• How much does landlord insurance cost per month?

    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.

    These variables include:

    • The type of the property – whether it’s a flat or a house, it’s age, the number of rooms and what the roof is made of. If your house is a listed building, for example, your cover will probably be more expensive.
    • Your tenants – do you rent to students or a couple in full-time work? Some tenants are deemed more of a risk than others.
    • The policy type and level of cover you choose – some policies are very comprehensive, whilst others are basic. Cover levels are based on the rebuild cost of the property and the amount of contents inside.
    • Any optional extras, such as legal expenses.
    • The property’s location – for instance, properties in London and the South East will generally be more expensive to insure than anywhere else.
    • Your insurance history and whether or not you have made (or have attempted to make) a claim on your insurance before.
    • Insuring multiple buildings – you could opt for multi-property insurance which provides you with a discount.