Insurance for rental

[humphrg2]

Im in the process of renting out my place and Im trying to get everything (register with the PTRB etc) ready, Ive just rang my insurance co. to change over the insurance. There is a condition at the back that says accidental damage is not covered. What does this mean. Does this mean leaks etc are not covered. Im wondering whats the use of it if it doesnt cover this stuff as my management fees cover the building insurance. Any feedback would be welcome.

 

[Ravima]

Accidental damage si usually damage caused by your negligence to contents, could be spilling paint, dropping TV etc. it would be normal to drop AD cover if the house is rented.

 

[twofor1]

Im wondering whats the use of it if it doesnt cover this stuff as my management fees cover the building insurance. Any feedback would be welcome.

The main reason I have contents insurance on a rented apartment is my ‘’Legal Liability To Third Parties’’ is also covered on this policy.