Property Insurance Made Simple

If you bought a property to let it out or decided to let your own current property out and find bigger house for yourself, the next thing you would think about would be appropriate insurance to protect your properties, especially the one to be rented out. It is very important to have a specific landlord house insurance policy once your property becomes an extra source of income. You need to make sure your house and its contents are well protected. Standard home insurance is not appropriate for you as, differently from landlord house insurance, it wouldn’t cover some particular specific risks!

Generally landlord house insurance provides a cover for building, contents and cover for you.

Building cover from Discount Landlord Insurance for instance, means that you are protected against damage by the following perils:

• Fire, smoke, explosion, lightning
  
• Theft or attempted theft; consequent upon violent and forcible entry
  
• Riot, civil commotion, labour and political disturbances and strikes
  
• Malicious damage and vandalism consequent upon violent and forcible entry
  
• Impact by: aircraft or other aerial devices or anything dropped from them; vehicles; trains; animals
  
• Storm or flood
  
• Subsidence or heave of any part of the site on which the property stands or landslip
  
• The escape of water from/or the freezing of any fixed domestic water or heating installation
  
• Loss or damage caused by the escape of oil from a fixed oil-fired heating installation including smoke and smudge damage by vaporisation due to a defective oil-fired heating installation.

From the examples above you can see that buildings cover protects you against potentially huge financial losses in case your property would get damaged or completely destroyed. When you renting out your property, in many cases by doing so you must trust the complete strangers, you putting all your assets at risk.

The cost of landlord buildings insurance varies and depends on many different factors such as rebuild value, property location and tenant type. If the property is located in dangerous area, according to the history and statistics, showing for example high risk of crime, or subsidence area then the insurance premium might be higher than the one for the property in small quiet town. At Discount Landlord we work with a panel of leading UK insurers which means flexibility in covering virtually any type of let or property location and enables us to provide you with wide-ranging highly competitive landlord house insurance cover. Another important thing to take into consideration when insuring your house is to insure it for the appropriate re-build value not the sale price.

Landlord insurance gives you some additional benefits, such as employers and public liability which means that you, as a landlord, are covered in case your tenants or hired professional workers suffer an accident at the property and you are obligated to pay them indemnity as a result. This part of insurance is very important as in case of any claims, arising due to personal accidents and occurring within your premises to your tenants or employees, with our buy to let insurance you are covered up to £5 million.

Once you have your appropriate landlord house insurance in place you can have a pice of mind and don’t need to worry about serious unexpected accidents affecting your assets. In the case if you have a mortgage on your property, the landlord house insurance policy may be a necessary requirement - Needless to say, every lender wants to protect their financial interest in the property.

No matter what your personal circumstance is, by insuring with well regarded insurer like Discount Landlord you can be rest assured that your property is adequately protected from the unpredicted risks and damages.