Insurance for landlords is really accessible. It makes no sense to go without it, and if you wish to remain a responsible landlord, you will take the time to obtain the insurance. Not only will it benefit your tenants, but it can mean that you do not have to make expensive payments every time something goes wrong with your property.
When you’re making your application, there are a number of things that you must have at hand in order to make your application correctly. Whether you’re applying online or within a shop, you must ensure that you have the following things at hand so that the application can proceed.
First of all, you must know when the property was purchased and built. You will probably be asked whether the property is Grade 2 listed as well. In reference to the construction type, you must know whether you have non-combustible walls, timber supports, a thatched roof or a non-combustible roof. This will determine the differences in cost of your insurance, but not wholly.
You’ll also be asked if any parts of the ground floor are occupied, and whether or not there are any trees within a specific distance of the building.
Then you’ll be asked about policy details, and this will cover whether you want Day One Cover for your buildings. Furthermore, you will be asked what you want the policy to include – including accidental damage cover for the building, heave, subsidence and landslip cover, and landlord’s contents cover. Finally, you will be asked about rental income cover and whether there are any interested parties in the particular property.
Once you have been asked these questions, and you have provided the correct and relevant information, you will be on your way to receiving the policy that you require. It’s easy!