UK Landlord Forum / Life

I am about to let a property for the first time and I am not sure what kind of landlord insurance I need. I already have building insurance which is included into the service charge. I am mostly interested in protection against huge financial losses that I couldn't tolerate. Few questions that I need help with:

1. Landlord's Liability Insurance: Does it cover accidents that cause damage to neighbours' property. For example if the fire starts because of oven failure, would it cover my liability to the neighbours? If not what kind of insurance do I need for this.
2. Are there any other types of insurance that you would recommend potentially protecting me from huge losses?
3. I could probably tolerate damage to belongings or fittings, having in mind it would be offset by the deposit. Do you think it is a good idea not to take contents/fittings insurance?
4. Does it make sense to take out legal/tenants default insurance? How effective/cost efficient these things are?

Your opinion on any of these points would be highly appreciated. Thanks!

I'd like to know this too if poss

Does anyone have anything good to say about different companies offering landlord insurance ?
Is there a minimum requirement one should get  ?  Etc etc