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Monday, June 13, 2011

Comparing home insurance for landlords

Home insurance is an essential part of any finance package if you’re buying a home, and for potential homeowners there are plenty of opportunities to compare home insurance on the web. But for landlords with rental properties, there are a number of other considerations to factor in when you’re looking for a good deal on home insurance.

Thankfully, there are now more opportunities for landlords to find great deals on home insurance policies for their properties. As a landlord, the minimum you should be looking at is buildings insurance and a minimal value home content insurance, particularly if the property is partially or fully furnished. While it is advisable for tenants to take out their own contents insurance for their personal possessions, landlords also need to consider insurance against acts of vandalism or even non-payment of rent. Thankfully, there are now plenty of places where landlords can compare home insurance quotes online to get the best deal.

Stick with your insurer – or shift to a new provider?

When the time comes to renew your home insurance, it can be tempting to just ‘stick with what you know’ and simply renew your existing policy. But by using online sites to compare home insurance for landlords, you could find a much better deal that could cost you less and give you more comprehensive coverage with a different provider.
Landlord home insurance also needs to be more flexible than ordinary home insurance, because circumstances in rental property can change more quickly than in homes owned by the resident. This is particularly true in multiple occupancy properties, where tenants can come and go at regular intervals, or parts of the property may be unoccupied for some time. So look for policies that don’t have penalty clauses if you need to adjust them six months into the agreement.

Get the right cover

Before you decide on your home insurance provider, using comparison sites will allow you to look not just at the price of policies, but also what cover they actually provide. By shopping around you can save money and get peace of mind that your property is insured properly to its full value.

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1 comment:

property Insutance said...

Thanks for a giving a new ideas to more opportunities for landlords to find great deals on home insurance policies for their properties.