Have you checked your landlords insurance policy recently? One thing to look out for when you next check it is the inclusion of malicious damage by the tenant cover. It still shocks me how few insurance companies actually include it on their policies. The ones that do offer the cover, most will class it as an “add-on” or “extension” to their policy and charge the customer extra for it. Ashburnham has a panel of insurers, most of whom have malicious damage by tenant cover included as standard.
For me, this cover is vital as a landlord. If you don’t have the cover and your tenant decides to wreck your house, you’re going to be the one paying the bill, especially if your tenant disappears off the face of the planet which is pretty common if they have done such a thing. When we speak to people making these sort of claims, it is presumed that this cover is normal. When we tell them that most other insurers don’t have this sort of cover, they are shocked (and obviously pretty pleased they have a policy with us). I can’t imagine being on the end of a phone call from a landlord trying to make a claim for malicious damage by their tenant and having to tell them that their policy doesn’t cover it.
Don’t be mistaken when you see that your policy has malicious damage cover. All policies should show that malicious damage by persons not lawfully allowed in your property is covered but obviously this does not include your tenants. Always take out a policy that specifically says that malicious damage by tenants is included. You shouldn’t have to pay extra for such cover in my opinion as this sort of protection is what makes it a landlords insurance policy what it is.