Do I need insurance for the contents of the house?
If you furnish the house you are renting out then you will need contents insurance to cover the furnishings you provide only. All furniture, fixtures and fittings that you supply will need to be covered by your landlord insurance in case of an accident.
However the tenants are responsible for insuring anything that they bring to put into the house. Any items they keep in the house whether it is furniture or valuables will need insuring in case of theft, flood or fire damage.
Most insurers will include cover for floorings, carpets, fittings etc. you can agree an amount often around £5000, depending on the value and size of your house. This can be increased accordingly say if you had your house refurbished.
If there was an insured accident then your insurer will pay out the value of the contents you had covered so that you can afford to get the house to a liveable state again. This will reduce your loss of earnings and hopefully get tenants back into the property again in a shorter amount of time.