How to get cheaper landlord insurance
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.
Don’t pay for more than you need. If your property is unfurnished, make sure you’re not paying for contents insurance. Contents insurance only covers your furniture and furnishings so, without those, this part of an insurance policy is rendered useless.
When taking out your landlord insurance policy, you’ll be asked to provide an accurate rebuild cost for your property. This is an important component of determining your premium so make sure you get it right. Overestimating on this figure means that you could end up paying too much and underestimating on this figure will cause complications with claims.
Increasing your voluntary excess can bring your policy premium down, but don’t fall into the trap of then not being able to pay the excess if you need to.
Lastly, make sure the security on your property is tight. Installing things like security and smoke alarms and extra locks could help drive your premium down because it lowers your risk of fires and theft.