Can you imagine what would happen if at any time a fire disaster struck your rented property and spent all the buildings and assets in it at once? This incident would be very scary as the property must be one of the sources of your income that it will cut down what you can get if the property cannot be used. However, by having landlord insurance, even a cheap landlord insurance, you will be able to reduce your loss.
If you do not have the landlord insurance, then any losses arising from the event will be your own responsibility. It might be easy if you have enough funds, but what if you do not have the funds for that sudden accident? So you can be sure you and your family will be slumped and experiencing financial difficulties and disruption in handling jobs that bring a steady income each month. Otherwise, by having the landlord insurance, there is no need for you to be worried about the money to repair all the problems as the insurance will be the one to cover for it.