What Are the Exclusions from Landlord Insurance?

Landlord insurance is a type of general insurance coverage available exclusively for property owners. It is a handy coverage that allows homeowners to keep their property safe when renting it out to tenants.

Common Coverage in Landlord Insurance

1. Fire damage

If your home is damaged in a fire, you can expect compensation from the home insurance provider.

2. Burglary

In case there is a break-in, resulting in damage to the property, your insurance provider will pay out the claim amount.

3. Accidental damage

All losses incurred due to accidental damages are covered under a house insurance plan. Read the policy wording carefully to properly understand this scope of coverage.

4. Natural calamities

Damages sustained due to natural calamities such as floods and earthquakes can be quite harsh. Get a home insurance plan and keep your property secure against such damages.

5. Riots and terrorism

If your home is damaged due to manmade hazards like war and terrorism, your insurance provider will compensate for the damages incurred.

Exclusions in Landlord Insurance

While there are some excellent covers in a landlord home insurance plan, there are some exclusions as well such as:

1. Willful misconduct

Any damage to the property due to purposeful wrongdoing will not be covered. If the house is deliberately damaged, you cannot make a claim.

2. War

Any damage stemming from war-related activities is not covered under a standard house insurance policy.

3. Precious collectibles

If you lose precious home collectables such as antique furniture or expensive artwork in a calamity, you won't get any compensation.

4. Old items

Items in the house that are older than 10 years will not be covered under such an insurance policy.

5. Consequential loss

All forms of consequential losses are permanently excluded from a landlord insurance policy.

FAQs

1. Is home insurance very expensive?

Home insurance is one of the most economical forms of insurance. You pay a small amount of money to protect your home worth lakhs.

2. Do tenants require home insurance?

Landlord insurance is mainly for homeowners who have rented out their properties, so tenants may not require this plan.

3. Is home insurance available online?

Yes, like all other forms of insurance, home insurance is also available online.

Conclusion

As you can see, landlord home insurance is very beneficial. If you are a property owner, get a good policy right away and enjoy all the benefits. You can buy a policy online in just a few minutes so get going!

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.