The cost of your landlord insurance policy will depend on many different factors. Here is a guide that will explain why the cost of landlords insurance is different for every type of landlord in the UK.
The cost of a policy will depend on the amount or houses and flats you own or your business owns. The more your properties you have, the more your policy will cost you.
Residential properties are less expensive to insure that commercial properties like factories and large office buildings. The size and risk will be assessed for each property and a price will be worked out based on each property you own.
Each city can be a different ball game when it comes to the price of landlord insurance. If you live in London where houses prices are higher, compared to Nottingham, you’ll pay more if you live in London.
This can affect your total loss claim and the cost to re-build the property again.
The type of property like bungalows, flats, semi-detached and terraced housing can have an impact on the cost of landlord insurance.
The amount of cover you need will depend on the size of you business and the liability cover you think your business should have to fully cover liability from the public and other claims.
The more your property is worth; the more it costs you to insure it, that’s a general rule of thumb.
The must tell the insurance company what it costs for a total rebuild if your property is damages beyond repair. The cost of your landlord insurance will vary depending on this cost.
When you get a quote from any landlord insurer, they’ll ask you the year the building was built in and what material was used to build it i.e. bricks, stone or wood.
If your thinking about having total cover for your let, contents insurance is a great add-on as it covers your contents i.e. sofas, carpets, internal doors and other futures and fitting that costs you money to replace.
Taking a content insurance policy will add to the overall cost of your landlord insurance policy.
If your property has had previous subsidence or structural damage, it can affect the price of your policy because it’s more prone to cause problems in the future and cost insurance companies money.
How much is landlord insurance you asked, now you know what to consider when your looking at a landlord insurance policy. The cost of the policy will also vary among insurance companies so it’s better to compare providers for a better price.
You can do that here with this quote form, it’s compares top end insurers to find you a better policy online, try it now, click here.