It is possible to compare let property insurance on a number of levels but perhaps the most conventional is cost.
Looking directly at the ticket price of any let property insurance is perfectly natural but it may also offer the greatest chance of distraction.
In reality, the price may not, in itself, tell you much about the policy. To really compare let property insurance, it’s necessary to look at what you’re getting for your money – i.e. the cover itself.
You may reasonably expect a policy to provide you with cover against:
- natural disasters such as fire, flood, subsidence and so on;
- the effects of such things on your contents and fittings;
- the effects of burglary and other unwanted forms of human intervention;
- third-party liability risks that may arise if you’re sued for damages.
However, each individual policy will typically have its own limits, exclusions and conditions. For example, while we offer subsidence cover as a standard element of landlords insurance, not all insurers all do. This means that you will have to add the cover in (if the insurer offers it at all) and pay extra.
Some let properties insurance providers may also provide other benefits such as offering certain categories of legal expenses cover should they arise from one of the insured risks.
Unoccupied property insurance
It’s perhaps not always widely known that property insurance, including owner-occupier home buildings and contents insurance, and landlords insurance, typically contains special clauses relating to unoccupied property.
If your property is unoccupied for typically more than 30 consecutive days, you may find that your property insurance becomes invalid unless you have taken out in advance unoccupied property insurance.
It is something that may happen a little more easily than some would suspect – for example during property redecoration or if you are unlucky have extensive gaps between lettings.
Making the decision
In the end, only you can make the decision as to which let property insurance is the most appropriate one for you.
Comparing the details of the cover provided as well as the conditions and exclusions should enable you to reach a decision.
Certainly the price will always be a factor if you are going to compare let property insurance but keeping that in perspective against things such as the cover, may be advisable. Only in that fashion are you likely to be able to decide what is going to give you the protection you need while keeping an eye on cost-effectiveness.
Alternatively, if you need any assistance with choosing or comparing your landlords insurance cover, or you’d just rather talk to a ‘live’ person in order to get a let property insurance quote then please feel free to get in touch, either via email or the telephone. We are always happy to help!