Looking for cheap landlords insurance

Posted: 2nd Jun 2014

If you are looking for cheap landlords insurance, then a few of the following points may prove to be useful in your search, given that we are confident that our service offers features, as standard, that others may not:

  • keep in mind that while searching for cheap landlords insurance is fine, in reality, the price is only one component of many things to consider – basically, what is cheap for one person may not prove to be cheap for another;
  • subsidence – this can be a potentially devastating problem that may, in very severe cases, require the demolition and entire rebuilding of a property, yet surprisingly, not all let property insurance policies offer subsidence cover as standard;
  • malicious damage – although it is something that is, hopefully, rare, nevertheless the costs of repairing damage caused maliciously may be high and not all buy to let insurance policies will cover it;
  • excesses – although a policy may not immediately appear to be an example of cheap landlords insurance, in fact, if you examine what opportunities it has to reduce your premium by taking a higher voluntary excess, you may see that it becomes financially more attractive;
  • protection against ‘trace and access’ costs – not all policies will necessarily offer this form of cover which, essentially, provides protection against costs arising should a tradesperson need to make extensive investigative and exploratory activities to find the source of a problem (e.g. a leaking pipe hidden under floorboards or panelling etc);
  • a loss of rental income – assuming that it was due to an insured risk, some buy to let policies may offer to protect you against the loss of rental income arising should your property become uninhabitable (specified maximum payout levels may apply);
  • full tenant flexibility – not all policies will offer the same degree of cover irrespective of the nature of the tenants that you have in your property, whereas others may not differentiate between private, student or DSS categories etc;

If you are seriously investigating options for cheap landlords insurance, keep in mind that in the event you need to make a claim, the price you have been paying for your landlords insurance may no longer seem relevant. Your primary concern, at that stage, will be what benefit the policy actually provides – which is why it may be advisable to concentrate on that initially rather than price alone.