Top tips for finding low cost landlord insurance

If you are a landlord – no matter how many properties you own, from one to 100 – you need to take out some landlord insurance. This will help protect you financially if anything goes wrong with your property. There are a number of different providers of landlord insurance, so it is important to choose the right one and a policy to suit you. Here are some top tips for finding low cost landlord insurance.

Firstly – if you have safety and security amenties installed (such as fire alarms, burglar alarms or extra secure locking systems) look for insurance providers who offer discounts for having these. Many provide a lower monthly rate if you have these additional measures in place. This is a great way to knock a few pounds off your insurance.

Consider how well-furnished your property is. Some insurance policies will offer new for old replacements, whilst others will provide a financial reimbursement for lost items. If your property has lots of furniture, it is more cost effective to opt for a policy that replaces your items.

You can find low cost landlord insurance by only renting your property out to particular types of tenants. For instance, if your tenants are mainly students or young people, insurance will be more expensive. Cheaper insurance can be provided if they have professional occupations, or are married couples.

Be sure to compare a variety of insurance companies before choosing one, as they all offer different deals. Some may be better suited to your needs than others. You can easily research different insurance providers on the Internet.

Most importantly, make sure the insurance you take out is right for you. Make a list of everything you want from your cover. This way, you will get the most out of your low cost landlord insurance.