecting your contents from these risks. Any good landlord insurance provider will be able to offer you contents insurance as part of your policy at a very competitive price. Of course contents insurance alone is not enough to cover you for all the risks associated with letting property so it’s a good idea to read through this page and decide which types of cover will benefit you most.

Additional Types of Cover

Building insurance

This is essential for any property owner. Building insurance will provide cover if there is structural damage that can occur from fire or flooding. Structural damage is some of the most expensive to repair so you should always get building insurance as a standard part of your insurance policy. If you don’t have it and your property were to be badly damaged then it could be financially devastating if you don’t have cover in place.

Public liability

Liability claims are at an all-time high so having public liability insurance is recommended for all landlords. Liability claims can occur when someone is injured or killed because your property is unsafe. For example if some debris fell from your building and struck someone in the head. You always need to protect yourself against these types of claims as a landlord.

Legal expenses

The legal expenses associated with fighting liability claims can become very costly so having this option included in your policy will give you extra peace of mind.

Loss of rent guarantee

There are times when you might have a tenant who is unable or unwilling to pay rent. Loss of rent guarantee will compensate you until you’re able to resolve the situation. These types of situations can often drag on so it’s always reassuring to know that you’ll be compensated until you’re able to have the tenant evicted.

Saving Money

There are some sure fire ways that you can save money on your landlord contents insurance. These include:

Secure your properties

This will show insurance providers that there is less chance of your properties being broken into or vandalized and therefore they will be able to offer you a better price for your policy. There are many ways you can make your properties more secure. For example, having high quality windows and doors fitted might be expensive initially but it will make your properties much more secure. Using alarms and CCTV is another good way to secure your property.

Pay annually

The vast majority of people pay for their insurance on a monthly basis but one of the best ways to save a significant amount of money on landlord contents insurance is to pay for your insurance annually. Insurance providers always prefer when you pay upfront so doing this means you’ll be able to negotiate a better price for your policy.

Get multiple quotes

This is very quick and easy to do but still something that some landlords neglect. Get quotes from different insurance providers is vital since it’s the only true way to know if you’re getting a good deal or not. When you get quotes from different providers, you can compare them to each other and see which policy offers the best protection for the most competitive price.

The Benefits of Getting Cover Online

Below are some of the main benefits of getting landlord contents insurance online:

Save time

Getting quotes online will allow you to save a lot of time. Landlords are typically very busy people so being able to get quotes in the easiest way possible makes a lot of sense. Although you can get quotes from separate providers, this will take a lot longer to do and there’s simply no need to take this approach anymore.

Save money

Finding your insurance online could also save you a good deal of money. If you simply take out a policy with the first insurance provider that you contact then you won’t be certain if the policy offers good value for money. Being able to easily get quotes will allow you to make a much more informed decision.

Tailored policies

When you get quotes online, you’re also able to add options to your policy very easily to make it tailored to your specific needs. Extra levels of cover such as contents insurance and rent guarantee can be added to your policy to make it more secure.

Easy claims process

If you need to make a claim on your policy then you want to know that the claims process will be as quick and simple as possible. This is certainly the case when you take out a policy with one of the providers on the panel.

Expert advice

If you’re not entirely certain which type of policy is best for you or you just want to clarify the details of a particular type of cover then expert advisers are always on hand to speak to.