What is the best buy to let insurance?

January 3, 2012

Landlords Insurance

Before searching out the best buy to let insurance, you may have to spend a little bit of time deciding just what you mean by best.

For example:

  • it may pay not to get too hung up on the notion that price is everything and just look out for cheap insurance for landlords – while price is undoubtedly important, you may need to be happy about the level of landlords cover that your money is buying for you. The best buy to let insurance for you may be the policy which manages to match the cover you are looking for with a price you are happy to pay;
  • to do this successfully, you may need to look beyond the cost considerations and read through the policy documentation carefully to ensure that you are fully aware of what is and is not covered – and don’t forget too that the terms and conditions may also carry a lot of important and relevant information ;
  • for example, you may consider the best landlord insurance to be a policy that covers subsidence and malicious damage by tenants. If you do, you may find that not all policies may provide this as standard – so it may be worth looking out for;
  • similarly, you may have a number of letting properties and may appreciate the option of a multi policy which may be more convenient for you and may also work out to be more cost effective;
  • not all policies may be able to offer loss of rental income compensation for you if your tenants have to move out of your property following insured risk damage that leaves your property uninhabitable pending repair being carried out (eg a flood that causes so much damage that your tenants need to move out);
  • these may be just a few examples which indicate that what may be the best buy to let insurance solution for you  (or the cheapest) may not be best for another landlord who may have very different requirements.
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