Being a landlord is not as easy as everyone seems to think it is. You do not just sit around waiting for tenants to come and pay the rent each month. There are a lot of things that need to be taken care of and you as a landlord have a responsibility towards your tenants, just as they have a responsibility towards you.

Before renting any property you should take a look at the different landlord insurance policies available and choose the ones that you think are the most suitable for you. You should always arrange residential let buildings insurance to insure the actual buildings. Landlord contents insurance is highly recommended if you do not want to pay out of your own pocket for any damage to your own contents if the property is let furnished. It is important to consider that landlord contents insurance does not normally cover malicious damage by penalties.

Numerous landlords have regretted deeply that they did not get insurance at the right time and they ended up paying for repairs that could have been insured. You may be lucky and not need insurance if everything is kept in good order and regularly maintained, however there will always be occasions when emergencies will happen, such as a leaking pipe.

No matter how good the state of the let property, damage will still be caused due to accidents and other unforeseeable events, so it is best to be prepared for this. There are several landlord insurance policies available, so it is best to be prepared for all situations.

Unfortunately, there are also tenants who damage the property intentionally, so it is important to have buildings insurance that covers malicious damage by penalties. This will provide some cover, for damage to the actual building and any fixtures and fittings, but not for any contents you may have in the property. It can be difficult to tell if the damage to the property is intentional or not, so it is best to be insured in both cases and let the insurance company handle it.

If you have properties let out for residential purpose then you may also be interested in rent protection insurance. This protects you from non-paying tenants and just like other policies; it can be purchased directly online. Most landlords are very busy and you probably know that better than everyone, so the fact that you can get insurance directly online, without filling in a mountain of paperwork should be good news.
Most insurance companies offer the possibility of purchasing online and since that is available you may also want to take advantage of how easy it is to find information on all insurance companies and insurance brokers and compare their offers. Pick the best one and then fill out the forms online, it is as simple as that.

Remember that it is best to get insured before renting the property to anyone, because even in a short amount of time the damage caused can be extensive and the cost of repairing everything can be very high. If you own more than one property, then this becomes even more important, as there is no way of checking every property daily to see its state. It is important to remember that landlords emergency assistance insurance does not replace your responsibility to keep the property in a good state of repair and that the insurance will only cover the immediate emergency repair costs, it is the landlord's responsibility to pay for permanent repairs or replace a faulty item such as a boiler.

The premium for landlord insurance increases along with the number of properties, as is to be expected, but the cost is absolutely worth considering the financial investment a landlord has in each property and to avoid being called at 3:00 in the morning by a tenant who has a leaking pipe. If you are looking to get landlords insurance then just make sure that it covers all possible events, as you do not want to discover that the damaged caused your property is not covered by insurance. Do not think of landlord contents insurance as a monthly cost that may or may not be worth it, because it will certainly be worth it sometime in the future, depending on your luck with the property and the tenants. The more tenants you have, the higher the chance of insurance being needed and that is why the cost is higher for a larger number of properties being rented, but the money saved by having insurance is also not something that can easily be ignored.

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