Landlord contents insurance can cover the cost of repairing or replacing household items like furniture and appliances if they’re damaged, destroyed or stolen. Landlord contents insurance only covers things that belong to the landlord - tenants need to take out their own contents insurance.
Imagine someone broke into your rental property and stole the television you’d provided for your tenants, or the property was flooded and the sofa suffered water damage. Your landlord contents insurance could cover the cost of replacing the TV or the sofa, minus any excess (the contribution you make towards the cost of the claim).
When you choose your level of landlord contents insurance, you need to estimate what it would cost to replace all of the household items you provide to your tenants.
It’s important to understand that landlord contents insurance doesn’t cover gradual ‘wear and tear’ of furniture over time, or anything that belongs to the tenants. Your tenants will need to take out their own contents insurance policy to cover their possessions.
You may also want to include accidental damage insurance to make sure you’re covered if an item is accidentally damaged by a tenant or visitor, for example if wine is spilt on the sofa or an expensive vase is knocked over and broken.