If you're renting out your property on an Assured Shorthold Tenancy (AST) it pays to make sure you're covered with the right landlord insurance and if you’re using an online letting agent to rent your property, you will need to make sure this box is ticked. Assuming that a regular home insurance policy will be enough just won't cut it. Landlords insurance typically includes buildings insurance, as well as a number of extras specifically tailored to your situation.
It is not a legal requirement to have landlords insurance in place. However, given the sums of money that many landlords have tied up in their investments, it's often seen as advisable to protect your investment as much as possible and landlord insurance will help you achieve this.
You will receive a bespoke quote based on factors such as the value of your property, the type of tenants and the type of agreement they have and the level of cover you require.
It depends on your policy. If you are renting out a furnished property it's wise to at least consider taking out contents insurance to protect your property. If you're renting an unfurnished property to your tenants, you may prefer to leave this to them to protect their own contents.
If you own more than one rental property you might be able to get a discount on your landlords insurance if you insure them with the same provider.