Take care of your contents
When you are running a business it is always possible that certain things may slip under your radar - after all, you're only human. If you are a commercial property or residential property landlord, then you are, no doubt, under pressure to make sure that your premises are up to scratch and that everything conforms to all the necessary codes and legislation.
For instance, if you are a residential landlord, you must ensure that all the necessary furnishings adhere to regulations regarding fireproofing. Since 1997, it has been a legal requirement that all upholstered furniture provided in furnished lettings must meet with the Furniture and Furnishings (Fire) (Safety) Regulations 1988.
The requirement applies to domestic items of furniture only, and includes items such as: beds, mattresses, futons, pillows, cushions, sofas, easy chairs, seat pads and seat coverings (including those supplied with cane furniture).
Don't forget the contents
Alongside Buildings insurance and cover for public liability (also referred to as property owners liability) or employers' liability, you need to be aware of the property that you might leave on the premises for your tenants to use. For instance, all the furniture and furnishings mentioned above, plus a kitchen full of white goods.
Now imagine if there was a fire in one of your premises and all the furniture was destroyed, how much would it cost to replace everything?
In the same way that you would have contents insurance for your own home, you should also consider talking out contents insurance for properties and premises that you rent out for residential or commercial reasons. And Direct Line for Business can do just that for you.
We have policies for commercial and residential property that can cover certain contents as part of an optional cover. So in the event of fire, storm, flood a whole host of other qualifying incidents, you can be sure that your contents are insured and can be replaced.
Making sure that the contents in your rental properties are covered by the right business insurance policy will give you the reassurance that you will be able to pick up the pieces should you need to make a claim.
Related information:
Contents insurance - additional information on the different types of contents cover that can be added to our standard cover options.
Buildings insurance - both types of our landlord's insurance - residential and commercial property - contain buildings cover as standard.
Loss of rent - find out how you can get cover if your building becomes uninhabitable due to an insured incident (for example a fire) and means you cannot rent the property out.
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