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There are a number of points to remember when considering buildings and contents insurance:
Both buildings and contents insurance remain your responsibility
when you are letting out your property. However, in the case of
leasehold property, buildings insurance is almost always arranged
by the freeholder and included in your service charge.
Even if you are letting your property unfurnished, you still need to get contents cover to protect the basic items. This often requires a specialist policy that protects things like the carpets, curtains, appliances and other fixtures or fittings. You should make sure that it covers you against damage caused by the tenant. If you are letting the property furnished, you only need to get insurance cover for those items which you have provided.
You have no obligation to insure the possessions of the tenant. He or she should provide contents insurance cover for their own possessions prior to moving into your property.
If you already own the property and have an insurance policy,
you must tell your insurers in writing that you intend to let
out your property. You may find that they want to impose certain
restrictions on your cover or increase the premiums whilst the
property is let. You may well find that your normal domestic insurance
policy will not cover you for letting out your property, which
is often classified as commercial.
In fact, there are quite a few well-known household insurance companies that will not deal with rented property at all, with there being an increased chance of this if the property is rented to students. You can find specialist insurance policies designed especially for landlords, with particular provisions to cover rented property. Try the insurers in SiteFinder as a good starting point.
Before you rush out and buy your insurance, why not read our 9
page guide to the ins and outs of household insurance policies.
Read
it here.
Briefly though: