I have multiple properties rented with only the block insurance. I take a chance.
You should read a previous post above on landlords liabilityMight be a silly question but would it be worth contacting Management company to see if Block policy covers public liability within apartment?
And who pays if you have a burst water pipe in your apartment and that affects the apartment beneath - new flooring, possible repainting not to mention possible hotel expenses for the tenants below as well as your own tenants, plus the damage to your own apartment. Or if your own tenants have a fire in the apartment causing smoke damage to several units. This is not usually covered by the block insurance which is there in case the block falls apart. Also, block insurances very often have a high minimum claim of 5 grand or similar. In any complexes I've lived in, that was the case.I own an apartment which is rented out, I have taken out no insurance on it. Buildings insurance covered by management fees, I wouldn't be too concerned about insuring contents, if damage/loss I could cope with it. My main worry would be liability for accident etc. within apartment, presumably not covered by buildings insurance. Is it worth taking out policy just for this, I feel I have done everything to comply with regs and create safe environment, would there be any other benefits? Do insurers sell these policies directly or is it necessary to go through a broker? Thanks
I have read the above post. I am paying for block insurance through my management fee. If this covers me fully for public liability I don't want to take out another policy to insure me on the double. That's why I asked the question.You should read a previous post above on landlords liability
Maybe you could answer who pays in those scenarios. Googling landlord insurance doesn't provide the answers.And who pays if you have a burst water pipe in your apartment and that affects the apartment beneath - new flooring, possible repainting not to mention possible hotel expenses for the tenants below as well as your own tenants, plus the damage to your own apartment. Or if your own tenants have a fire in the apartment causing smoke damage to several units. This is not usually covered by the block insurance which is there in case the block falls apart. Also, block insurances very often have a high minimum claim of 5 grand or similar. In any complexes I've lived in, that was the case.
Google "landlord Insurance" should come up with some answers.
And tenants should insure their own property within the apartment.
I have read the above post. I am paying for block insurance through my management fee. If this covers me fully for public liability I don't want to take out another policy to insure me on the double. That's why I asked the question.
I've just googled "landlord Insurance Ireland" and have come up with at least 7 companies who do landlord Insurance. Phone or write to them and see exactly what they offer.Maybe you could answer who pays in those scenarios. Googling landlord insurance doesn't provide the answers.
Tax deductable is all well and fine IF you make a profit.Don't forget Ligon it's tax deductable.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?