Landlord Tenant Insurance

landlord tenant insurance

Get educated on landlords home insurance

Everyone that has ever considered home ownership (especially if the home is going to be not only an investment but also an income producing asset) has thought long and hard about getting the proper coverage for that asset. As they factor in the various costs associated with buying, owning and renting a property, they are careful to include the cost of protecting their investment. Even without the tough economic times that we now face, an investment of this nature and scope is likely to be the largest that most of us have ever endeavored and losing that investment would ruin most. After all, it’s not a purchase that we take lightly.

Protecting that very valuable asset will be made considerably easier with a good landlords insurance policy in place. It’s not hard to think of all of the calamities that could easily befall a property owner with little or no landlord home insurance cover. If you let your mind wander for just a moment, you can probably think of several ways that your property – hence your years of hard work – can be wiped out in mere moments. When you factor in the risk presented with someone other than yourself dwelling in your property; the risk (and likelihood) of disaster starts to rise exponentially. Research has continually shown that household accidents are much more common among renters as opposed to property owners.

Signing on with an agent that supplies a good landlords Home Insurance Policy will help cut down on your degree of risk and help insulate you from the accidents and calamities that can easily befall a landlord without landlords insurance. A good policy will protect you from more than just fire, theft etc.; In the event that your tenant or a visitor is harmed on the property, you’ll be covered as well. Someone stumbles and trips down the stairs – you have no worries. A tenant forgets that it only takes minutes to boil and egg, and accidentally causes hundreds of pounds in smoke damage – you’re covered.  Moral of the story; without landlords insurance, a property owner may as well put up a steel fence, install asbestos walls, lift the home up high on stilts and pray for no lightning!

Is a landlord liable for stolen property from the communal bike locker?

My son rents an apartment and was told by the landlord/caretaker that he is not allowed to keep his bike in the apartment but to store it in the communal bike locker. Turns out my sons bike was stolen from said locker. Is the landlord responsible for replacing the stolen bike? My son has tenant insurance for the apartment contents, etc. however due to the fact the bike was not in the apartment is the landlord liable for it???

I can understand a landlord not wanting the bike on a patio or balcony, but the apartment itself? It is like telling me what kind of furniture I can put in my apartment.
Did it have a lock on the bike? I don’t think the landlord is responsible and my next bike would be in my apartment. Unless of course they agree to pay for the bike being stolen.