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Insurance For a Rental Property – “What You Need To Know”

Article by Eric Madrid









Rental property insurance is very different than a homeowner’s policy. A standard homeowner’s insurance policy will not cover a rental property, as there are special considerations that you will need covered. Some landlords lie to insurance companies and tell them the property is owner occupied. Don’t do this! This is very risky, and could put you in very hot water.

How is Rental Property Insurance Different from Homeowner’s Insurance?

Homeowner’s insurance covers your house and the contents within. Rental property insurance covers the structure but it does NOT cover the tenants contents unless there are items that you will be providing for the tenant’s use (such as furniture.) Also, rental property insurance focuses more on liability and protecting you from lawsuits. Finally, there are clauses in most rental insurance that will protect you from the loss of rental income.

Why Your Tenants Need to Have Renter’s Insurance

It is a very good idea to require your tenants to purchase renter’s insurance. Your homeowner’s insurance does not cover your tenant or any of his or her possessions, so it’s really in their best interest. This insurance will also protect you from being liable for any health or property damages that your tenant may try to blame on you, as those items are covered. They will be compensated, and the tenant will not need to seek legal action against you.

Deductibles

If this level of insurance seems a little expensive for you or your tenant, then you can always try to obtain a policy that has a high deductible but a low premium. This works very well if you’re trying to protect a large number of relatively cheap items. On the other hand, if you or your tenant has some very expensive items, you will want a policy with a low deductible. Assess your needs and purchase a plan that’s right for you.

Final Thoughts

If both you and your tenant have the proper rental property insurance, then there is very little that won’t be covered in case something gets destroyed or stolen. You’ll also be covered from liability in the case of injuries or defects in your property. It’s always better to be safe than sorry, so know what you’re getting into if you decide to skimp on insurance. I highly recommend adding an umbrella policy to your regular home owners policy. This will give you even more protection from tenant lawsuits.

*If you enjoyed this article and would like to learn more then visit my website by clicking on the following link Working-Landlord.com



About the Author

I’m Eric Madrid – owner of working-landlord.com, Real Estate Investor, Landlord, Aircraft Mechanic, Author, Husband, and Father. As you can see I wear many hats, just like a lot of other landlords.










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Informative website discusses the virtues of public liability insurance

Article by Alan Reed









For those in business, public liability insurance is an essential element of any business that has members of the general public or customers visiting their premises. It is an insurance product which safeguards against the awarding of any damages against the business for a variety of reasons, and as such is a vital form of insurance to guard against legal expenses and damages, which could ultimately destroy a business. http://Www.publicliability.org.uk is an informative website that provides advice and guidance regarding public liability insurance.

In essence the principle of public liability relates to the possibility of injury or damage to an individual of the general public or a customer whilst on your business premises. The principle of public liability insurance is the fact that it insures the business against any potential claims or the awarding of damages to a claimant due to injury or damage inflicted by the insured business. Claims can incorporate a wide range of possible damages, not only physical but psychological in nature as well as financial loss. Public liability insurance aims to cover the inherent cost of legal fees, awarding of any damages and as well as additional expenses including hospital treatment and ambulance costs.

One of the key factors when considering the cost of premiums for the liability insurers is the type of business that is operated as well as the level of activity. For instance, a business which has little contact with clients at their premises will generally find the insurance premiums are low, whereby those that have constant client activity within the confines of their premises may well find the premiums much higher.

Www.publicliability.org.uk is a website that discusses the virtues of public liability insurance as well as the intricacies of policies. The website aims to provide an informative guide regarding the types of insurance cover as well as the options available to those seeking this type of insurance. The websites informative nature ensures that those that visit will be able to gather sufficient information to make an informed choice as to their available options when considering public liability insurance .

For further information visit http://www.publicliability.org.uk



About the Author

The author writes on a variety of subjects










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Big Brother Home Insurance Bill Makes a Happy House, Says Confused.com

Big Brother Home Insurance Bill Makes a Happy House, Says Confused.com











Cardiff, UK (PRWEB) June 30, 2008

Confused.com included the following info when filling out the home insurance application forms.


    No Flood Risk. Despite the house being built on the site of the old water tank where Moby Dick and The Dam Busters were filmed, there’s little risk of flood at Elstree Studios. In fact there’s more threat from contestants’ tears, belly flops into the pool, and the deluge of attention-seeking applicants still clamouring to get on the show.
    Residents are Non-Smokers. But there’s a giant ashtray in the garden! Well, since the local council classes the house as a workplace and not a home, and with Big Brother himself liable to a £2,500 fine every time a housemate lights up indoors, there’s no smoking inside. Therefore, for home insurance quote purposes the residents are non-smokers.
    Highly Secure Home. With private guards and 24/7 CCTV monitoring, the place is always going to score highly with insurers on matters of security. As an interesting aside, it’s a pity former contestant Jade Goody didn’t learn any security lessons from her two appearances on the show. In May of this year, burglars stole over £50,000 in jewellery from her Essex home – this despite being burgled twice before!
    Buildings Insurance. The amount of buildings insurance required is equal to the build value (£500,000 in the case of the Big Brother 9 house).
    Contents Insurance. Cover was set at £50,000 because, even though what you see looks pretty high-end, there are nowhere near as many contents as you’d find in a regular house containing a lifetime of accumulated items. Accidental damage cover was also included as there hasn’t been a contestant capable of repairing anything since DIY expert Craig Phillips won Big Brother 1 way back in 2000.

Cheapest Quotes Returned

HomeInsurer.co.uk – £170.42

Broker King – £228.24

So whether Big Brother 9 becomes home sweet home or a house of horrors for the contestants, it could definitely be a happy house for whoever pays the home insurance bill.

Car Crash Television

One more thing, Big Brother evictee Alex De Gale’s BMW has been vandalised as a result of her bullying ways on the show. So if you’re going on Big Brother there are two lessons to learn from this: (1) Get adequate car insurance before going in, and (2) be nice!

Notes to editors

For further information please contact:

Caroline Spindlove                                            

Confused.com                        

02920 434 393

Gug Kyriacou/ Joanna Harte                            

Polhill Communications            

020 7655 0550

About Confused.com:

Confused.com is one of the UK’s biggest and most popular price comparison services. Launched in 2002, it dominates the car insurance aggregator market and generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance.

Confused.com is not a supplier, insurance company or broker. It provides its customers with a free, wholly objective comparison service to help with their decision making. Using cutting-edge technology, Confused.com has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers search, buy and apply for whichever product or policy best matches their individual needs. Prices quoted on Confused.com are the same, or cheaper, than going to the insurer direct. Confused.com’s service is based on the most up to date information provided by UK suppliers and industry regulators.

Confused.com is regulated by the FSA.

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Related House Contents Insurance Press Releases

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Compare Home Insurance

Article by NettieMiller LLC









If you were going to buy a new car, you’d hopefully check around and get prices and quotes from several different places, so it only makes sense that you’d do the same thing with your home insurance. Prior to going with any one supplier, be sure that you examine home insurance quotes.

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Compare Home Assurance Quotes: Elements to CompareCompare DiscountsKeep in your mind that greater the discount, the decrease would be the premium. You’ll find varied reductions that you are able to get for home assurance such as:

Comparing the quotations would be straightforward for when you have the quotations on your hand it might be simpler that you can identify the best ones from those that are classified as not. Ensure to select the quotation that gives you the best insurance quotation that you can find. You may then call the business and inquire about their home insurance their rates and different discounts that you could avail if they have one. Don’t forget that this selection would lie exclusively on you and your family’s shoulder.

Comparing home insurance quotations by visiting a range of supplier offices and brokerages can be a cumbersome and lengthy process. Here is where the Net comes to your rescue. You can find diverse on the web web-sites that facilitate the assessment of insurance quotes. On the web web-sites also supply you with experts’ ideas that can help in selecting the best home insurance policy. These web-sites ordinarily furnish details on from a number of insurers. Almost all these services are free of cost.

<hr>Find out the secrets of Compare Home Insurance here.</hr>



About the Author

Nettie Miller writes articles aboutCompare Home Insurance










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