Landlords Can Protect Their Investments with the Right Insurance Coverage

November 7, 2012

Homeowners and tenants are not the only people who know the true value of home and contents insurance. Landlords are using this type of insurance as well. There are many fully furnished homes, flats and apartments that are for rent all over the UK. These landlords need to protect their investments, and the only way that they can do this is with the proper type of insurance. The terms and conditions of this type of insurance will change from one type of property to another, and it is best to speak to an insurance professional to get the facts.

There are many landlords who look to Payment Shield For Building and contents insurance. If you are a landlord that owns multiple properties, you may even be able to get some sort of discount. Here are some tips for landlords that are looking for home and contents insurance.

Shop around
Not every insurance company is the same. Some insurance companies will offer better rates, and others will offer better coverage. It really helps to shop around before you decide on an insurance company. Insurance company should have no problem quoting rates on the amount of insurance that you need.

Know Exactly What You Need Coverage for
Be prepared to provide the insurance company with a net worth of your properties. They will want to know the value of the buildings, and the contents within. Providing them with a well-documented and categorised list of properties and contents will make it easier to get accurate price quotes. Some insurance companies will request an itemised list to help them determine the cost of the insurance policy. The more information you can provide them, the better off you will be.

Get Online Price Quotes
In order to get your business, most insurance companies offer free online price quotes. You can use these price quotes to your advantage. Getting several price quotes from several insurance companies will make it easier to determine which insurance company has the best rates.

Never Settle for the First Price
Some insurance companies may be able to haggle a little bit on price. It never hurts to ask if this is the best price they can provide you. It also never hurts to ask if they offer discounts based on volume. If you are a landlord that owns several properties, then the insurance companies might be willing to lower their premiums in order to gain your business. This just makes better business sense for you and the insurance company.

Ask Friends and Family
There is no better referral than a referral from friends or family. It is hard to trust online reviews. These reviews may or may not be truthful. A close friend or family member will be able to give you a first-hand review that you know is honest and truthful.

As a landlord, your properties are your business. In order to protect your business and all of your investments, you need the best insurance coverage. Don’t wait for an accident to happen to learn that your insurance will not cover it. Make sure that you have the coverage you need today.

Jonathan Brickie is a freelance real estate writer who writes for several high-profile real estate websites. His father is a landlord that owns over a dozen properties. When asked about home and contents insurance, he always suggests Payment Shield For Building and contents insurance.

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