How to find cheap insurance for landlords

December 6, 2012

Landlords Insurance

The subject of cheap insurance is one that crops up fairly frequently when landlords are talking about industry-related issues:

  1. it is worth keeping in mind at the outset, that basing your selection of insurance upon which provider offers the lowest prices might be risky.  Try to remember that ultimately it is what your policy covers that might prove to be critically important to you, not how much you have been paying for it.  Therefore, try to select a policy based upon the cover it provides before starting to think about the price;
  2. of course, the advertised price of a policy will typically always be a factor in your selection.  Yet try to remember that selecting cheap insurance for landlords without being sure about the quality of the cover provided, might one day prove to be literally financially ruinous to you and your business;
  3. sometimes landlords overlook the fact that they may be able to have a significant effect on the final price of their policy. It is always a good idea to talk to your insurance provider about what opportunities exist in the policy for obtaining discounts;
  4. perhaps one of the best examples of that arises in the area of the excess.  The excess is a sum of money that you agree to pay towards any future insurance claims and typically the larger the amount you agree to contribute is, the greater the reduction you might see in your insurance premium.  This might be something worth considering if premium cost is particularly important to you;
  5. you may have other options that might become apparent with a little lateral thinking.  For example, it is not unusual to find landlords paying for buildings and contents insurance in a situation where they are letting their properties unfurnished.  That is something that might be worth questioning if you find yourself in a similar position.

At CIA Insurance we understand very well the economic pressures and uncertainties that are prevalent in today’s landlords’ business environment.

We will be only too happy to use our expertise to try and help you find an effective but economically suitable solution for your landlords’ insurance requirements.



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