What is Residential Landlords Insurance?
‘Residential Landlord Insurance’ commonly known as ‘Buy to Let Insurance’ are terms used when describing a specific policy designed to cover a property owner who receives remuneration for providing residential accommodation. Alternatively, if the property is occupied for commercial use a ‘Commercial Property Owners policy’ will be required instead. Here are 5 top tips to keep down your Landlord Insurance Premium; 1. Make sure you have the correct ‘Buildings sum Insured’ To ensure you are paying the correct premium, make sure that you have the correct sum insured. House rebuild costs (depending on your property location) are generally lower than the property value. A common mistake is to give the value of the property as the sum insured, which in turn will make your premium higher. To obtain an accurate price it’s essential to ensure you have the correct sum insured. The best way to find out is from a professional survey of the property or if you haven’t had one recently visit the Assoc
