What Happens If My Building Insurance Policy Does Not Cover the Cost of view link My Claim? If you own a house and youre thinking about renting against each other, you should think of getting hired insured. As a landlord you will need to realize that there are some specific risks to take into account knowning that a straightforward insurance wont do. The best thing to complete is to buy landlord building insurance. This is a specialized sort of insurance that is made for landlords only and meant to cover for the specific risks associated with building owners. 1) What perils are covered? Perils is the term business insurance companies call the possible dangers that can cause damage or ruin to your building. Possible perils are earthquakes, burglary, theft, vandalism, fire, and water damage. Not all policies are created equal and whether a particular peril is roofed, depends upon the organization and policy you ultimately choose. Building Insurance is mainly a coverage that covers the key structures in the building and the built-in features from the building, e.g. the wall, roof, doors, built-in kitchen cabinets and bathroom suites. Some insurance plans do cover the outdoor features at the same time like the garage, gazebos and the shed inside lawn. An adequate building insurance should cover the entire price of repair or build in the event of disasters like storm, falling trees, earthquakes or flood and accidents like fire, bursting pipes or possibly a vehicle crashed in to the house that can damage the structure from it. Before you go off in your cheap building insurance hunt, you will have to be clear about your requirements. Do you have an outside fixture such as a greenhouse, a garage, or an outhouse? In that case, gradually alter get yourself a policy that covers these too. You may also have a pool or an extensive garden, that might not be covered under most policies. So make certain you know the needs you have very clearly, otherwise you could end with uninsured property. In most cases, gradually alter get insurance providing you with coverage not just against earthquakes but in addition against any loss or theft. This way, you will be covered for any losses that may happen on the immovable objects inside property like wardrobes, bathtubs, etc. along with earthquakes. If its satisfaction you would like, here is the policy you will need.