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Home insurance must: Loss of rent for landlord, liability cover for tenant
Insuring contents is critical if a property being rented is furnished; declare valuable items to insurance company
Himali Patel Mumbai
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Home insurance policies nowadays are highly modular. In SBI General's Flexi Home Insurance, for instance, only fire cover is mandatory. Customers can thereafter select whatever covers they need. To do this, however, landlords and tenants must be aware of the covers that are relevant to them.
Must-have covers for landlords
Landlords must insure their buildings. 'It should be insured against perils such as fire, earthquake, storm, flood, landslide, riot, terrorism, and so on,' says Subramanyam Brahmajosyula, chief product and marketing officer, SBI General Insurance.
Contents insurance is essential if the property being rented is furnished. 'The cover could include furniture, appliances, and
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