Tag Archives: buy to let insurance quote

Looking for a buy to let insurance quote online

February 2, 2013


Sometimes, online shopping can make things so easy that it becomes possible to forget some basic disciplines when selecting the product concerned.

In the case of looking for a buy to let insurance quote online, it’s worth keeping in mind the following points when you are trying to compare one against another – alternatively, please feel free to get in touch with us at CIA Insurance :

  •  don’t dive in head first.  Because the process is typically so easy, it becomes very tempting simply to click on the purchase button once you have the figures in front of you.  However, remember that the cover provided by a policy may be significantly different between providers and their sites.  As a result, make a point of looking at a number of options before making your final decision;
  •  read any documents referred to by the quotation.  Remember that a quotation might make the price it offers strictly dependent upon certain conditions and assumptions.  If you haven’t looked at the policy document itself and any other paperwork referred to by the quotation, you might not be sure that the price you are looking at will be your final price when you make your purchase;
  •  look at the terms and conditions.  This is directly linked to the above point but perhaps worth picking out individually.  The cover outlined by a policy and a quotation might be significantly modified or shaped by the associated terms and conditions.  If you are to be sure of the protection you are getting for your money and that it is suitable for your particular circumstances, you must take the time to study the terms and conditions carefully;
  •  try to check, independently, the customer satisfaction levels of the provider concerned.  Be cautious about customer testimonials offered on the site itself, as these might not always be entirely objective. Some insurance providers might, being realistic, be unlikely to publish customer reviews that were highly critical of the service received.  So, try to look at independent review sites.

At CIA Insurance we pride ourselves on being able to help our customers find suitable cover and at a cost-effective price. We would welcome your call to provide further information on the above and options that might be open to you.

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Rosy days ahead for landlords?

December 30, 2011


As the old year draws to a close and a new one beckons, the newspapers and airwaves are full of discussion relating to the background economy and what is increasingly being referred to as, the lost decade.


Of course, few people are likely to be totally immune to this and that certainly applies to the average landlord.


Yet out of this, come some distinctly mixed messages for the landlords sector.


There appears to be some evidence that the economic squeeze will continue to make some people reluctant to enter the private ownership housing marketplace and encourage others to leave it, opting back into rentals.  In theory, this may significantly increase demand for private rented accommodation – something that should be good for the rental industry.


This may be exacerbated, though for less positive reasons, by the controversial news that the government intends to push ahead strongly and encourage yet more right-to-buy activities by offering various forms of incentives etc. That may reduce the stock of public rental property available.


On the downside, there now appears to be a general consensus that family and individual incomes are likely to decline in real terms over the next several years ahead.  Putting people’s budgets under downward pressure may well result in additional challenges for some tenants, who may struggle to meet their rental commitments.


Although speaking for landlords en-masse is always risky, it may be safe to assume that none will welcome what may be a greater tendency to encounter rental arrears and tenant viability issues.


Although you may find a buy to let insurance quote that offers a contribution towards a loss of rental income in the event of an insured risk becoming reality (such as a flood that makes your property uninhabitable until repairs are carried out), typically it may not be easy to find financial help when tenants are drifting further into arrears due to the background economic situation.


It remains to be seen whether or not this overall projected position leads to the rather odd prospect of seeing a combined increase in demand and downward pressure on rent, at the same time.


Although some people are predicting relatively rosy days ahead for the rentals marketplace, this may be a little premature and a hostage to fortune in terms of the background economy and its struggles.


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What is included in a buy to let insurance quote?

November 14, 2011


Although Christmas is approaching, it’s probably fair to assume that you may be expecting more than just a buy to let insurance quote!


Having said that, you may find such a quote to be very useful for a number of different reasons:


  • if you are considering entering the buy to let market for the first time, you may be keen to try to ensure that you have protected your asset, as far as is practically possible, against the financial pain of misfortune striking;


  • bad luck in the shape of natural disasters may be just as likely to strike a rental property as it is one that is owner-occupied;


  • however, in addition, rental properties may be at risk of misfortunes that are more commonly associated with landlord and tenant situations, including things such as third party liability claims or malicious damage etc;


  • as a result of these additional risks, if you are contemplating becoming a landlord, it is essential to ensure that your policy is one specifically designed to provide landlords insurance rather than owner-occupier home buildings and contents insurance cover;


  • such cover typically will include protection for your buildings and it may be important to be clear that the policy covers subsidence risks, as this is no longer universally provided, as standard, as may have been the case previously;


  • a buy to let insurance quote should also typically include landlords contents insurance, although in situations where you have let out property on an entirely unfurnished basis, you may decide that you do not need this cover (but it may be advisable to be clear that the buildings cover also includes fixtures/fittings protection and that your definition of fixtures and fittings is on the same wavelength as the policy’s);


  • some landlords insurance policies may provide additional cover benefits, such as financial protection against a loss of rental income in situations where your tenants were forced to move out of your property while you repaired it following a problem arising from an insured risk – such additional benefits should typically be noted on a buy to let insurance quote or on documentation that is associated with it;


  • you may find that some let property insurance providers offer standardised cover irrespective of the postcode where your property is located and this may make understanding quotations that bit easier, however, insurers may reserve the right to look again at the quotation in the event that your property is located somewhere with a known history of flooding;


  • obtaining a buy to let insurance quote is typically straightforward and may take you no longer than a few minutes – it may be time well spent if you are keen to protect your financial interests.
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