Article by Jason Hulott
The answer may typically be yes to the above question whether you intend letting out a single room in your own house, a property such as a house, flats, or a holiday home.
The risks typically insured
When taking out landlord property insurance there are usually some perils and events that are typically covered, such as third party liability. However these may differ slightly between insurance providers it makes sense to check the terms.
The age of vandalism
Unfortunately we live in an age where vandalism occurs more and more frequently. Depending on the damage vandals may cause many hundreds of pounds worth of damage, if not more. This may typically be included in some buy to let insurance policies, but always check to make sure.
Nasty surprises from unruly tenants
Some providers will offer cover for malicious damage caused by tenants. However not all do, so it may pay to choose a provider of buy to let building insurance that offers this form of protection. Tenants may cause you a great deal of financial worry if you have to pay for damage such as this out of your own pocket.
Fire damage
Fire typically causes a great deal of destruction even if contained to a single room of the property. Imagine it tearing through the whole of the building. You may lose all the contents of the property and even the property itself if it is unstable. Rebuilding costs from fire may be enormous but thankfully fire damage may be included in the typical landlord property insurance.
Mother Natures storms
Mother Nature may often be very cruel, especially when it comes to storms. Lashing rain and gale force winds along with snow, hail and lightning storms may all cause considerable damage to properties. Therefore you may wish to check that any buy to let building insurance you are looking into, provides protection against these types of perils.
Insurance for the contents
Landlords contents insurance may also typically be an option as part of your landlord property insurance along. This means that generally if the contents are damaged due to any of the perils listed in your policy, you may be able to claim.
Taking out adequate landlord property insurance is essential when you consider how much you are going to be spending on your venture in the property business. It may also be a condition of your mortgage, so do check.
About the Author
Jason is the Webmaster of http://www.landlordpropertycover.co.uk where you can compare rates for your landlord insurance as well as take advantage of some excellent policy features.