Landlord Insurance Comparison, a guide.
THE amount of landlords in the UK has increased dramatically in recent years with many more people putting their money into buying property.
While for many this is a long-term investment, everybody is looking to save money where the can and that includes landlord insurance. With more and more people renting out house, the market for the landlord’s insurance has become much more diverse and competitive.
It can be a bit mind-boggling, but don’t worry, BusinessInsured is on hand to guide you through the process of getting the right cover and making sure you get the best deal.
Of course, no two houses or flats are the same, so no two policies will be the same. A good starting point is the internet. Go online to get an idea of prices and what different policies include, this will give you a good guide when you start comparing landlord insurance.
You can also pop into a few insurance companies on the high street, and there’ll be many crying out for your custom. However, that can be time-consuming and tiring. If you still fancy the face-to-face aspect, you can go and speak to a single broker or financial advisor who will search a number of insurers for you. Although, many of them will charge a fee, so make sure you factor that in to your final price.
Comparing Landlord Insurance – What to look for
When you are comparing landlord insurance plans, there are number of things to take into consideration. The key areas of cover you need to look at are:
• Liability Insurance
• Building Insurance
• Contents Insurance
You need to find what extent of cover is included in each of these cases. You’ll also need to find out if there is an excess to pay and how much it is.
It’s just as important to find out what’s not included in a policy, so study each one to make sure the cover you are comparing is like-for-like.
When it comes to applying for your insurance be prepared to have a valuation report completed on your property, this helps the insurer list the value to rebuild the property if necessary.
The insurer will also want to know the property’s postal address and the type of tenants you will be letting the property to, all of these factors will have an effect on the premium calculation.
What may suit other landlords probably won’t meet your needs or requirements. You’ll also find that what is included as standard on some policies might just come at extra cost on others as no two loandlord policies are the same.
If you need help sifting through landlord insurance policies, give our expert team a call on 0800 1073404. You can also search through a wide range of quotes at BusinessInsured today.