Hi, my name is Lorna, and I’m and advisor for Towergate.
In this video we’re going to look at contents cover as part of a landlord insurance package.
Generally speaking the contents of a property includes anything that would roll around were you to turn the property up-side down. This means that if you rent a genuinely empty house, with no fixtures, furniture, appliances or personal items you may well not need landlord’s contents insurance at all.
If however you provide some contents then you probably will want to insure them. Remember the cost of a few pieces of furniture, curtains and kitchen appliances can quickly add up should the need arise to replace them all in one go. So even if you have just a few items, make sure you do the maths before you write this cover off.
Don’t forget though, if it’s attached, it’s likely to be insured already under your building insurance. That means bathrooms, and kitchen cabinets may already be insured. If you’re at all unsure simply ask your advisor as there can be exceptions to these rules.
A quality insurer will be able to add landlords contents cover or raise or lower the amount of cover at any time during your policy life, meaning you should only pay for the cover you need.
Be careful not to under insure yourself though. Walk around the property in full and accurately calculate the total amount it would cost to replace all the contents. Should the worst happen and you need to claim for everything, you will need to be insured for the full amount otherwise you could lose out.
Tenant’s contents insurance
Tenant’s contents are not your responsibility. Landlord insurance will cover your property and only the contents which belong to you. Any items the tenant brings with them will need to be covered by their own tenant’s contents insurance. There are cost effective policies available for tenants and students contents available from Towergate and specialist insurers.
For advice on landlord insurance, content’s insurance or more resources on becoming a landlord, visit our website today.