Fundamentally, the reasons for having rented property insurance are the same as for home insurance - you want to protect your property. However, where rental property insurance differs is in the protection it gives you for third party liability and damage caused by tenants.
This paints a bad picture of tenants, which is unfair as more often than not, you won't encounter any problems. However, for the times when damage is done to the property and caused by a tenant, having rental property insurance in place can protect you from the potentially high costs that may arise.
Simple's rented property insurance offers comprehensive cover for damage to your property and its contents and offers you up to £2,000,000 Landlords Legal Liability cover as standard.
Simple's rental property insurance also offers some other useful areas of cover for landlords, which are not usually covered by a standard home insurance policy. Loss of Rent Cover - If your rented property was damaged to the extent that your tenants could not stay there, then Simple's rented property insurance could help you with the rent you lose at this time, while the property is being repaired.
Alternative Accommodation Cover - In certain circumstances, if your property was damaged so badly that your tenants couldn't stay there, you might be required to re-house them. At such a time, Simple's rented property insurance, which includes Alternative Accommodation cover as standard, can help you with these costs.
Simple's rented landlord insurance offers comprehensive cover at competitive prices. Get a rented property insurance quote today to see how Simple can protect you and your property.