contents insurance for investment property

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kmce

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hi all
we have a one bed apartment rented out to a very good tenant.
I have always paid contents insurance for the apartment.
do other landlords pay contents insurance ?
is it good value for money - the renewal is in and I was just wondering if it was worth it?
The buildings are insured through the management fee but I presume in the event of a fire then the contents would not be hence insuring my contents separately.
what do other landlords think?
thanks
kmce
 
Are your insurance company aware that the cover is for a rental property? If so, I took the decision that it would be cheaper to replace the furniture in a one bed apartment rather than pay the insurance.
The tenant should be responsible for their own personal effects - make sure that this is covered in your tenance agreement.
 
hi g123
thanks for your reply
yes I informed them it was for a rental property.
it covers things like lock replacement and replacement in the event of fire.
surely its worth having in the event of a fire?
what do you think
kmce
 
A good reason to have contents insurance for my contents not tenants on a rented apartment is that public liability is included.

I think it is well worth having, the cost can be offset against rental income so it doesn’t cost much
 
It's worth having. If it only covers your property not the tenants then it shouldn't cost too much. Public liability insurance is important.
 
i need to get insurance on an apartment which is rented. is there any insurance companies that will insure against accidental damage? I tried a few insurance companies, but they don't give much cover for rented properties, can you advise which company you found the best deal with? As it is in an apartment block, the building is insured through management company.
 
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