Landlord Buildings Insurance
Building insurance is a specific type of landlord insurance that pertains to the actual structure of the property. Premiums for building insurance are set according to the age and structural quality of the house, and factors such as location and potential risk of fire are also included in these calculations. A new house is less likely to be damaged than an older house, as an older house is more likely to have poor wiring and problematic water pipes and plumbing systems. A newer house will benefit from safer wiring and more recent technological advances in structural and architectural decisions.
Buildings insurance tends to cover all of the fixtures and fittings within your property, although flooring and carpets normally fall under the jurisdiction of contents insurance. If you are looking to take a buildings-only cover (for instance, if you are letting a property unfurnished), it is important that you specify factors such as flooring in the policy or else take out some additional contents insurance.
Landlord insurance can be obtained as a policy that includes both building insurance and contents insurance in one package. Consider all of your options, as different people will quote you in different ways. Having separate building and contents policies might sometimes work in your favour.
You can help to protect your property from having to claim on your insurance by following some basic common-sense steps to keep your property safe, such as making sure to install deadlocks on doors and key locks on the windows.