Where to find the cheapest landlord insurance quote

Posted: 4th Jun 2014

If you simply buy let property insurance cover based on the price alone, then you may certainly end up with the policy which had the cheapest landlord insurance quote but what you may not have is a policy that is appropriate for you as a landlord or your property:

  • different landlords have different properties and may therefore have a different set of requirements when it comes to finding their landlord insurance;
  • let property insurance providers recognise this fact by offering policies with varying levels and elements of cover, some of which may be more appropriate for you as a landlord than others;
  • the decision that you may make about what you may consider to be the cheapest landlord insurance quote may be very different to that of another landlord who may have a different set of requirements;
  • comparing the actual levels of cover offered by buy to let property quotes may be the only sure way you have of assessing how well or otherwise the quote matches not just your pockets but your needs as well;
  • some policies may include subsidence cover as a standard component in the insured events (other events may typically include flooding and storms, fire and smoke damage, earthquakes etc);
  • you may find that there are policies available which may be able to offer you compensation in the form of loss or rental income cover, if your tenants have to move out of your property should it suffer damage to the extent that it becomes uninhabitable;
  • if you tend to have a wide tenant base then you may wish to look out for those buy to let insurance policies which may offer you cover which is not dependent on the category of tenant that you let to – some may exclude students or DSS for example and you may find this too restrictive;
  • some policies may offer the peace of mind that should you be unfortunate enough to have tenants who maliciously damage your property, the repairs may typically be covered;
  • a final aspect to consider when looking at the cheapest landlord insurance quote is the provision it makes for periods when your property may be standing empty for extended periods of time;
  • some may stipulate that if this period extends beyond 30 days then your cover may not be valid and you may need to obtain an unoccupied property insurance quote;
  • this is not something that applies only to landlords however and you may typically find that there are similar stipulations in owner occupier home buildings and contents insurance policies;
  • when looking for the cheapest landlord insurance quote there may therefore be a fair few things you may need to take into account. If you feel that you would like some assistance in selecting the most appropriate policy for you, we will be only too happy to help.