Let property insurance companies assess risks in different ways depending upon the risks concerned. Let property insurance is all about statistics and claims. If your property has factors that may attract more claims, or you have a previous high claims history; then unfortunately your premiums are expected to be higher.
Let Property Insurance premiums may be affected by the following:–
- Where the let property is located – all let property insurance companies use postcodes to assess this risk. A number of areas for example, with high crime rates, or in flood areas will affect the let property insurance premium or possibly the excesses.
- The Sums Insured – rebuild or reinstatement costs can increase let property insurance premiums if they are estimated. If the property is listed building or in a conservation area, it is exceptionally important to have the correct building sum insured for your let property insurance.
- The tenant you let your property to can also affect the let property insurance premium. HMOs housing students and DSS tenants are deemed higher risk by let property insurance companies.
- The year your property was built could possibly influence the let property insurance premium, as older building materials and standards of construction have a chance of being a higher risk for let property insurance companies.
- A previous high claims history is expected to inflate the let property insurance premiums.
We specialise in let property insurance and unoccupied property insurance, so feel free to obtain a quotation at www.cover4letproperty.co.uk or contact us on 0800 970 7172 for further information.