You have a lot to keep track of as a landlord. You want to make sure your property is not only functional for your renter, but also that you are shielded from any responsibility or financial loss if anything goes wrong. As a landlord, you must ensure that you fully grasp the coverage you need for a successful lease for both short- and long-term renters.

What insurance do I need as a landlord?

You'll need different insurance as a landlord than you would as a homeowner. A conventional homeowners insurance policy only protects main residences, therefore it will not cover any damage or liability concerns that arise from renting out your property to others.

What does landlord insurance cover?

Landlord insurance protects your home, other buildings on your property, personal belongings, and liabilities. However, unlike a homeowners insurance policy, each kind of coverage has certain special conditions that you should be aware of.

Dwelling coverage. This covers your property's structure if it is destroyed by a covered danger, such as a fire.

Other structures. Other buildings on your property, including fences, sheds, and detached garages, are protected against damage caused by included risks.

Personal property. This clause only applies to personal property needed to maintain or serve your property. While a broken TV left at home is not covered, damaged lawn equipment and appliances are.

Liability. While most liability concerns will fall under the obligation of the renter, liability insurance can protect you legally and financially if you are judged to be liable for an accident on your property.

Speak to an expert

If you're looking for landlord Accountants and want to talk with experienced Accountants in London about the best options for your needs, Our Accotax Accountants will be pleased to assist you.

Contact us immediately at 0800 644 1258 or send us an email at info@accotax.co.uk, and we'll be in contact quickly to discuss your needs and set up a call with no commitments on your behalf.

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