Insurance advice

Tax Planning and Financial

I have just bought a couple of flats and wondered what level of insurance I should buy?

Both have buildings cover included with the service charge so I assume I only need contents to cover my own belongings (one is furnished, the other unfurnished) as well as public liability insurance in case a tenant injures him/herself.

Gave the RLA a call and their quote was very reasonable but as the guy said the contents insured are only those which 'if you turned the flat upside down would drop' and therefore doesn't include any fitted kitchen appliances or cupboards, etc. Neither does it include any action by the tenant which may affect a neighbouring property ie flooding lower floor flat (something my agent advised I should get as he'd heard of a case where a landlord was hit with a £25000 bill for his tenants actions)

Any guidance or recommendations would be gratefully received