If you own property that you are renting out to tenants, it would be within your best interest to purchase buy to let insurance. When you have purchased buy to let insurance as a landlord, you may be required to pay excess when you make a claim. So how much should this excess be?
The first thing to remember is that the excess you will be charged varies between all the providers of buy to let insurance. It is very important to frequently compare and contrast all the offers available to you before you commit to a deal. A quick Internet search will provide you with a comprehensive list of buy to let insurance offers for you to compare.
Once you have chosen an insurance company to purchase your policy from, it’s also important to remember that the excess varies with each individual policy. It all depends on what features you have added to your policy whilst you have been compiling it.
Some companies will also vary the excess you are charged based on whether the property you are letting is residential or commercial. You will notice that a residential property will face lower excess costs on each individual component of a policy than a commercial property will.
You should expect your buy to let insurance excess to increase the more features of protection that you add to your policy. Therefore it’s important to find a policy that covers every aspect of what you need. Make sure you are absolutely certain on what your policy is giving you to avoid paying unnecessary excess charges.
There are a number of websites that are readily available for you to conduct comparisons and compile quotes. Comparing and contrasting all the offers available in the online market will ensure that you receive the best possible cover for what you are looking for.