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Landlord Building Insurance Cover – How To Shop For A Competitive Quote

Article by Deborah Smith









Time is precious today and there is far too little of it to spend looking around for insurance. There is always the fact though that if you are well prepared and know the right questions to ask, you can avoid the pitfalls of paying too much for your policy. If you are ahead of the game you can cut costs.

Pick the Right Tenants

Most landlords building insurance companies are willing to offer low-cost landlords building insurance quotes for landlords who have tenants that tend to stay at home often. This is because when tenants are often at home, the risk for fire, theft, or any sort of damage is reduced. In turn, this will lessen the costs of the fire safety, security, and home contents insurance. Some of the most suitable tenants include housewives and elderly and are considered homely types by most insurers.

Also, most insurers do not really offer policies on certain kinds of tenants, either by their own rules or choice. Tenants who are working full time work and with stable income will allow you to get landlords building insurance quotes easily. With the wide range of insurance policies to choose from, it is very likely that you will find a policy that is affordable and suitable for your needs.

Upgrade Fire Safety and Security of Your Property

Moreover, you can also get a competitive quote at the same time protecting yourself against burglary and vandalism by upgrading or improving the security of your property. Effective ways to achieve this can be via the installation of insurance approved alarm systems, door and window locks. Any reduction in insurance premiums goes straight on your bottom line and will help boost your rental profits.

A Landlords building insurance company might charge less for the property contents insurance. This will help you cut down costs on property expenses. As well as being less of a risk from an insurers point of view, a rental property with better security will make it more attractive to tenants. This means you can have the chance to ask for higher rent as well as have (if you are lucky) a pool of potential tenants waiting to occupy the property.

Another way of obtaining low-cost landlords building insurance is by reducing the risks of fire outbreaks by installing fire extinguishers and alarms. This is a strategic move so that you can enjoy the savings benefit of your insurance on fire safety.

Ultimately, you should make sure that your insurers landlord building insurance policy conditions are met, so in the event there are fire outbreaks or damage to your property your policy will protect you.



About the Author

Letprotector is a landlord building insurance specialist. Letrotector policies can offer comprehensive landlords building insurance quotes along with a variety of cover options.










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Secure Your Let Property With Landlords Building Insurance

Article by Neil Roberts







Any capable homeowner understands the value of securing his or her residence with the proper insurance coverage, thus, landlords with properties occupied by tenants should not have to be told that it is imperative they see to it that those properties are just as well secured. However, statistics show that many landlords erroneously under insure or improperly insure their properties, resulting in a disastrous outcome when they put in a claim and discover that the property was not satisfactorily covered.

If you own a let property, it is crucial that you secure it with satisfactory insurance, or else you take the chance of your wallet suffering a devastating blow when the insurance company denies or underpays on a claim due to unsatisfactory cover. For the insurance to be satisfactory, the first point you must recognise is that regular home insurance is improper coverage for let properties. Rather, you are obliged to advise the insurance company from the outset that you require landlords insurance since the property is occupied by tenants.

A friend learned that lesson the hard way, after he neglected to advise his insurance company that he had moved out of his home, and that tenants had moved in. His reasoning was that since the tenants were friends of his and the tenancy was more of an informal agreement, intended to be temporary while he decided whether to put the house on the market, he did not need to change the status of his insurance. Unfortunately for him, his insurance company did not share his point of view. High winds inflicted minor damage on the building, so my friend filed what should have been a routine claim, and it would have been a routine claim had the insurance company not discovered that he no longer resided on the premises. He received no money from the insurance company and had to pay out of his own pocket for the repairs.

Landlords property insurance contains a variety of practical coverage options that you can settle upon depending on your requirements and budget, but generally at a minimum you will require landlords buildings insurance to secure the actual structure of your property. Furthermore, in addition to being necessary for your property’s security, most mortgage lenders insist upon let properties having at least that level of protection.

Buildings insurance for landlords offers the same security as buildings insurance for homeowners, in that it protects the domicile against destruction wrought by conventional insurable disasters. Thus, if a natural or unavoidable disaster, including fire or stormy winds, destroys the domicile’s structure, you will be eligible to put in a claim with your insurance company rather than have to pay for any subsequent repair work yourself. Additionally, building insurance for landlords includes security against an assortment of other perils, so find out from your insurance company what additional perils are included in the cover they offer. Essentially, you want to confirm that your property is also secured against intentional and avoidable damage, since you are entrusting your property to strangers without having a sure way of knowing whether they are in fact trustworthy.

Meanwhile, it is also important that you take steps to ensure the property is not under insured. If the property’s structure is severely damaged, it will not do you any good to receive a sum that covers the value of the property if that sum is not enough to pay for all the necessary rebuilding work. So, remember that the amount of insurance you take out must be enough to cover an entire rebuilding of the property, as opposed to only enough to cover the property’s actual value.

Since the security of your investment is on the line, do not forget about the supplementary options available to landlords in addition to buildings coverage. These include landlords contents coverage, which if taken out congruently with buildings coverage can result in a discount on your premium, rent guarantee and legal expenses coverage.



About the Author

If you are a landlord and need landlords property insurance for your buy to let property then CIA Insurance can deliver everything you need for peace of mind. We offer a wide range of cover from landlords buildings & contents insurance through to legal expenses, rent guarantee and even DSS Insurance, student and asylum seeker cover.