Landlords and Tenants
For landlords, building insurance is crucial, as it is for all homeowners. For tenants, building insurance is usually covered by the landlord and only contents insurance needs to be considered.
Landlorda EUROS TMs insurance
Landlorda EUROS TMs home insurance is varied by nature. All landlords will need to have buildings insurance but contents insurance is available to a varying degree depending on how the property is furnished.
Here are some of the additional options available to landlords:
Emergency Assistance a EUROS This covers the cost of a contractora EUROS TMs call-out up to a maximum limit (for example 500) for work done. It will not cover incidents arising from a lack of routine maintenance.
Legal Cover a EUROS Cover for legal expenses to assist with issues such as tenants not paying rent, failure to leave a property or unauthorised inhabitants, etc.
Rent Guarantee a EUROS This pays the rent you are expecting if the tenant refuses to pay while vacant possession is obtained and for three months until a new tenant is found.
Tenanta EUROS TMs insurance
With more and more people priced out of the housing market it has become crucial for home insurance companies to specifically cover the needs of tenants who have different needs from the average homeowner as they generally do not have to insure the building and only have to insure a limited number of contents.
By taking out a regular homeowners insurance policy, a tenant will generally face a higher premium than they need. A specific policy should match your needs more accurately and also allow for additional options including home emergency cover.
In part six we will continue to look at some of the specialist home insurance options available.