Who is Responsible for Building Insurance Landlord or Tenant?

Hi there, I can tell you who is responsible for building insurance landlord or tenant. Being a landlord in Kolkata, I can say that the building insurance is taken by the landlord of the property. 

It is essential to take the building insurance whether you rent it out to a tenant or not. Let me tell you more about the building insurance in detail.

What are the Benefits of Building Insurance?

Here are some reasons you should take building insurance for your property.

1. One of the main reasons why you should go for building insurance is that the policy covers the repair and rebuilding costs against natural calamities. So you’ll be safe from any financial loss.

2. Another benefit of such insurance is the protection of the value of your building. By covering the repair and rebuilding costs, the value of your property is maintained. So, your asset won’t lose value in the market. 

3. Any insurance gives you peace of mind that your asset is protected against any unforeseen events. 

4. Apart from protection against natural disasters, the policy covers manmade risks like robbery, vandalism, etc. 

This is all I have to share with you. I hope you find this information helpful:)