Content insurance for landlords is a key part of renting out a property. If you are or are planning to become a landlord there are certain things that you must have in place and content insurance is one of these things.
I know of a couple of fellow landlords that have not had adequate policies in place and have end up losing thousands of dollars as a result of uninsured losses,in both cases sustained through food damage.
It is all too easy to assume that because you have building insurance in place, and all of the contents belong to the tenant (if you are renting the property unfurnished) that you do not need content cover. This can be an expensive mistake, as two of my friends have found out to their own cost. Your buildings policy may not cover internal belongings to you such as carpets, wooden floor coverings, refrigerator, cooker, washing machines, curtains, window blinds. This quick list demonstrates actually how many potentially expensive items you may have inside your rented property that will require insuring.
Getting the best deal is an essential part of ensuring you get the best possible financial return from your rented house. The first rule s not to accept the first quote you get. Aim to spend a good amount of time researching the market to get the best possible deal. Do not just look at the annual premiums, be sure to look at exactly what is covered and how much any excess is on each policy.
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