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Companies we compare for landlord insurance

The following insurance companies quote for cheap landlord house insurance and we compare their rates through our quotation system. The rates, premiums, terms and conditions have to be checked to ensure that they meet the requirements of the property owner and some additional facilities are available if you contact us or submit a request online through our comparative quotation system for landlord insurance.

Notes on tenancy for rating landlord insurance

Other than sums insured on the house, the prime rating factor for landlord house insurance is the type of tenant occupying the home. Insurance companies may increase premiums or decline quotes if the tenant is unsuitable. We therefore classify the occupants into the following categories for landlord insurance.

  • Professional : Cheapest insurance premiums. Tenancy agreement is between occupier and property owner. The tenant pays the full rent direct to the landlord. More information about professional tenants and landlord insurance is available.

  • Subsidised : Marginally more expensive to insure. Tenancy agreement is between occupier and property owner. The tenant does not pay the full rent direct to the landlord. More information about subsidised lets and landlord insurance is available. This is commonly known as DSS1 Lets

  • Retired : Similar to professional except that the occupier is retired. Some insurance companies are now uprating this occupancy.

  • Students : Houses occupied to several students (usually as bed-sits). Surprisingly some insurance providers rate these as standard risks - others fight shy. More information about landlord insurance for student-occupied property is available.

  • DSS Referrals: House occupied by tenant(s) where tenancy agreement is between the landlord and local authority/ housing association and the landlord has no real control over occupancy. Nearly the most expensive form of landlord insurance - More information on DSS referrals and landlord insurance can be found.

  • Asylum Seekers: Similar to DSS Referrals. The sole difference is that the house is occupied by individuals or families seeking political asylum. Rates are very high. Look at our notes on landlord insurance and asylum seekers.

  • Our quotation system also caters for holiday home insurance and unoccupied property insurance.

Notwithstanding any of the above, if the house is multi-tenanted (HMO = Homes in Multiple Occupation) then it is up to the owner to ensure that the description of ALL the tenants is correct (as well as obeying the rules and regulations now in force).

Boiler Breakdown Cover

Boiler breakdown cover for let property and your own home. Premium is £63.60 including IPT for property and is suitable for gas boilers up to 20 years old (by law they must be serviced annually). Similar cover is available for home owners for £59.85 (including IPT) , reduced to £47.25 for customers with house insurance with us. Click here to buy online.

Cover provided under a landlord insurance

Whilst each company has its own policy,  landlord house insurance comprises the following typical sections. Customers asking for more information when seeing their comparison quotes will be provided with all documents. We recommend their serious perusal. The following is a rough guide.

FAQs

Q.) How and why does location affect the insurance premium?

A.) The location of the building is important for the rating of a landlord house insurance. The potential loss for a property purchased near a river or on a flood plain, which may suffer a large claim for water damage, or for a home built on clay, which could result in a claim for subsidence in a drought could be substantial. Landlord insurance providers take different attitudes - some quote the same rate wherever buildings situated, other providers use the whole of the postcode for accuracy. Others decline the risk completely. Our comparison quote system takes this into account.

Q. Can the insurance premium be reduced by reducing the sum insured on the house?

A.) The major rating factor for landlord house insurance is the buildings sum insured. We recommend insurance based on the full rebuilding cost as new is arranged. If the sum insured is reduced to obtain a lower premium, claims probably being substantially reduced. Landlords insurance companies ask different questions for underwriting, our quote system needs answers to more questions than usual to obtain accurate quotes.  

Q. Can my property insurance cover my tenantís contents?

A.) No. Policies restricted to landlord contents only. Tenants must effect their own policy should they wish to protect their contents. The reason for this goes back to one of the principal rules, which is that the entity that is being insured must be owned or directly effect the person who is taking out the contract. If this rule is not strictly adhered to, the contract can develop a moral hazard and end up more like speculation/gambling.

Q. Can I reduce the premium by taking an excess?

 Yes - please note, however that a policy for landlord house insurance will have an excess as standard. This excess may be as low as £50.00 for some risks - professional lets for example, however, as in most forms of insurance, the tendency is for the excess to be increased as customers sacrifice cover for price. We have policies available where an excess of £10,000 can be taken (recommended for large sums insured only) but a lower excess (£250 or £500) could result in a cheaper premium. Whilst on the subject, different sections of the policy may have different excesses - for instance an excess for escape of water could be substantially greater than one for fire - and typically the excess for subsidence is £1,000 - rising to £2,500 in some locations.

Duty to disclose Facts under any contract of insurance

Please read this IMPORTANT NOTICE about requirements. We accept no liability for any loss that occurs due to your failure to comply.

Duty of disclosure when applying for property owner's insurance

When applying for landlord house insurance there are important points that should be noted. The most important is the duty of disclosure. Any person applying for cover should make a full disclosure of material facts to us (if going through us) or to the provider (if using one of the links on our results page). A material fact is one that could affect the assessment of the risk and could include, for example, whether the house is in good condition, state of repair and will be so maintained, whether there have been any claims on the home or on any other property owned. If the house is of non standard construction, this is important - cover may be declined if the home is not built of brick/ stone and roofed with slate/ tiles. The amount of flat roof and its age is important - cover may be restricted or the roof may have to be replaced on a regular basis. The proximity of areas of subsidence must be noted (this may already be considered in postcode rating).

In addition to the above, applicants should ensure that the sums insured are adequate as failure to do so could result in the application of 'average' - a fancy term meaning that only a proportion of any claim will be paid out if the sum insured is inadequate.

Unoccupied Property Insurance

We can also quote for unoccupied property insurance as well as residential let insurance. Immediate cover is available online for unoccupied property insurance.

Finally

We are brokers - it is our duty and our business aim to ensure that customers obtain the correct policy to meet their demands and needs. Buying online can be a risky business as many people lack the expertise to check whether the cover provided is suitable, although it must be said that those operating as a business are probably better equipped than others. If you do have any queries on any policy we offer or information we send to you please do not be afraid to contact us.