Buildings insurance is a must for any property owner, especially so for let properties where you’re not there to personally keep an eye on your investment. When insuring your building, it’s important to remember that the maximum amount that the insurer will pay in the case of a claim is the amount shown within your policy schedule. The sum insured should represent the full cost of re-building/replacing your property.
If your let property is furnished or you’ve left items in the property for use by the tenants, you’ll want to make sure the contents of the property are insured against common risks such as fire, flood and theft. You should insure your properties contents for the full value and not simply the maximum amount that you think could be damaged or stolen at one time.