Landlord insurance is available with almost every insurer in the industry today. If we are a landlord, it is essential that we get landlords insurance for our property. Having an insurer already does not suffice, as we have to be in continual pursuit for betterment. We should be searching for a better insurer who gives us more benefits than our existing insurer.

Residential Property Landlords Insurance

If you are a new landlord then getting a Landlord Insurance quote for your property is the first thing that you will have to do in order to compare the quotes and find which insurer is the best for your needs.

To get landlord insurance for residential property you would have to enter details about your property that has to be insured. The year when the property was built, the purpose for which your property is used is to be mentioned. If you have insured your property with any insurer having any kind of landlord insurance, you have to mention those details. Since this is your residential property, number of flats that are built in the property have to be given. As a landlord, you will have to take care of all the tenants and their needs that stay in those flats. The year of construction of the building, and its registry details have to be given to your landlord insurer. you will be charged a lesser rate of premium if you have IEEE Certificate, and security like the sprinkler and an intruder alarm.

As a landlord, your interest in your property is showed with the security you take and the maintenance that you do for it. Having a building maintenance programme in place is one such thing. The building in your property which is to be insured, the amount of building sum insured has to be mentioned. Landlord should specify the need of accidental damage and contents cover. If your residential property is used for any other purpose other than residing, like for business purposes, then you should disclose it to your insurer. When you use one property for both residential and business purposes, then a combined landlord insurance policy should be taken. The occupancy and the type of people occupying it should also be mentioned. insurance-landlord.org.uk provides clear idea of getting residential property insurance.

Any claims that were made against you as a landlord, for your property or otherwise in the previous five years are taken into account. When you are an ERN exempt, your ERN number has to be included with it. If bank or anyone else has got a financial interest in your property and your tenant has any criminal convictions other than road traffic offense then your landlord insurance premium will be high.

This entry was posted on Monday, July 23rd, 2012 at 6:07 pm and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.