How to lower the landlord insurance cost you face

Landlord insurance cost might seem daunting, but it doesn’t have to! No longer do you have to worry about high costs of insurance, with so many ways available to cut your costs whilst maintaining your high level of cover. This article quickly outlines some of the easiest and best ways of cutting the cost of your insurance without any fuss.

First of all, you need to shop around. It might seem a little obvious, but with so many companies out there wanting to provide you with insurance, it only makes sense that you will be able to find a wide range of policies at a wide range of prices. For the same policy offered by you by one agency, you would find a range of different prices on quotes from other agencies. It’s just a matter of finding them. So remember, don’t just stick with the first quote and first policy you find. Shop around!

Secondly, make sure you’re not paying for things you don’t need. Of course, it’s important to ensure that you’re getting everything you need with your insurance policy, but you should also make sure that you’re not paying for a policy that caters for people with more requirements than yourself. Check the ins and outs of your policy, and you’ll no doubt find things you don’t need. Take them out the policy, and you might just find that the cost will significantly decrease.

Finally, use comparison websites. Comparison websites allow you to compare the most reputable companies out there, as well as offer you the chance to save a huge amount of cash. Comparison websites are popular for a reason, so remember to use them!

There’s no reason to pay over the odds. Do your research, and you’ll no doubt find a great price.

The different points of landlord insurance comparison

There is nothing wrong with collecting a number of quotes before you commit to a certain company. If you are a landlord who is looking for landlord insurance, one of the best things you could do to help yourself find your ideal policy is compare quotes. However, it is no good comparing quotes if you don’t know what you should be comparing them on. So what are some of the points of landlord insurance comparison?

The primary concern for any landlord looking for insurance is what the costs will be. What will you be expecting to pay and how often? Does the amount of money you are paying reflect the amount of cover you are receiving? These are the sort of question you should be asking yourself when conducting a landlord insurance comparison.

You should also look to compare the claim allowances that are offered by different companies. In the event of you making a claim, you want to know what the insurance company’s limits are on how much they will pay out. Likewise, you should take note of what the excess charges will be for you if you take out a policy with them.

Always observe what sort of discounts or free additional features you may receive between the different companies. Most companies will offer you an online discount, but some also offer a multi buy discount which means your insurance premiums are cheaper if you insure more than one property at a time. You could also find yourself receiving free incentives like free accidental damage cover within your policy.

It is vitally important that you are comparing insurance companies in order to take advantage of the quality services and competitive prices they are offering. Dedicate some time on a regular basis to comparing quotes and you are bound to find the insurance policy that suits your every need.

What to look for in a landlord insurance company

When you are collecting landlord insurance quotes you want to be sure that you company you are interested in are going to give you the best deal. There are so many companies to choose from; it can be so difficult to pick. However, there are a few things you should be looking for in a landlord insurance company, but what are they?

Firstly, you want to ensure that the company you are dealing with are legitimate and reputable. When you conduct an online landlord insurance company comparison, you are almost guaranteed that the companies featured on their listings are legitimate. However, it is always advised to conduct some research of your own to make sure the company has only the best intentions for you as a customer.

You should also take a look at what the landlord insurance company are offering you for your money. What sort of cover do they provide? You will have an idea of what sort of insurance cover you need from your policy, so make sure you are comparing that with what a particular insurance company has to offer. You don’t want to be paying more for what you don’t need or indeed not have the amount of cover you require.

A good insurance company should also be readily contactable. It is all well and good purchasing your policy with them, but you want to know how you can get in contact with them if you want to make a claim or if you encounter a problem. Logging on to a landlord insurance company’s website should help you review what sort of customer service they provide and how contactable they are.

The best landlord insurance companies are the ones that show they care about your custom. They are ready to provide a good service; giving you all the cover and assistance you will ever need along the way.

Why you need to compare landlord insurance companies

It is always a priority for you as a landlord to be receiving your landlord insurance at the best price. In order to do this, you need to be frequently comparing landlord insurance companies. There are a number of reasons for why you should do this, but what are they?

The first thing you should consider is that different landlord insurance companies will be offering different levels of cover. It is expected that some insurance companies will have cheaper deals than others. Likewise, some may offer completely comprehensive cover but it will cost more. You need to be assessing how much cover you need and how much you are prepared to pay for it.

Insurance companies will also vary on the excess charges that they will expect you to pay in the event of a claim. Although most will price their excess charges higher for commercial properties, there will still be a degree of fluctuation in the excess charges in general between insurance companies. Make sure you are reviewing how much excess the company is asking for.

In a similar fashion, different insurance companies will have different limits at which they are prepared to pay out for a claim. Some may be prepared to pay out up to £2 million when you claim on your public liability insurance component, whereas others may be £1 million.

You could also find yourself receiving different free incentives and discounts. One company may be offering you an online discount as well as giving you free accidental damage cover when you take out a policy with them. You want to be making sure that the cover you are receiving is giving you the most for your money.

You should always look to compare and contrast landlord insurance companies when looking for the ideal policy. This way you can way up all the benefits and drawbacks of multiple quotes and ensure that you policy you eventually go for is the right one for you.

The hidden fees of landlord insurance brokers

When you are shopping for landlord insurance, you are always going to be looking to find an offer than gives you the most for your money. However, you should be aware that the price of your policy could very well be affected by a number of hidden fees that you need to be aware of. So what are the hidden fees introduced by landlord insurance broker?

If you are using a landlord insurance broker this means that they will search and negotiate terms with insurance companies on your behalf. As a result, you will most likely incur extra charges for the service that they are providing.

As soon as you begin looking for a new insurance policy, and landlord insurance brokers will charge you a fee. You will be paying them to begin searching for and comparing insurance offers. For example, you would pay the landlord insurance brokers £20 to begin arranging new policies or collecting quotes.

Setting up a direct debit and making monthly payments through the landlord insurance broker will also come with fees. These are usually charged at a small percentage of your total premium. Also bear in mind that late payments will come with interest charges at the bank’s current rate. Any unpaid direct debits also come with a fee.

If you are making your insurance payments through a credit card, landlord insurance brokers may take a small percentage of the transaction you are paying. You should also be aware that insurance companies will be paying the insurance brokers commission. This could result in the cost of your premiums increasing as a result of the insurance company having to pay commission.

Although using an landlord insurance broker gives you help from somebody with expertise, it will inevitably increase the cost of your insurance. Decide whether you can find a policy on your own or if you need help and then assess the situation accordingly.

Common misconceptions about landlord insurance

For a new landlord, the area of landlord insurance can be a quite a puzzle. There are a number of questions that you want answered and truths that you want to be told. So what are the common misconceptions about landlord insurance?

Landlord insurance is a legal requirement – This is not the case. Unlike car insurance, it is not mandatory by law for you as a landlord to have landlord insurance. Nevertheless, it is still strongly advised to purchase a landlord insurance policy. Just like being a regular homeowner, there are a number of potential problems that could arise and having landlord insurance is the best way of preparing yourself for them.

My landlord insurance cover will last even when my property is empty – Not entirely true. Most insurance companies operate what is known as an unoccupancy clause. This will state how many consecutive days your property is permitted to be without tenant for before it is no longer viable for you to make a claim. The duration of time often changes between the insurance companies. Some offer 30 days others 90 days; it all depends on what has been specified during the negotiations of your policy.

Landlord contents insurance will cover both my tenant’s contents and my own – Landlord contents insurance will only cover the furnishings, appliances and other external items within the property that belong to the landlord. If you want to protect the belongings of your tenant then you will be required to purchase tenant contents insurance.

I don’t need public liability insurance – If you are investing in landlord insurance, then you should certainly include public liability insurance. In the event of an accident or injury occurring as a result of your property, you are held legally responsible. Having public liability insurance helps you through any damages or legal expenses that need to paid.

Knowing exactly what to expect from landlord insurance is the best way of ensuring you are getting a policy that is right for you.

Landlord house insurance: What to expect from customer service

There are a number of things that you will consider before you purchase landlord house insurance. However, one of the most important things is having an idea of what support and help you will receive from your chosen insurance company. So what should you expect from customer service?

Most insurance companies make themselves readily contactable. When you log on to their website, you should be able to find a contact page that provides you with a number of ways with which you can get in touch. These usually include phone and fax numbers, email addresses and the address of the insurance company’s main offices. This helps you get any information you need through a number of communication mediums.

You can also request a call back from your insurance company. This involves submitting your name, contact telephone number and email address. You will also be asked to state what your enquiry is about and the best time for the insurance company to call. There is also a section that allows you to submit comments to the insurance company via email.

A considerable amount of the information you may require is often already available on the company website. You can review a comprehensive list of frequently asked questions which have designed to help you with any queries you have or problems you have experienced when using the service. This can include the process of amending any of your personal or policy details, how to make a claim and how to cancel your policy.

A good insurance company will offer the entire range of support and help that they can. This will range from direct contact through telephone and email, as well as the indirect support of frequently asked questions and support pages of the company website. Pay a visit to some insurance websites and review what sort of customer support you will receive to ensure that you will receive the best customer service available.

Landlord home insurance – What your policy needs to include

Purchasing landlord home insurance is strongly advised for any landlord. Although it is not a legal requirement, it is the best way of ensuring you are prepared for any of the potential problems and financial struggles that may unfold. You will want to ensure that the policy you purchase gives you all the cover you will need. So what should you policy include?

The first part of your landlord home insurance policy is the building insurance. This is the section that protects the actual infrastructure of your property. You will be covered against fire and flooding damages as well as such risks as malicious damage and theft. These are all regarded as the typical hazards that could inflict damage upon the physical structure of your building.

You should also be looking into contents insurance. This type of cover will protect the belongings, furnishings, appliances and other décor within your property. Like with building insurance, the contents of your property will be protected from the standard hazards and risks, but some insurance companies may include accidental damage. However, this cover will not protect any belongings that your tenant brings into the property. For this type of coverage, you will need to invest in tenant contents insurance.

A landlord home insurance policy also needs to include public liability insurance. As a landlord, you are legally required to ensure your building is not a risk to tenants and the general public. Should an accident or injury occur on your premises, your policy will assist you with legal expenses and any damages that need to be paid out.

If you are renting out a commercial property, you should also consider employer’s liability insurance. This means that if you are employing people to work in your property, you will be covered for legal expenses in the event of an employee injuring themselves.

These are all features that your policy should include when you invest in landlord home insurance. Make sure you are getting all the coverage you need to ensure a peace of mind.