The UK has several landlord insurance providers to choose from. You need to get landlord insurance that fits your requirements. This article is a guide to what to look for and help you compare landlord insurance UK. Landlord insurance comparison is critical, especially when you want to save some money. The article will also help you get the best landlord insurance policy. Make sure to go for insurers that are regulated by the Financial Services Authority.
Also, you can shop around and see if you can get the best deal. To save your time and money, use a landlord insurance comparison site like Compare the Market. It will help you compare the costs and the benefits from various insurers and in the end, you will save a few pounds. Another comparison platform is the Money Supermarket that will help you with landlord insurance price comparison.
Landlord Insurance Providers
The UK has many insurance providers that offer landlord insurance. So that you can get the cheapest and best policy, it is crucial that you compare landlord house insurance. Some of the landlord insurance providers include:
Landlord Building Insurance Compare
Ideally, you are looking for a landlord building insurer with low premiums for a comprehensive cover. This cover is also known as buy to let insurance. You need a policy that covers the buildings and other structures. The policy should cover the fitted interiors and the cost or repair and replacement in case of any damages. It also covers fire, theft, lightning, vandalism, smoke, storms, broken pipes, fuel leaks and impact from vehicles and falling trees. For these reasons, it is crucial to compare landlord insurance policies.
Landlord insurance should also cover the contents inside the building belonging to the landlord. However, they do not cover contents belonging to tenants. The landlord is covered against other eventualities like the loss of revenue when the house does not get a tenant. In an event when the landlord cannot get a tenant for a prolonged period, the insurer provides the landlord with some remuneration. However, in such an event, you cannot receive compensation. Landlords buildings insurance comparison is critical in such a case.
Landlord House Insurance Coverage
Some factors are not covered by landlord insurance, which you should consider. The insurers only compensate in the event of forced entry, like breaking the door. So, if your tenant walks away with some equipment, you cannot claim. Ensure that the money your tenants' deposit can cater to the main contingencies.
When you are leasing a property that is fully furnished, then you need to consider landlord insurance. However, what is included in the policy varies from one insurer to another. You also need to find cheap building insurance for landlords, which could save you some pounds. You can make use of landlord insurance policy comparison sites. However, it is not advisable to take a landlord insurance policy when the property is in use for holidays or has remained vacant for a prolonged period. Also, make sure that you install maintenance structures and equipment like a boiler. If you have such as structure, also consider landlord insurance with a boiler cover.
Cheap Building Insurance for Landlords
It is important to note that there are no constant landlord insurance prices. The cost of the cover depends on the size of the property you are insuring and the level of the cover. Also, note that cheap insurance policy might not be the best policy for you. This is why we encourage you to compare landlord building insurance before taking one.