Recommendations for Buy To Let Buildings Insurance?

Testee

I have a purchase going through with a Buy to Let mortgage and I would appreciate some advice about who to go for an insurance quote on the Buildings? It's a standard three-bed brick built semi so no specialised cover necessary but when I plug in buy to let on Google it comes up with lots and lots of companies I've never heard of. So if anyone has any recommendations I would appreciate it.

Thanks

GrumpyOldMan_2

For Buildings only insurance for BTL I have found Norwich Union (via a broker) to be quite competative. Property is 2 Bed Mid Terraced, Standard Construction in the South East. Rebuild Cost £77K, premium of £177.83 plus £30 of M & S vouchers refunded via the broker.

easynotec3

I actually work in a brokers who specialise in buy to let insurance. The premium depends on a number of different things, mainly

Age of the property (new property's tend to get discounts)
Location of the property
Type of tennants (professional working tennants are accepted by mainstreem companies, if you are letting to students, asylum seekers, DSS referals etc, you limit the number of companies willing to quote and the premium will be sky high)
The sum insured - this should be the cost of rebuilding the property as new, not the market value as some people suspect. If you have just purchased the property and had a survey done then that should give a rebuilding figure, if not, the ABI (Association of British Insurers) has a rebuilding calculator on their site at http://www.abi.org.uk
The construction of the property - If the property is built of brick/block/stone with a slate/tile/concrete roof thats fine. If its built of what insurers call non-standard materials e.g. Wooden etc, again you limit yourself and the premium is high.

With regards to premium, the company we find who are usually the cheapest is NIG, they have a minimum premium of £105 and the policy has a £200 excess on buildings. NU has a £50 excess but their premiums can be up to £300-£400 more expensive.

Hope this helps