UK Landlord Tenant Insurance

It is a good idea no matter where you live to get your home and its contents insured. There are several insurers in the United Kingdom that are willing to provide cover for people who live in rented accommodation, and by shopping around, a great deal can be found to get everything covered at a low annual cost.

Tenant Contents Insurance

Tenant contents insurance covers people who rent out a furnished or unfurnished property. This insurance may be long or short term. When an individual rents a furnished or unfurnished property, he/she will most probably be asked to pay a deposit of a cash sum (usually comparable to a month’s rent). This acts as insurance and protects the landlord against destruction of property, but it only usually applies at the end of a tenancy.

Tenant content insurance is available for all tenants residing in apartments, bed-sits, shared accommodation, and all ranges and sizes of housing across the United Kingdom. It covers standard risks such as

• Natural calamities e.g. floods, lightning, earthquakes and hurricanes.
• Fire
• Water leakages
• Theft and burglary
• Civil unrest
• Collisions

There are also additional benefits such as accidental breakages, cover for home entertainment equipment getting damaged and even cover for when you need to spend money securing alternative accommodation.

The cover for accidental damage of landlord’s contents includes a full cover for the landlord’s possessions while protecting the tenant’s deposit.

Tenant Content Insurance for Fully Furnished Properties

Tenants in fully furnished homes do not own the contents, but are responsible for some damages that might happen to the items.  Tenants may also be held responsible for wear and tear of the said items. However, damage as a result of irresponsibility from the landlord may be charged to him.

Tenants are liable for the accidental damage of the landlord’s property however they do not have to rely on their security deposit for cover and can also get insurance themselves.  The landlord has to cover his/her contents, while in most cases tenants tend not to, instead relying on their deposit to cover costs. Further, he/she may want to cover the value of the deposit(s).  Private and personal possessions may be covered by insurance, though it is far more likely for someone with a long term contract to take out insurance than somebody with a short term one.

Getting Cover for Unfurnished Properties

For an unfurnished property, the tenant is responsible for insuring his/her own personal content. The policy can be widened to private possessions such as furniture, household goods, collections, valuables, etc. You can insure basically anything that is yours as a tenant.

The tenant insurance covers the tenant’s personal belongings, together with the deposit paid. The tenant must find out whether contents of the house will be replaced with new ones after significant wear and tear. Landlords do bear some level of responsibility in this regard.

Cover for a Landlord

As owner of a building, landlords should get building insurance. If they own any contents inside the building, they should insure them because the deposit may not be sufficient to compensate all possible damage that may happen on rented property.

As is the norm, clients are required to fill out forms specifying the quotes for buildings and their contents however the options can be changed and re-quoted at a later date. Some insurers set a minimum value of about £10,000 so it can work out quit expensive so it is advisable to seek out the cheapest home insurance around before committing oneself.

As a landlord, content insurance could be purchased directly from insurance brokers who could save money and be a shrewd way of protecting your chattels. While covering damage meted on the landlord’s possessions, this policy also safeguards his/her personal possessions.