Tips on finding landlord insurance in Ireland
If you're a landlord, you'll no doubt understand the multitude of risks involved. There are any number of things that could go wrong when you lease your property out to a third party, and it's only sensible to ensure that you're covered for every eventuality.
To date, there are very few companies in Ireland offering specific landlord coverage, with most instead simply suggesting that you take our their home insurance. While this will cover you for a lot of the day to day stuff, it may leave you open on a number of fronts.
You might find yourself without coverage for any malicious damage caused by a tenant for example, or liable for any injuries sustained by the tenant or tradesmen carrying out work while on your property.
There are many questions you need to ask to figure out if a home insurance policy is up to the task of providing you with everything you need as a landlord. The absolute minimum that you should be looking to have on any policy is third party liability cover, contents cover, loss of rent cover and building cover.
Without the above, you could find yourself in serious trouble should an accident occur, and the last thing you want is to find yourself facing huge legal bills in light of insufficient insurance coverage.
You should be able to reduce your insurance premiums by following a few easy steps. Safety is the name of the game when it comes to this type of insurance, so make sure that your property has working fire alarms, fire blankets and fire extinguishers, a burglar alarm and security locks. This will cost you quite a bit of money initially, but the insurance savings will pay for them over time.
Best of luck to you on your search to find landlord insurance in Ireland.