Cheap Landlord Insurance – Finding It

There are two main ways to find cheap landlord insurance on the internet. The one you choose will depend on how much time you have available to search and how thoroughly you want to search.

Conducting your own search

The first method commonly used to find cheap landlord insurance involves you visiting the websites of individual insurance providers (those that offer landlord insurance) and inputting your details and policy requirements into each and every site. Most providers will give you an instant quote and you can then amend the contents of the policy to suit your particular needs while keeping an eye on the cost.

Although this method of finding cheap landlord insurance is a bit long-winded it can often provide you with the lowest quotes available. This is partly because you aren’t charged a broker’s fee for setting up the policy and partly because a lot of insurers offer discounts when an insurance policy is bought online. These discounts can amount to 15 or 20% of the policy cost and are often worth searching around for.

Of course in order to conduct a thorough search for cheap landlord insurance yourself you will need quite a bit of spare time. If you have the time then it is the best option for cheap landlord insurance policies, but if you don’t then you’ll probably want to try method number two.

Using an insurance broker or a comparison website

Cheap landlord insurance deals can sometimes be found on comparison websites and as such this type of website is worth looking at on a regular basis. Insurers often vary the prices of their landlord insurance policies in conjunction with the state of the buy to let market so a £300 policy one week might only cost £290 the following week.

Insurance brokers are also an option to consider. You will have to pay a fee to the broker for them finding the policy but most insurance brokers are privy to cheap landlord insurance policies that aren’t available anywhere else on the market. By working with an insurance broker you can sometimes save as much as 30% on the cost of a buy to let insurance policy even after the broker’s fee is paid.

A third option for property investors with more than one rental property

Property investors with more than one rental property to insure can save money by opting for multi-property policies, also called portfolio insurance for landlords. This type of cheap landlord insurance covers all of the rental properties owned by a landlord with a single policy. Because of the reduced amount of paperwork, administration and underwriting needed for portfolio insurance it often works out cheaper than several individual policies…and it is much easier to keep track of.

So, whichever method you decide to use to find cheap landlord insurance rest assured that there are hundreds of cheap policies out there…all you have to do is find the best one for your particular needs.