This article will explain what content insurance for homeowners is and what are the uses of this type of insurance policy for homeowners with rented properties.
All homeowners should consider this type of coverage for any property they own or rent.
Why is this type of insurance available?
The owners buy furniture for rental properties, this is an investment, and the investment needs are covered, like any type of investment. Some home contents are high value and some are not, owners must decide what, if anything, really needs protection.
I need it?
If your content is worth more than £ 2,000 or more, you might consider taking out insurance. On the other hand, you may not need it because items can be replaced cheaper by buying them from a thrift store or online.
If you have high value content that is worth around £ 10,000 and up to £ 75,000 then this insurance is worth every penny as replacing items like these can be very expensive.
How much will it cost me each month?
Everything differs from property to property and how much your furniture and accessories are worth. Policies can range from £ 20 per month to hundreds of pounds per month for very high value items.
Can I bring only cover content?
With many insurers, you can take on this policy on its own to cover the contents of your building and not the building itself. This means that you cannot claim for any other accident or liability, as only things like carpets, sofas, kitchens, refrigerators and the like can be claimed on your policy.
What is not covered?
As before, different policies have different terms for owners. Some companies will cover items that other companies will not; You just need to ask the insurance company for clarification on what your policy actually covers.
Most furniture is covered, and other things like light fixtures, interior doors, and hardwood floors should be included in the policy.
Can I add other types of insurance in the future?
When you buy a content-only insurance policy, if after a while you move abroad or move hundreds of miles away, you can add rental loss protection and get a real estate agent to take care of your property.
Once this is done, you know that your rental will always be there and that someone will take care of your home while you are away.
