Hi, my name is Lorna, and I’m and advisor for Towergate.
In this video we’re going to look at accidental damage cover for landlord insurance.
Accidental damage insurance is there to cover you for damage and the cost of repair or replacement to your property or contents when caused by you, your tenants, or a guest.
This particular cover is not usually available on its own but rather is added as an optional extra to a flexible landlord insurance package policy.
An accidental damage claim could be for something as simple as a red wine spill although if for example you drilled through a water pipe whilst doing some routine work claims can get very serious, and expensive.
But as well as understanding what this feature does it’s equally important to understand what it doesn’t do.
What’s not covered by accidental damage insurance for landlords?
Wear and tear
Wear and tear isn’t covered. The general maintenance and upkeep of a property is still the owner’s responsibility here.
Third party work
Damage caused by faulty workmanship will be covered by the workman’s own liability insurance and therefore, you don’t need to pay for coverage of their work.
Malicious damage by your tenants. Although this is insurable, it is usually offered as an optional cover.
Don’t assume you don’t already have it.
If you already have a landlord insurance policy – don’t assume you’re not already covered. Some policies do include accidental damage insurance as standard. Check your policy wording to see if you already have the cover in place.
For more information on landlord insurance browse our site or give us a call.