Landlords Insurance

Millions of Brits have moved into property investment in recent years, attracted by the wealth created by rising house prices. But with a collapse in the housing market those same people are now thinking very carefully about how to protect their asset for the longer term – which is where renting and the need for Landlord Insurance comes in.

One of the most important aspects of renting is landlords insurance, as it protects you from many of the issues you may face as a landlord. Here we look at the most important points to consider when choosing your landlords insurance:

1. When buying your landlords insurance remember to shop around. Do not necessarily think that the biggest brokers are the best. This is a very specialist area of insurance and you are often better off dealing with experts, such as Isis Insurance.

2. Check the excess. You need to be comfortable that if something does happen to your property you can afford to pay it. If you budget is tight you could consider increasing your excess to reduce your premium, but you must be able to pay the excess in the event of a claim against your policy.

3. Check what the policy covers. Specialist Brokers such as Isis Insurance can offer various levels of cover, including loss of rent, glass breakage and contents insurance.  

3. Look at your rebuild cost or sum insured figure and make sure that this covers a complete rebuild; otherwise as a landlord you could be facing a huge bill if your tenant burns the place down. The Association of British Insurers has a website at www.abi.org.uk that can help you work out your rebuild cost.

For advice on Landlord Insurance call Isis Insurance on 01625 539 656

This entry was posted on Wednesday, June 17th, 2009 at 3:32 pm and is filed under Landlords. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.