PROPERTY investment has become a much more common pursuit recently, and one which has also broken down the door for other industries. With more people putting their money into homes and flats, landlord insurance has become an increasingly competitive market. This all adds up to better deals for the customer as companies strive for your business.
With greater diversity in the landlord insurance market, it means that policy holders now find it easier to customise a plan to suit their needs.
When you set out to find the right policy for you, it’s a good idea to go online and compare landlord insurance across a range of criteria. That way, you’ll be able to get a good guide on how much premiums cost and what sort of things are included on the policy.
Increased competition means that insurance companies are always eager to strike a deal and you can also call into a few firms operating on your local high street.
If you don’t fancy trekking a number of different insurance offices however, then a visit to a broker is a handy way to get quotes from a number of different insurers all in one go. However, once you bring in a middle man, you will have to pay them a fee, so make sure you factor that in when you are quoted for landlord’s insurance.
Of course, if you’re going to be forking out for landlord insurance, it’s essential that you know what you’re getting for your money. When you compare landlord cover, make sure you find out if liability cover is included and how much you are insured for. You should also make sure that building insurance is included and how much cover there is as well as checking out how much contents cover, if any, is part of your policy.
Also, find out how much excess you will be expected to pay in the event of a claim.
When you are comparing landlord insurance policies, it can be just as important to find out what’s NOT included.
In order to get the most accurate quote, and before the insurer will sell you the policy, you may have to have a valuation carried out on the property. This will give all parties a good idea of how much it would cost to rebuild the property if required.
When you are applying for landlord insurance, you will have to provide your insurer with a number of details relating to the property, including the address and information on the tenants who are renting the house or flat.
Compare landlord insurance and start saving
As a savvy property investor, you’ll always have your eyes peeled for ways to make a few quid. It’s no different when it comes to landlord insurance. Striking the best deal for cover can save you a tidy sum, meaning the costs involved in buying and renting out a property aren’t going to scupper your chances of getting a return on your investment.
Just like finding the rough diamond of a property to polish up, unearthing a low-cost landlord insurance policy will pay dividends.
The best way to keep those costs low and find the best price is to compare landlord policies. Get quotes from as many different providers as you can and see who offers the most for the least.
However, don’t immediately snap up the cheapest policy on offer. It’s vital that you study each one and make sure they provide you with the cover you need and that there are no hidden extras which could jack up the price.
Remember, some insurers could give you a quote which seems higher than the others, but once you see what they are giving you as standard as opposed to other providers who will charge you extra for certain features, you may decide to go with them.
Study each policy and find out what type of damage the building is covered against in each one. Typically, most policies will protect your building against fire, floods or acts of vandalism. Some may include such things as subsidence, earthquakes and terrorism as standard, whereas others may require you to pay a bit more for this extra cover.
Compare landlord insurance policies and rates
Another area to look at when comparing landlord insurance is the content of your property. If you are going to furnish the house or flat, you’ll want to know that the fixtures and fittings are covered. Many policies will have this option in place, however, other items such as beds, carpets and other types of furniture may not be protected.
Also keep an eye out for competitive rates on landlord liability insurance. This is a vital component of any landlord insurance policy, so it’s worth having, but you shouldn’t have to pay over the odds for it.
Liability cover protects you if one of your tenants takes legal action against after they have been injured in your property. Faulty wiring or poor building work could lead to your tenants suffering an injury and if they do bring an action against you, your liability cover will meet the cost of your legal bills and any compensation which may be awarded to them.
If you are going to use a broker to compare landlord insurance, it may be a good idea to use one who specialises in buy to let insurance. They will know the market better than most and will be able to point you in the direction of the best deals.
Even if you decide to do the searching yourself, you must always bear in mind that price isn’t everything. Just because a policy is the cheapest, doesn’t mean it’s the best for you.
Make sure you are always comparing like for like policies and that all of them are providing you with the cover you need.
At BusinessInsured.co.uk, you can compare landlord insurance in a straightforward and simple way. Many of our satisfied customers are constantly checking if they are getting the best value from their policy and comparing the market to see if they can get a better deal elsewhere for their landlord cover.
If you want to get ahead of the game on landlord insurance, simply fill in our straightforward quote form and you’ll have a wide range of competitively priced policies in no time.
So don’t waste any more of your time, and money, with other sites or brokers. Make huge savings today with a quote for landlord insurance form BusinessInsured.co.uk.
Landlord Insurance Comparison at BusinessInsured.co.uk
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