Landlord contents insurance: Don’t just renew your current policy

When you have invested in a landlord contents insurance policy, it can be tempting to simply renew it before it expires. As normal as this seems, it is strongly advised that you do a spot of research first to find out what other insurance offers are available. So why exactly should you avoid heading straight for a policy renewal?

The most obvious thing to consider is that different insurance companies will offer different prices. It is important that you are taking advantage of the competitive insurance rates. You could see yourself receiving a cheaper insurance deal by setting up a policy with a new company.

In a similar fashion, you may be able to make the most out of any discounts that are offered when you sign up for a new policy with a new insurance company. There are often discounts available to new customers when you buy your landlords contents insurance from. This means you could see yourself getting the same coverage for a lower price.

You should also take into account that you may find a new policy that gives you better coverage. Most insurance companies will offer the basics with your policy but there may be fluctuations in what the policy covers and such things as claim allowances. For example, you may receive more extensive cover or a higher limit on what the company are prepared to pay out in the event of a claim.

The same thing applies to features like excess charges. You may find an insurance company that have lower excess charges than that of the company you are currently insured by.

It is recommended that you are always comparing and contrasting insurance offers before you commit to a policy renewal with your existing company. Keeping yourself aware of the other available offers is the best way of ensuring you receive the best policy for your money.