As a landlord looking for, you will want to make sure you are getting the best cover for your money. There are hundreds of insurance companies that will offer varying degrees of cover. Some will include more cover in different areas than others, but how comprehensive should your insurance be?
Finding the most comprehensiveinvolves frequent searching and comparison. Different providers will offer different things and you will find the best deal when you’re in a position of knowing the differences between the policies available.
In most cases, you can purchase different components to create a policy that is what you need. This means that you may purchase buildings insurance and contents insurance separately. Nevertheless, there are policies available that allow you to purchase full comprehensive cover that includes everything.
The comprehensive cover is normally available at competitive rates and the features within the policy will change according to the insurance provider. For example, one company may offer you contents cover up to £40,000 in their policy, whereas another may be more or less.
The comprehensive cover should also include cover for loss of rent. If your property becomes severely damaged to the extent where tenants cannot rent it, insurance providers can cover you for loss of rent. This component may vary in comprehensive cover depending on the company. Some may be prepared to offer you a higher amount of cover than others.
In some instances, you may want additional cover that is not available in a comprehensive policy. For example, contents cover will most likely not cover your tenant’s property. You will have to out extra cover in order to insure your tenant’s belongings.
Your buy to let insurance cover can be as comprehensive as you want it to be. Make sure you study the policy you are about to purchase to ensure that you everything you need is included.