Land Lord Insurance

NEXT

The Landlord Insurance is a type of Insurance which protects the policy holder i.e the property owner aka Landlord from the financial losses connected with the properties given on rent. This policy covers the building of the owner. This is similar to the Property Insurance, the only change is that the property Insurance doesn't cover the properties which are given on the rent but this Land lord Insurance does cover the rented property as well.

At a slightly higher premium the lardlord can also Insure the articles inside the house that belong to the Land lord. Some times this Insurance is also called as the But-to-let Insurance plan. It is important to know that Buy-to-let insurance is one of the types of Land lord Insurance. This is generally of two types :

• Buy to Let Insurance
• Multi-property Insurance

The Buy to let Insurance policy covers only one property which is purchased to be given on rent however the Multi property Insurance covers two or more properties which are owned by the person taking the Insurance policy. It is to be noted that Land lord's insurance policy is different from the Land lord's Emergency cover, which gets active when the emergency circumstances arise.

The policy generally covers the Normal perils related to property like losses due to fire,lightning, explosion, earthquake, floods,storm, theft, damage with a bad faith. However it is to be noted that each and every policy of this type of Insurance may be different and it may or may not cover the above mentioned perils. The Land lord will be advised to read the offer documents of the Insurance policy carefully before signing up for any of the policy or take the advice of his Insurance agent.