Why you need to compare landlord insurance companies

It is always a priority for you as a landlord to be receiving your landlord insurance at the best price. In order to do this, you need to be frequently comparing landlord insurance companies. There are a number of reasons for why you should do this, but what are they?

The first thing you should consider is that different landlord insurance companies will be offering different levels of cover. It is expected that some insurance companies will have cheaper deals than others. Likewise, some may offer completely comprehensive cover but it will cost more. You need to be assessing how much cover you need and how much you are prepared to pay for it.

Insurance companies will also vary on the excess charges that they will expect you to pay in the event of a claim. Although most will price their excess charges higher for commercial properties, there will still be a degree of fluctuation in the excess charges in general between insurance companies. Make sure you are reviewing how much excess the company is asking for.

In a similar fashion, different insurance companies will have different limits at which they are prepared to pay out for a claim. Some may be prepared to pay out up to £2 million when you claim on your public liability insurance component, whereas others may be £1 million.

You could also find yourself receiving different free incentives and discounts. One company may be offering you an online discount as well as giving you free accidental damage cover when you take out a policy with them. You want to be making sure that the cover you are receiving is giving you the most for your money.

You should always look to compare and contrast landlord insurance companies when looking for the ideal policy. This way you can way up all the benefits and drawbacks of multiple quotes and ensure that you policy you eventually go for is the right one for you.