Your Guide to Landlord Insurance Reviews

If you are new to being a landlord, you may still be looking for the best landlord insurance deals that are tailored to your needs. Trying to find the best insurance deals for your property portfolio can be intimidating, but our guide will walk you through exactly what you need to keep in mind when looking for landlord insurance. Reviews are a reliable source of information when looking for any product, but there are also other factors that you can take into consideration. 

Here, we’ll take you through what landlord insurance is and how to look for the best deal when starting out as a landlord. 

What is landlord insurance? 

Firstly, let’s take a look at what exactly landlord insurance is. Landlord insurance is an insurance policy that is designed to protect landlords from financial risks that are associated with renting out a home. In essence, landlord insurance accounts for tenants living in the property, providing coverage for a range of issues. 

Apart from damages caused by tenants, landlord insurance can also cover you against any damages caused by fires, floods or storms. You’ll also be covered for any rental loss incurred if the property becomes uninhabitable.

Conducting landlord insurance reviews

If you are a landlord of long-standing, your buy-to-let insurance may be coming up for renewal soon. If, like many landlords, your initial response is to simply renew your existing cover, you may be missing out on future savings and extra benefits.

As with most things in the modern world, the insurance industry is constantly changing. Even if your previous landlord insurance was a good fit for you and your business when you first took it out, it might no longer be quite as appropriate. An easy way to figure this out is by undergoing a landlord insurance review, analysing exactly what you need and finding the best plan possible.

At CIA Landlords,  landlord insurance reviews are vital in finding the best solution for your needs. Here’s what we recommend looking out for when deciding on the best insurance policy for you:

• The position of your policy on the subject of subsidence. While today, not all providers may offer this type of cover, there are policies that do.
• There are let few property insurance policies that are restrictive when it comes to providing cover for tenants who are students or DSS, but make sure that your policy does cover this if you decide to let to DSS tenants
• It is worth looking at whether compensation is available if your tenants have to move out while repairs to insured risk damage are carried out.
• If you have ever found yourself in the position of facing losses due to tenants causing malicious damage, then your landlord insurance review may highlight policies where this situation may be covered.
• Landlord building insurance cover may typically contain an element relating to public liability cover. This protects you in situations where third parties claim that injuries they received or damage to their property was somehow the result of your property and upkeep. Some buy-to-let insurance policies offer up to £5 million cover for these potentially costly court cases.

Also,  keeping up to date with changes in the insurance marketplace will help you to stay ahead of the game in regard to changes that affect you and your business. If you would like to review some quotes to help point you in the right direction, fill in our simple form.

What type of landlord insurance do you need? 

Knowing which type of landlord insurance policy will work best for you may not be as easy to decide on, and as you can imagine, there are many different types of policies. Undergoing landlord insurance reviews is the best way to find out which policy type is most suited to your needs. 

Let’s take a look at the different landlord insurance policies CIA can support you in finding. 

• Landlord contents insurance: protects the furnishings and belongings in your rental property. So, if anything were to happen to your belongings during a lease agreement, this insurance policy will cover the loss incurred. 
• Landlord buildings insurance: protects you against rebuilding costs and loss of rental income. If you need to rebuild any part of your property due to damage, your rental income will be covered. 
• Buy-to-let insurance: protects your investment property against unexpected events. 
• Rental property insurance: protects your property while your tenant is a resident.

Make sure to get in touch with our team of experts at CIA Landlords to make sure you find the most accurate landlord insurance policy for your rental property. Get in touch with us today for more information!