Looking at let property insurance online

Posted: 4th Jun 2014

Letting out a property for the first time may be a bit of a nerve-racking experience. Making sure that everything is done and ready on time may be made a bit easier for you if you are able to arrange your let property insurance online.

After providing a few details using our online facilities, we may be able to show you some buy to let insurance quotes tailored to your requirements, so you can choose and purchase online the one which you feel most closely matches your expectations.

Of course, not all landlords may require exactly the same levels of cover.

If you are letting your property out on an unfurnished basis, for example, you may not need landlord contents cover.

Even for those aspects of landlords insurance that all landlords may require though, like buildings cover and third party liability, there may be significant differences in the levels of cover on offer from different providers. So taking some time to read through what’s on offer from let property insurance online may be important.

You may find, for example, that:

  • levels of landlords public liability protection may vary considerably, with some policies being more generous in this area than others – which might be important given the potential size of some court awards for damages;
  • policies may not all cover damage from subsidence as standard, so this may be a feature that you may need to look out for if you consider it to be an essential part of your insurance cover;
  • some policies may offer you financial protection for loss of rental income, up to certain limits, if your tenant have to move out of your property while repairs to damage caused by an insured event (flooding, fires, smoke, storms etc) are carried out.

Another area where you may wish to fully understand your position is in the situation where your property may be standing empty for extended periods of time. This may be due to:

  • problems finding new tenants or delays in them moving in;
  • building or refurbishment work overrunning;
  • legal proceedings like divorce or probate; etc.

If the period of time extends beyond 30 days, then you may find that your landlord policy may need to be supplemented by some unoccupied property insurance, which is specially tailored for those risks that may be more prevalent when your property is empty.

Understanding what is available in the insurance marketplace to help you protect the investment you have made in your property, may be important to the success of your letting business. A short time spent looking at options may then allow you to take finding let property insurance online, off your list of things to do.