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If you own and rent out a property then it’s important that you have landlord home insurance. Here's how to get the best policy for the best price.
Just as you’d protect your own home against fire, flood or accidental damage, buildings insurance for landlords ensures that your rental property is also fully covered.
You might also want to include contents insurance if you rent your property furnished or you have provided electrical or white goods in the property.
Whatever the type of property you let, it’s important that you seek out specialist landlord insurance. This is because if your property is let, a traditional home buildings and contents policy is unlikely to pay out in the event of a claim.
Looking for landlord insurance compare these factors:
There are dozens of landlord home insurance policies in the market, this gives you plenty of choice and opportunity to cut the cost of cover.
There are a number of important factors that you should take into account when you compare house insurance for landlords, including:
- Whether you want both buildings and contents insurance. Landlord buildings insurance is vital (and may be a condition of your ‘buy to let’ mortgage) while contents insurance may only be important if you have possessions of your own in the property
- Is ‘rent guarantee cover’ included? This protects you against your tenants failure to pay rent
- What the policy excess is (the amount of any claim that you pay yourself). Higher excess amounts can lead to cheaper house insurance for landlords, but it will mean that you will have to pay out more if you do make a claim
- Is accidental damage cover included for either building or contents? If so, is this a benefit that you'll use?
- Does a maximum amount of cover apply under the buildings or contents elements of the policy?
Why you should shop around for a cheap landlord insurance quote
Carrying out a landlords insurance comparison is a must when you're looking for cover.
Shopping around can help you find a cheap landlord insurance quote and can also assist in researching the quality of the cover available. While saving money may be your priority, making sure your property – one of your most valuable assets – is adequately protected is also extremely important.
For this reason when you're looking for landlord insurance compare the features and benefits as well as just the cost.
It's usually cheaper to buy contents and buildings insurance for landlords online as many insurers offer an online discount.
So, once you've found the landlord insurance policy that gives you the most suitable cover for the best price, simply apply online and enjoy the peace of mind that your buy to let property is fully protected.
