Landlord Insurance can be a stressful element of being a property investor, especially for new landlords who have never dealt with this type of insurance before. We have helped several new landlords to get started with their portfolios, including the insurance aspect, incorporating many of the benefits discussed in the last post.

There are several aspects to consider when arranging landlord insurance, such as:

• Knowing what you’re insuring – for example; insure as unoccupied when necessary. Make sure the insurer knows what type of tenants will occupy the property, the reason for unoccupancy, details of any refurbsihments being done, etc. to ensure the policy is as accurate as possible.
• Trusting the home report – when stating things like rebuild costs, construction types, etc. the home report is your best friend. Don’t guess or you run the risk of leaving yourself exposed.
• Don’t ‘race to the bottom’ – we understand that everyone wants to minimise costs and expenses, but selecting the cheapest insurance without thoroughly checking the product itself could potentially be risky, as discussed in a previous post. The cheapest policy may well be perfectly adequate, but weigh up your options before ‘racing to the bottom’.
• When unsure, ask! – If there is anything you are unsure of, get in touch and we can provide all the info and advice to settle your uncertainty!