Landlord building insurance UK: Top legal tips for a successful policy

When taking out landlord building insurance UK, there are a number of legal tips for a successful policy. Keep these tips in mind and you can be sure to get the right policy, and keep your property insured at the right level for the foreseeable future.

The first thing to do is look at the total overall policy, and not just the initial cost. Legally, you will be fine to take out a minimum level policy, but is this what you want? Just because a basic form of insurance will provide you with a cheaper deal doesn’t mean that you’ll be better off. Just because you’re saving money in the short term does not mean that you will remain financially prosperous. Instead, you will suffer from large expenses in the future when things begin to go wrong.

You must look at everything the policy covers, consider the cost and then decide whether both of these things fit your criteria. Is everything you need to be covered actually covered in this policy? And if so, is it at a sensible price? If it’s too expensive, then you need to shop around. If it’s still too expensive, then the chances are it’s not a sensible idea to start up. You can’t do without a good level of insurance!

So, shopping around is of benefit. But you should also ensure that you shop around at regular intervals. Some policies will have an end date, and some policies won’t. You should ensure that you shop around during renewal time, or at regular intervals if you’re looking for a monthly policy. This is because new insurers are being created all of the time, and they’ll all be attempting to steal each other’s business. Make sure you’re just as smart as they are!