When Wishaw landlords need landlord insurance, you actually have a couple of different options available to you depending on how you intend to use your policy.
For example, some landlord insurance policies are intended for commercial properties like factories, and other landlord insurance policies are intended for landlords that need residential properties covered.
There are also insurance policies that cater to specific types of landlords, buy to let landlords and so on. No matter what application you have in mind, there is bound to be a specific insurance plan designed specifically to meet those needs.
Choose a policy to fit the purpose
Landlord insurance is intended for landlords that have commercial purposes, such as renting out flats and houses, bungalows, office space, bed sits and provide tenancy for DSS tenants. What this means is that if you are insuring a single property or several, you must get insurance for any of these purposes.
These types of insurance policies for landlords are designed specifically for landlords’ liability, insuring their contents, fire damage, loss of rent protection and boiler repair cover. They are otherwise not much different from private home insurance policies, except in some cases where the use is different.
Can my home insurance cover me?
In reality, home insurance is not a whole lot different than landlord insurance. However, because homes are usually only covered by a single person and do not carry any commercial needs, loss of rent etc., you need a separate policy as a landlord in the UK because it’s a different ball game.
If you are not using your property for business and for your own self-use, then you are probably safe using private home insurance and only insuring the property for accidental damages and buildings damages.
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