What to look for in a let property insurance quote
You may be right in thinking that there may be more to a let property insurance quote than just looking at the price.
Price is obviously an important factor in anything that you intend to purchase and landlord insurance is no exception to this. You may, however, find that: the actual cover provided by a buy to let landlord insurance policy is just as important as the price; not all policies may provide the same levels of cover and you may wish to bear that in mind when you compare let property insurance quotes. So, what features of cover may be likely to vary?
These may perhaps be split into two categories: features of cover which are present in one policy as standard but not in another; features of cover which may exist in other policies but which may not offer the same levels of protection.
As standard Features which some providers may offer as standard may include: cover for subsidence – once a very common and standard component of buildings cover but becoming rarer these days; loss of rental income – compensation for your loss of income should tenants need to vacate the property after it is damaged by an insured event; cover for malicious damage by tenants.
Different levels of protection
Different landlord insurance policies may provide broadly similar categories of cover while offering very different levels of protection: public liability payout limits may vary widely and you may wish to bear in mind that if there is a shortfall between what your landlords policy may pay out and what a court may award against you in damages, you may be personally responsible for paying it; not all policies may offer cover for all types of tenants – including DSS and students; there may be unrealistically low limits set for values of individual items of your contents.
A let property insurance quote may be able to help you identify what is important to you as a landlord and to get you the insurance that you need.