Landlord insurance contents only is the right purchase in one common situation and the wrong one in most others. It is right where somebody else insures the building, which on a leasehold flat is almost always the case. It is wrong where the landlord owns the structure, because then the largest asset is uninsured.
When contents only is correct
A leasehold flat whose freeholder insures the structure and recovers the premium through the service charge. Buying buildings cover on top pays twice for the same structure. What is genuinely needed is contents, property owners liability, loss of rent and tenant damage, which several insurers sell as a flat landlord policy.
Sizing the contents figure
From an inventory of what you supplied, priced at replacement cost: carpets and curtains, white goods, furniture in a furnished let, light fittings. The total is usually higher than landlords guess, particularly on a furnished flat, and underinsurance here is averaged exactly as it is on buildings.
What must sit alongside it
Property owners liability, because the block policy covers the freeholder's liability and not yours to your tenant. Loss of rent. Accidental damage by tenants. A contents only policy without a liability section leaves the largest possible claim uninsured, which is the error this purchase most often carries.
Questions people ask about landlord insurance contents only
Can I buy contents cover without buildings?
Yes, and it is the correct purchase on a leasehold flat where the freeholder insures the structure.
How much contents cover do I need?
The replacement cost of what you supplied, from an inventory. It is usually more than landlords estimate, especially on a furnished let.
What else do I need with it?
Property owners liability above all, plus loss of rent and tenant damage. The block policy does not cover your liability to your tenant.