Buildings Insurance

We do have some Insurers that will provide Multi-Property Discounts and Portfolio Policies.

Our panel of Insurers will cover all tenants types upon request. Please ensure that your policy shows the correct tenant type as this invalid your policy.

This will cover you in the event of Loss of Rent and/or alternative accommodation should your property become uninhabitable due to an insured peril covered by the policy, eg Fire, Flood.

When documentation is issued at inception and renewal we will provide a Statement of Price this will show the amount paid and a full breakdown of any other fees charged.

Your rebuild cost, sometimes referred to as building sum insured or reinstatement value, can be most accurately found on a mortgage valuation. If you do not have one to refer to then you can try the Building Cost Information Service (BCIS) commissioned by the association of British Insurers. This free service can be found on http://calculator.bcis.co.uk.

There are a few different landlord insurance options. Which one you choose will depend on the specific risks you feel that it’s most important to cover against. The most common product and the one that we sell here at CIA Insurance is buildings and/or contents insurance. It’s also the most complex and extensive.

If you have an existing landlord insurance policy, you will be able to take out multiple-property landlord insurance with us. Sometimes also referred to as portfolio insurance, this covers landlords with three or more properties. It covers all types of properties, including blocks of flats let out on either a residential or commercial basis.

Multi-property landlord insurance is designed to save landlords time and money. Having one policy that covers all properties means there’s that only one payment and one renewal per year to think about, and the multi-property discount means that sometimes it’s cheaper than taking out individual insurance policies for each property.

There is no legal obligation for a landlord to take out landlord insurance, however, you might not get very far without it. You’ll usually need written permission from your lender before you take on tenants (unless you have a buy-to-let mortgage), and your lender is likely to require that you have landlord insurance before you do so.

Even though you’ve probably got a conventional home insurance policy, this won’t be enough to cover you if your property becomes a rental. In fact, a lot of home insurance policies will become void if the property is being used as a rental, meaning that you won’t be able to make a claim.

When you’re looking for your perfect landlord insurance, you’re going to want to get the best price. No landlord wants to be paying over the odds for their insurance – especially when you hope you’ll never have to actually claim on it.

If you have multiple properties, then make sure you insure them all with one provider. You’ll probably be eligible for a discount. Plus, it makes everything much more streamlined and simple with a lot less paperwork.

In 2018, the average cost of landlord insurance was £217 a year, down from £230 last year. That being said, it’s difficult to predict the cost of landlord insurance because there are many different variables that will contribute towards the price of a premium.

No, you don’t need to take out landlord insurance, however, a lot of mortgage lenders may insist you have it before you begin renting to tenants. Just because it’s not mandatory, it doesn’t mean that you shouldn’t take it out.

Landlord insurance is really important for any landlord. It will help to safeguard your financial future and protect your investment from damage, problematic tenants and other unexpected costs. It gives you the peace of mind that situations out of your control will be covered under your policy.

Insurance is usually offered from exchange, but you should be guided by your solicitor on the exact date to start your policy.

When you are purchasing a house – whether to live in yourself or as a buy-to-let investment – there is a potential grey area between the exchange of contracts and the completion of the sale. It is during this period that you will have signed a contract committing you to purchase the property, but the house will not technically be yours yet as you wait for other aspects of the sale process to be undertaken, such as the conveyancing.

Landlord insurance is a specialist product that covers landlords from damage costs and various different financial losses that come with the territory of being a landlord. Amongst all the positives, unfortunately, there’s a lot that can go wrong when you’re a landlord that can in turn, cost you a lot of money.

With that in mind, your landlord insurance policy is really important for any landlord. Buildings insurance and contents insurance are usually the main types of cover that a landlord will need, however a lot of other landlord-specific covers can be added onto a policy, such as legal expenses insurance and alternative accommodation expenses.

An interested party is any other person or organisation with a financial interest in the property, such as a mortgage provider.

An interested party – also known as an ‘additional interest’ – is a person or company other than the named insured on an insurance policy, which has an insurable interest in the person or property that the policy covers.

Buildings insurance is protection for the structure of your property, including fixtures and fittings, against unexpected and unavoidable events that may cause damage.