The importance of shopping around for you landlord cover

May 7, 2012

Landlords Insurance

When you first purchased your buy to let property, you may not just have bought the first property you saw. In all probability you visited a number of properties before making a purchasing decision.

You may have been looking at features such as location, size and condition and may have matched these to your expectations about the types of tenants you hoped to have in your property.

Properties suitable for letting to students or DSS recipients, for example, may be very different to ones that you may wish to let to professional couples or friends sharing. These may be different again to properties that may be suitable for families.

You may also have taken into consideration proximity to public transport links, parking facilities and entertainment options.

Price would typically have been important but may not have been something that you could consider in isolation to some of these other factors.

The same may be true if you are looking for insurance cover for your buy to let property.

When looking at a landlord insurance quote, therefore, there may be more to consider than just whether it is the cheapest buy to let insurance quote.

You may also be looking at features like:

  • what sort of provision is made for public liability  – some policies may be able to offer up to £5m;
  • is subsidence cover standard in addition to the typical perils like fires , flooding, storms, vandalism and earthquakes etc;
  • does a particular policy actually allow you the freedom of choosing your own tenants – some may not cover students, immigrants or DSS for example;
  • if your property is damaged, would you have the protection of loss of rental income cover if your tenants had to move out while repairs were carried out;
  • if you have a number of properties then your life may be busy enough without the additional overhead of trying to manage a number of different insurance policies for each – using a multi-property portfolio policy may help remove this headache by offering one point of contact for one policy.

Shopping around using the online facilities on our web site may help you to find what you are looking for.

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