You can obtain Landlord Insurance, with cheap online quotes
Cheap, online quotes for landlord insurance, are the speciality of B Portwood & Co Ltd. Policies are available for single houses or multiple properties online for sums up to £1,000,000 on the buildings and £150,000 for contents! Insurance quotes are also available for unoccupied house insurance - for landlords who may have purchased the habituation without tenants, be between tenancies, renovating or just disposing of the house. In addition, on referral, B. Portwood can provide quotes for houses of non-standard construction, or located in flood or subsidence areas. Premiums and cover provided/ exclusions will depend on the exact nature of the risk. For the best landlord insurance,contact us directly. We have access to various additional schemes,
It's not mandatory to have landlord insurance, unless with a mortgage, but it is recommended
It is not compulsory to have landlord insurance, but it is recommended that cover is effected.There is no legal requirement to have cover on any house but an interested third party (e.g.. a mortgage lender) may insist on landlord insurance. It must be effected as a condition of providing the finance, since the house is the collateral and, were it to be destroyed, there would be no means of recuperating the money advanced should the landlord default. To that extent it is compulsory to have landlord insurance. (but the duty arises through civil/ contract law rather than in the avoidance of criminality). The interest of the lender (or anyone else who has a financial interest e.g. joint owner) must be noted on the policy and the insurance provider will contact them if the landlord fails to renew, or cancels their policy..
What exactly does Landlord Insurance cover: a simple guide for the property owner?
A standard landlord insurance will provide cover for the following. Usually the cover is split into several distinct subsections so that it is readily comprehendible. A cheap policy may offer reduced cover to minimise costs , so the best advice for a landlord is to check their insurance cover matches their needs - or contact us with any queries.
As well as the landlord insurance, it would be wise to take out: -
What events does landlord insurance protect against a brief summary?
With our landlord Insurance, you get protection against: -
Even with the best landlord insurance there are limitations, conditions and exclusions. For full details it is best to read the policy document. It is important that the landlord realises that an insurance policy does NOT provide cover against everything, nor is it a maintenance contract: if loss or damage has occurred because of an event not listed under the policy then it will not be covered.
How do I compare landlord Insurance products against each other?
To compare landlord insurance, cheapest isn't always best: A cheap landlord insurance is obviously attractive since the landlord saves money: however not all policies appear on price comparison sites - for instance the policy we offer online does not. An alternative method would be to use a service that compares the cover offered under the policy. A leading source is defaqto and our landlord insurance policy (SAGIC) has a five star rating with them. A final option would be to look for reviews on claims service provided by the insurer when a client actually has need of the policy.
How can I get cheap landlord Insurance without sacrificing cover or claims service?
The best Landlord Insurance can also be cheap! A house that is occupied by a conscientious tenant is hardly any more likely to suffer a claim than one occupied by the landlord him (or her) self. Since the expected losses due to insured perils are similar the premium that needs to be collected, premiums can be nearly as cheap as a normal buildings insurance. Indeed some landlord insurance providers, only offer cover if the house is occupied by the tenant under an assured short-term tenancy agreement: this keeps claims down and the premium cheap. We offer cover for different types of tenants - students/ refugees/ asylum seekers and cover not only single buildings but also Homes of Multiple Occupancy (HMOs). The premiums to cover these occupants are not so cheap as the claims made are substantially more often.
To save money on landlord insurance, the policyholder must reduce cover. This reduces risk exposure and the average claims cost. The easiest way to make the policy cheaper is to increase the excess (the first part of a claim for which the landlord is responsible): alternatively the landlord may elect to exclude accidental damage cover. Our quotation system offers generous discounts and great flexibility in the excess that is required.
Note that there is a minimum premium per house insured, so taking a large excess may not result in a cheaper premium. Also: our premiums are so cheap that the actual difference in price between a policy that has a £250.00 excess (a common amount) and £1,000.00, is not going to be that great. (At least not for normal risks where the tenancy agreement is directly between the landlord and the tenant - large properties (HMO's/ bedsits etc.) or the ownership of multiple properties may make the cheaper option a sensible risk to take. Why risk having to pay an additional £750.00 should a claim occur, to save £10.00 on the insurance quote? Naturally each landlord has an idea on the best insurance excess and some may be more risk averse than others.
Under NO circumstances, to achieve cheaper landlord insurance, should the landlord reduce the sum insured on the house below the reinstatement cost.
How does the cost of landlord insurance vary with the type of tenant in the building?
With our landlord insurance, many tenancy types can be covered. The premium quoted will depend on exactly the tenancy type and the nature of the agreement.
What if I need to insure more than one house?
With our landlord insurance, multiple properties can be covered. For landlords owning up to four houses, individual policies are required. Each policy may have a different excess, for instance, and a claim on one policy will not affect the no claims discount on another.
An option is multi property landlord insurance when five or more buildings need cover. This incorporates a discount based on claims experience and additional houses can be added to the portfolio and gain the advantage of the policy discount. The cover is the same on each house - unless there are non-standard features - and the rate is based on the proportion of houses that are occupied by each type of tenant, rather than each house being individually rated. The minimum insurance premium quoted per house is cheaper than a stand-alone policy as is the policy fee. If the number of houses on cover falls below five then the policy can be retained, provided there are at least three houses on cover.
Houses of non-standard construction/ increased flood or subsidence risk.
For some types of property, landlord insurance can be difficult to obtain. Even in areas of increased flood or subsidence risk we can provides quotes and cover. The cover provided will depend on submission of a proposal form to underwriters and we cannot guarantee that cover for subsidence or flood will be provided. If it is then a substantially increased excess will apply.
Subject to referral to the underwriters of our landlord insurance, houses of non-standard construction i.e. other than built of brick/ stone and roofed with tiles or slates may be covered. (Flat roofs can be quoted for online, but there will be a requirement that the roof is inspected regularly otherwise there will be no cover). Again a proposal will have to be submitted to underwriters.
Insurance by county in England, Wales and Scotland
We can quote for landlord insurance in the following counties: Avon, Bedfordshire, Berkshire, Borders, Buckinghamshire, Cambridgeshire, Central London, Cheshire, Cleveland, Clwyd, Cornwall, Cumbria, Derbyshire, Devon, Dorset, Dumfries and Galloway, Durham, Dyfed, East Sussex, Essex, Fife, Gloucestershire, Grampian, Greater Manchester, Gwent, Gwynedd County, Hampshire, Herefordshire, Hertfordshire, Highlands and Islands, Humberside, Isle of Wight, Kent, Lancashire, Leicestershire, Lincolnshire, Lothian, Merseyside, Mid Glamorgan, Norfolk, North Yorkshire, Northamptonshire, Northumberland, Nottinghamshire, Oxfordshire, Powys, Rutland, Shropshire, Somerset, South Glamorgan, South Yorkshire, Staffordshire, Strathclyde, Suffolk, Surrey, Tayside, Tyne and Wear, Warwickshire, West Glamorgan, West Midlands, West Sussex, West Yorkshire, Wiltshire, Worcestershire
Cover in Northern Ireland is not available online - but is if you call us: Our direct line for landlords insurance is: 01388 607140
Insurance in the cities
We can quote for Landlord Insurance in any UK city. These are: London, Birmingham, Leeds, Glasgow, Sheffield, Bradford, Edinburgh, Liverpool, Manchester, Bristol, Wakefield, Cardiff, Coventry, Nottingham, Leicester, Sunderland, Newcastle upon Tyne, Brighton, Hull, Plymouth, Stoke-on-Trent, Wolverhampton, Derby, Swansea, Southampton, Salford, Aberdeen, Westminster, Portsmouth, York, Peterborough, Dundee, Lancaster, Oxford, Newport, Preston, St Albans, Norwich, Chester, Cambridge, Salisbury, Exeter, Gloucester, Chichester, Winchester, Carlisle, Worcester, Bath, Durham, Lincoln, Hereford, Inverness, Stirling, Canterbury, Lichfield.
Other than in areas contained by the M25, we have one rate for buildings insurance throughout the country. Landlord Insurance for habituations in Cities in Northern Ireland is available - but not online. Please call us.
Cutting Prices, not Quality
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