Why you may benefit from a let property insurance comparison

August 3, 2012

Landlords Insurance

With costs for most things creeping in an upward direction everyone, including landlords, may be looking for ways to keep a handle on expenditure.

This could be achieved to some extent by cutting back on luxury or non-essential items and perhaps economising a little on electricity, gas and the like. One area though where it may not be prudent to economise is that of landlord’s insurance cover – particularly if this compromises the level of protection offered.

It may still be possible to make some savings though:

  • shopping around and carrying out a let property insurance comparison before buying a policy can provide you with essential information and not just about the premium;
  • you can compare just what is and is not covered on a number of policies and this can help you to make an informed  choice about the protection you want for your property;
  • you’ll typically find that there are some significant differences and some of these could involve cover that you consider to be essential. At CIA insurance we would be only too happy to assist you in finding your preferred cover;
  • subsidence for example is not always covered these days and you may wish to select your buy to let cover from those policies where this is provided as standard;
  • not all let property insurance may offer you compensation for loss of rental income if your tenants move out while you carry out repairs to damage to your property caused by an insured event like flooding, fire etc. There are policies which do though – up to agreed limits and these may be worth looking out for;
  • malicious damage by tenants may not be something that happens often but if it has happened to you in the past then you may prefer those insurance policies which provide cover for this as standard;
  • you may also appreciate the freedom of letting to whatever category of tenants that you choose without having to worry about whether or not that invalidates your insurance cover.  We may be able to help you find a policy which covers categories such as students, DSS recipients and immigrants as standard.

So, finding a little time to consider your position might be useful.

A relatively simple set of comparisons might result in you obtaining more suitable and cost-effective cover.

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