Compare landlords insurance – choice is key

Posted: 2nd Jun 2014

As a landlord, you may be keen to protect the investment you have made in your buy to let property. One way of helping you to do this may be to compare landlords insurance to find the most appropriate product for your property.

You may be interested in:

  • levels of landlords public liability insurance – one of the consequences of letting out a property is that there may be people who you do not know well, in and around your property. If they are injured or their belongings are damaged and the cause is related to your property, then they may decide to sue you. Not all landlords insurance may provide the same level of public liability cover and you may wish to ensure that the level provided is acceptable to you;
  • do the let property insurance policies you are comparing, cover subsidence as standard – some, but by no means all, do;
  • reading through the terms and conditions, when you compare landlords insurance, may typically be a sensible step. You may, for example, find that there are terms and conditions relating to unoccupied or empty property insurance. This may be required if your property is to stand empty for a period of 30 consecutive days or more. There may be various reasons for this, including building or refurbishment work, delays in tenants moving in, etc;
  • buy to let insurance policies which include trace and access cover as standard – this means that if a tradesman causes damage while trying to locate the cause of a problem, then this would be covered;
  • loss of rental income cover – if your tenants have to move out of your property if it becomes uninhabitable as the result of an insured event (flood, fire, earthquake storm damage etc) then while repair work is carried out, some buy to let policies may provide you with compensation for loss of rental income;
  • depending on your circumstances, you may wish to remember that not all policies may allow you complete flexibility of choice of tenants – some may exclude students, DSS, etc from cover;
  • when you compare landlords insurance you may also see that some policies may offer more attractive premiums if you agree to accept a higher excess on your policy. Discounts of up to 40% may be available, with ourselves, for example.