Which type landlord insurance on private let

Suzkin

Hi,

One of my friends shall be letting their house for the first time. The lettings agent they are meeting with, says that they will be quoting for "comprehensive landlord's insurance".

My question is: Is this the only kind of insurance available to a landlord? It's as if the agents has specified this type of insurance as a matter of course, without any choice in the matter.

Thanks.

Yorkie1

I don't think there are categories like there are for car insurance policies. I think they just mean it covers a lot of eventualities.

I'd suggest that your friend also gets quotes from elsewhere too. The LA will in all likelihood get a nice fat commission for recommending your friend that particular policy with that particular firm.

Others will I'm sure be able to suggest other places to go to for quotes, but if this is your friend's first time at letting then s/he should become a member of a LL's association, which will in itself provide access to reduced insurance rates, as well as all the other support and information.

theartfullodger

Try Alan Boswell or Hamilton Fraser or Direct Line for quotes: All decent organizations.


Avoid the backhander-to-agent offer in the office....

G_M

Well it depends what they mean by 'comprehensive'. As with domestic insurance, you can get cover for Buildings only, Contents (yours, not the tenants), or both. You can also get add-ons like Accidental Damage and possibly legal cover.

So think about what you need/want.

You also need to check the terms. One company's Buildings cover might have more extensive cover and/or more exclusions than another, so don't just compare price, compare cover too.

Just google 'landlord insurance' and then get quotes.

You can often get discounts via your Landlord's Association (RLA, NLA etc).

Moving on from insurance, read this too.http://forums.moneysavingexpert.com/showpost.php?p=41160642&postcount=12

redped

I agree with G_M - plenty of good info. We have a rental property that we let out, and use Homelet for the buildings cover - just one of the companies your friend should get a quote from.