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Cheap Landlord Insurance – Does It Exist?

Friday, April 30th, 2010 Subscribe To Our Feed

If you are a landlord, then you are running a business. And like any commercial enterprise, you will no doubt want to keep your outgoings as low as possible. With this in mind it pays to shop around when looking for cheap landlord insurance.

So, does cheap landlord insurance exist?

Defining what is ‘cheap’ usually will depend on your expectations and whether the insurance for landlords policy you are looking for is either cheap in respect of:

what it offers in terms of policy features and benefits (ie. you believe it offers good value for money compared to other buy to let insurance policies offering the same or similar cover); Or,
if it is simply a basic, low cost buy to let insurance policy that gives you the minimum of cover (ie. it is a budget landlord insurance policy with no-frills).

There are numerous companies offering cheap landlord insurance, whether you are looking for just a very basic policy or you want one that comes with all the bells and whistles.

Choosing the buy to let house insurance that is most suitable for you will depend on a number of factors which may or may not include the following:

the type of insurance for buy to let property required – do you want no-frills, cheap landlord insurance? You have to decide if you want buy to let building insurance or a building and contents insurance quote? etc;

you may also be able to make savings on your insurance if you wish to cover more than one vehicle;

you have to consider, will the property be unoccupied for more than 30 days at any one time (for example, is it undergoing refurbishment)? If so, you may need to consider an empty property insurance quote otherwise an existing landlord insurance policy may become invalid if the property stands empty for a period of time;
what does the cover entail? buy to let insurance typically protects against many events, however they may differ between providers. For instance, there are a select number of buy to let insurance providers that cover malicious damage caused by tenants.

When looking for cheap landlord insurance you may wish to consider using an insurance broker to search around for your policy on your behalf.

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