Where to find cheap insurance for landlords

November 30, 2012

Landlords Insurance

In an economic climate where steadily rising overhead costs may be making it difficult to make a success of practically any business, of course many of us may be looking for ways to reduce those costs – the expense of insurance cover for buy to let properties may prove such a case in point.


Although you may be – quite naturally – looking for a bargain when it comes to arranging the insurance for your residential or commercial let property, it may be worth keeping in mind that one person’s bargain may be another’s overly costly expense. “Cheap” is likely to prove a relative term and what is affordable for one landlord may be entirely less so for another.

In other words, it may all depend on your particular, individual needs. You may want to keep these uppermost in your mind, therefore, when tracking down cheap insurance for landlords – so that you secure the specific and comprehensive cover you need, at what may be a competitive price.

Comparing policies

When comparing landlords insurance you might home in first on the relative cost of the premiums for what are likely to be the principal elements of cover – safeguarding the structure and fabric of the building itself, together with its associated contents.

Even here, though, it might pay to take a careful look at just what risks are covered in the price you are paying for the premiums – some insurers, for example, offer selected “all risks” policies which automatically extend cover to the peril of subsidence. Others specifically exclude this potentially devastating risk.

Similarly, you may find selected policies that extend cover for loss or damage to the buildings or contents to include not only the conventional risks such as fire, storm damage, flooding, impacts or theft, but also with respect to accidental damage. Still other policies may include protection against the risk of malicious damage – by your tenants or others.

If yours is a residential let property, you may also need to take into account the types of tenant with whom you may be making agreements. Some insurers, for example, may make clear their unease about tenancies granted to certain groups; others maintain the same level of insurance cover irrespective of whether tenancies are likely to be with professionals, students, DSS claimants or asylum seekers, for example.

For the cost-conscious landlord owning several rental properties it may also be worth investigating the discounts obtainable from certain specialist providers of multiple property insurance.

Considerations such as these – and several others – might help inform your search for the most competitively priced insurance for landlords.



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