The role of landlord insurance brokers

Posted: 4th Jun 2014

The role of landlord insurance brokers is occasionally misunderstood.

Here is a quick summary that might help clarify:

  1. insurance providers, sometimes called insurance companies, typically write policies and deal with any future claims that might arise against them;
  2. they are understandably keen to sell their products to the purchasing public;
  3. there is nothing wrong with purchasing cover directly from an insurance company providing that you can be sure that you are getting good, suitable cover and at a cost-effective price;
  4. the problem is, it might be very difficult to establish that unless you go to a significant number of insurance companies and obtain quotes from each of them. Once you have done so, you then need to sit down and painstakingly compare those multiple quotes against each other in a number of different dimensions and not just that of price;
  5. however enthusiastically you approach such a task, it is likely to be time consuming and for many landlords, very possibly rather tedious;
  6. on the other hand, an insurance broker typically has contact with many different insurance providers and knows their portfolios well. Once they see your exact requirements and situation, they may be able to very quickly match it against a selection of policies that they know will be suitable and cost-effective;
  7. this might save you substantial amounts of time, a lot of frustration and also perhaps make available to you options and tariffs that you might not have seen yourself;
  8. the reason that they may have access to special tariffs is simply because some insurance companies produce products that are specifically designed to be offered exclusively through brokers;
  9. perhaps even more attractive is the fact that finding the best landlords insurance broker might not be difficult – many of them operate online;
  10. if you do is select a specialist in landlords insurance, you should also be able to have confidence that they understand not only insurance policies but also much of the specific nature of the landlord business.

So, for all these reasons, it might be worth considering the services that we at Cover4LetProperty can offer. You won’t regret it!