I may well have mentioned something about this before but it is a subject I feel passionate about, insurance. It is such an imperative in so many walks of live but in the residential landlord’s market it is even more so.
Many landlords I know insure themselves against disasters to their property and to their contents, if they own things in the house such as in the case of renting fully furnished but many fail to cover themselves for liability. Frankly I find this astounding because an accident involving one of your tenants or their property, under the right circumstances, has more potential to leave you in financial ruin than any damage to property.
There is such a thing as specialist landlord insurance and I highly recommend going for one of these policies, they are literally made for people like us. I also recommend talking to your broker about your biggest concerns as the policy can also be tweaked to suit your individual needs. If you get a good broker with lot of the right experience they really do now what they are doing, make sure you shop around for the right broker and the right policy.
