Key Questions to Ask When Choosing Landlord Insurance

In Cases of Damage, Breakdown or Injury:
(1) Am I covered if someone gets injured or hurt on my property?
(2) Am I covered if accidental damage is caused by my tenants?
(3) Am I covered if my tenants leave the property ruined or in a bad state of repair?
(4) Am I covered for water damage to my property?
(5) Am I covered against storms and other weather damage?
(6) Am I covered for drains damage?
(7) Are my outbuildings, fences and garden equipment covered?

When It Comes to Claiming:
(1) What is the level of cover that you provide?
(2) Is there an excess and how much is it for should I need to claim?
(3) What do I have to do if I want to make a claim?
(4) What kind of documents will you need to see should I need to make a claim?
(5) Is there any kind of limit on the number of claims I can make?
(6) Is there a time limit on making my claim?

With Regard to Tenants:
(1) Are there any kinds of tenants who will not be covered by the policy?
(2) Will I be covered in the event of a dispute between myself and the tenant?
(3) Will I need to inform you if my tenant has any convictions
(4) Do they need to get rental insurance ?

Remember to quiz your insurance broker thoroughly on every little detail. If you were chatting with your accountant you would have no qualms about making sure you have covered every last detail of your return. Similarly, go through all elements of your landlord insurance policy with your insurance broker so you understand everything about what you are signing up to.