Compare Landlord Insurance
Most new landlords that buy a property either residential or commercial do so in the intention of providing a valuable secondary income. Property owners with a portfolio of properties often rely on rental income as their main occupational income. Landlords new to the market should know that a standard home insurance policy is unsuitable for rented homes requiring instead a landlord insurance policy. Landlord building insurance is available for both commercial and residential properties.
By taking out dedicated landlord insurance policy landlords can be confident that it is the right cover for a rented property should a claim arise. Most landlord insurance quotes automatically include property owner’s liability, loss of rent cover and some insurers also offer free legal expenses cover. Optional extra’s can be added to the policy such as rent guarantee cover for an additional premium.
One of the questions you will be asked during the insurance quote stage is the rebuild value of building or commonly known as ‘buildings sum insured’. This relates to the cost of rebuilding the entire property in the event the building is destroyed and has to be rebuilt from scratch. The most important thing is to give an accurate amount for rebuilding costs. If you inaccurately overvalue this figure you could be paying more for your landlord insurance cover.
If you have more than one let property then all the premises can be covered by a single landlord insurance policy. This can save you money and with one single renewal date is easier for landlords to administer Most landlords portfolio policies are flexible in that premises can be added or taken ‘off’ the policy at any time, can contain a mixture of residential and commercial buildings. The policy will also usually cover different types of tenants such as professionals, DSS benefits, student lets and even unoccupied properties.
Compare landlord insurance quotes
It is simplicity itself for landlords to compare landlord insurance online in minutes with CompareCrazy.com This will ensure that you get a cheap landlord insurance quote.
