Landlord
Building & Contents Insurance
Orchard can
provide landlord insurance quotes for landlords who wish ensure
that their investment is adequately protected. Every landlord should
protect their property with adequate insurance cover. From the landlord
who lets a small studio or one bedroom flat, to the successive property
investor who owns an extensive property portfolio. Whatever the
landlords’ circumstances a considerable amount of capital is tied
up in their property, landlord insurance will protect you against
losing your capital investment, and can also help protect the income
you receive from your tenants rent.
Buildings Insurance
Most insurers
work out a rate to charge the landlord based on the location of
the property and then apply it to the amount specified to rebuild
the building (which is called the Buildings Sum Insured).
Often many landlords will be tempted by under insuring their property
to obtain lower premiums, it is important that your property is
insured for the right amount. Some landlords find that they are
already paying their buildings insurance in their service charge
or managing agent charge in which case landlord buildings insurance
cover wont be needed however contents and liability will still need
to be taken out.
Landlord Contents
Insurance Insurance
When an insurer
discusses a landlord policy and refers to insuring contents they
are not talking about the tenants contents. The tenant’s contents
are their own responsibility and can be done through a standard
contents insurance policy.
The contents that you can insure are items that you own in the property
but which may become damaged such as carpets and if a furnished
let this will include; sofas, tables, chairs and pictures etc also
known as the land lord’s fixture and fittings.
Landlord
Liability Insurance
A landlord has
a duty of care and is therefore responsible for the safety and protection
of the tenants that reside in their property. For instance if a
tenant harms themselves due to something dangerous in the property
they can make a claim against the landlord for damages. A tenant
may electrocute themselves on a faulty electrical appliance and
subsequently burn their hand as a result therefore landlord liability
insurance cover will pay out for any damages that are awarded to
the tenant as a result of the faulty appliance well as all legal
costs.
Call
Orchard Property Service now so we can search insurers for the most
competitive quote.
0845 2 30 29 28
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