Landlord?s Protection to His Let Out Property – Tenanted Property Insurance!

Landlord?s Protection to His Let Out Property – Tenanted Property Insurance!

A landlord may find a landlord building insurance quite essential without realising the need for tenanted property insurance. There is a difference between the two. A rented property insurance will cover your assets or contents in the rental unit. On the other hand, a building insurance covers your property externally and not for its content. Hence, there is a need for property insurance to safeguard the content in a rented unit. As a landlord, you should not overlook rent property insurance.

A tenant can also get a coverage under tenants content insurance. In case, a tenant damages the content of a landlord while he is residing in the rented house, the chances are the landlord will take the costs of repair from your deposit. In order to safeguard this deposit paid to the landlord, you can avail a tenant content insurance at a minimal price.

In some cases, a homeowner’s insurance policy will not be comprehensive enough. It may not cover damage caused by natural catastrophe or damage to art or loss of or theft  of jewelry over a certain amount. In such cases, you need an extra cover and rented property insurance will help if your house is in high risk area for earthquakes, flood, fire or others.

Rented Property Insurance is also known as let property insurance or tenanted property insurance. When a landlord does not reside in the vicinity of his property let out, he will be risking his property. As a tenant may damage his property and