There are quite a few types of landlord insurance in Aberdeen and they fall into two categories. Building insurance policies are the ones that provide a benefit when a particular building is damaged and it is paid usually in one lump sum. Contents insurance policies, such as fixtures and fitting, contents insurance policies are designed to cover sofas and white goods by the payment of the premiums.
Either type provides protection for the designated landlord or the owner of the policy specifies. From these two categories, landlord insurance policies can be broken down even further into "loss of rent insurance", and then lower into tenant pet cover, replacement keys, glass, alternative accommodation for tenants, and boiler cover. As you can see, understanding the types out there can be confusing and daunting.
Landlords find better landlord insurance in Aberdeen with the help of one of the best comparison sites in the UK. Let's go over what type of cover you may be looking for.
When you have a rental property in Aberdeen a contents insurance policy is an ideal solution to look after your expensive furniture and other items you want to cover around your let property. If your landlord business takes on students you may want a contents insurance policy if you rent out a furnished flat.
However if you're not concerned about your contents you may want to save money and forget all about a contents insurance because this cover is basically best for items that have a high value. There are many landlords that won't do without a contents policy because they feel safer and it doesn't cost that much every month to make sure you're covered.
If you want to find local information in Aberdeen, try the local council here.
A buildings insurance policy will cover your building in Aberdeen for fire and malicious damage by the tenant or another third party, you may want to consider this policy before you look anything else, if you rent multiple properties out in Aberdeen area you may want to include loss of rent insurance as well, but if you're a smart landlord you will get a guarantor to backup the tenant if they're young or a student in any case.
It's a good move asking for a guarantor for every tenant that applies for a flat or house and you could do without a loss of rent insurance policy, but it is strongly advisable that you do take this cover out if you are a multiple property owner. If you only have one single property you could manage this yourself by making the tenant find a guarantor, I talked about a guarantor a lot because this really is the best way to secure your rental income.