At Cover4LetProperty, we’re committed to helping you find suitable cover for your property. Here are a few things we believe that you might wish to think about in advance of starting your search.
Who are you letting to today or may let to in future?
This is pertinent because some landlord insurance companies won’t cover certain categories of tenants such as students or DSS etc.
The good news is that there are some policies, covering all forms of tenant category.
Is your property a house or a flat in a multi-occupied building?
Some policies may be marginally more suitable for one type of property rather than another.
How important to you is the cost of your insurance?
Of course, comparatively few landlords may consider price to be irrelevant but if you are looking for a particularly cost-effective deal, you may wish to investigate policies that offer a higher degree of voluntary excess.
If you take a higher excess, you may find in some cases that your premiums will reduced by up to 40%.
Are you letting furnished or unfurnished?
That may play a big part in deciding whether or not you might benefit from contents as well as buildings cover.
Do you have or could fit burglar alarms and additional locks?
If you are able to increase the security precautions around your property, you may find that some policies will offer you discounts on your premium in recognition of the fact you are reducing the risks to the insurance provider.
Do you have high value items included within your furnishings?
If you do have, some policies may not cover them at all. Such examples might include computers, hi-fi equipment or antique furnishings.
Other policies may have strict maximum individual pay out levels for such items and policies in general may have overall pay out ceilings.
It is important that the type and levels of cover selected are commensurate with the nature of your furnishings.
Are things such as subsidence cover important to you?
If they are, it might influence your searching for insurance because such cover is no longer automatically included, as standard, by all forms of landlords insurance policies.