Tips on choosing your landlord property insurance

Read the terms and conditions carefully, make sure that you are happy with the level of cover provided and make sure that you understand the terms and conditions.

Choosing your landlord property insurance is not a five minute job! Give yourself time to make the right decision. Start about two weeks before your current policy is due to expire and obtain a few quotes. Most of the providers listed on this site give you an online, instant landlord property insurance quote, but some of them quote half an hour later by email and some ask you to fill out the form, then phone them. (You then quote the unique reference given to you on the website and they have all of your info to hand - beats spelling out your sirname all of the time!)

If you take two quotes and there is a huge difference in price, there is usually a reason. The more expensive one may include cover for risks that you do not wish to pay for and conversely, the cheaper quote may not cover something that you feel is vital.

Be honest!!! Be truthful about your home, there is no point putting your future insurance claim in jeopardy!!

If you have just bought your house, or you're still paying a mortgage, you will probably find that you're mortgage lender will insist you have adequate cover should anything happen to the house. The mortgage lenders will normally only insist you have buildings cover so if the house was damaged beyond repair or destroyed your insurance will cover the cost of rebuilding.

Always remember you are not tied to any one insurance company, it is always cheap online to shop around. Just because an insurance company has given you a well-priced policy in the past it doesn't mean their current policy offer is competitive.

Some sales people will tell you it is compulsory to have both contents and buildings insurance. Strictly speaking, both building and contents insurance are optional, but your mortgage lender will normally insist that you have buildings cover so if the house was damaged beyond repair or destroyed your financially covered. If you have brought a house for £90,000 and you are a millionaire then its fine as you can afford the rebuild cost. But if you are like me and can only just afford the mortgage payment then you will need to have buildings cover. Contents cover is not essential, but remember that you've worked hard for the possessions in your home and if you lost it all it could take you a lifetime to replace it.

tips:
Examine any limitations and upper limit pay-outs before buying the insurance policy.

Check to see if special valuables need to be insured separately.

Check to see if you are covered for accidental damage.

Don't give any false information when applying for your insurance. This will make your policy invalid if you make a claim.

Don't underestimate the value of your possessions. Evaluate their value before shopping around.

Check your policy frequently and update it if necessary.

Check your Excess limitation, especially for money, single articles and valuables.

Always read the small print and documentation. Otherwise you are leaving yourself open to the insurer's opt-out clauses.

If you are moving home, check with the insurer to see if your contents are covered, and inform them of exactly when you are moving.

There are two basic types of landlord insurance that it is advisable to take out to protect your property:

Buildings cover.
This protects the basic structure of your property. That is the walls, windows, floors etc. Most policies will protect you against fire, storm, flood and vandalism as standard, but dont forget to check!!!
You can then add accidental damage to your buildings policy which will protect you from accidents such as putting your foot through the ceiling while in the loft). This may be included as standard on some policies .

Contents cover.
Contents Insurance policies cover movable objects inside your home or belongings and possessions that are not part of the fabric of your home such as carpets, curtains, TV and computer. Some also cover freezer contents (often as an extra option). The premium you will pay for home buildings or contents insurance can vary widely depending on how big your home is, what kind of cover you want, the value of your possessions, and the location of the home. Most will cover contents up to around £50k. That sounds like a lot but if you add up the replacement cost of everything in your home, it will add up! Remember not to undervalue your contents. If your home burned down to the ground, you would regret it!!

Household Security tips:
Security marking is a simple and inexpensive way of making your possessions identifiable and will increase the chance of them being returned if they are stolen. The recognised method is by using your postcode, followed by your house number or the first two letters of your house name.

A house which looks occupied will be less likely to attract burglars. Leaving lights switched on is one way to create the impression that you're at home, but timing switches which turn lights on and off automatically while you're out are even more effective. Other household electrical appliances, such as radios, hi-fi systems and televisions, can also be operated in the same way.

Don't leave valuable property in a shed which is either unlocked or so old and run down as to be no obstacle to a thief.

Gardening tools and furniture are very saleable items for a burglar. What's more, tools stolen from your shed can be used to burgle your home as well! Don't make it easy to steal them.

Many insurance companies insist that the installation of alarms is carried out by companies registered with the National Approval Council for Security Systems. The Association of British Insurers recommends fitting outside doors with deadlocks which conform to BS3621.

Flood advice

If your home is in an area which is prone to flooding or subsidence it will probably effect the insurance costs. Unfortunately there isn't a lot you can do about this, apart from moving home and taking appropraite precautions once a flood warning has been issued. Information on high risk areas is available at
www.environment-agency.gov.uk
National Flood Warning Centre - 01276 454 725
Or check up on the area
www.homecheck.co.uk

If you receive prior warning of flooding you may be able to take the following action to minimise damage to your home and belongings, but only if it is safe to do so and you have enough time!
Protect external doors, with sandbags if you have them

If possible, move furniture and electrical items upstairs

If you are unable to leave your property, fill a vacuum flask with a hot drink and take items such as a torch, warm clothing, a battery operated radio (tuned to the local radio station for updates) and a mobile telephone (if you have one) upstairs, until the danger has passed, or help arrives

If you have time, seal any delicate items in plastic bags to protect them form water damage

Ensure that your insurance documentation is at hand with helpline numbers

Pack a small selection of dry clothes and toiletry essentials, importantly including any medicines and emergency phone numbers
If your home has been flooded, we advise that you take the following action

Turn off the electricity at the mains

Lift any sodden carpets to allow the floor to dry. For an inexpensive Cooling fan or ventilator fan try cooling-fan-electric-evaporative-portable-industrial.co.uk

Use a low heat to gently dry things out - using a high heat can cause further damage. Safety first - don't use electrical sources of heat near flood water. For an inexpensive infrared heater in the UK, try infrared-heater-radiant-electric-gas-kerosene.co.uk

Once the flood water has gone, take professional advice before you start redecorating. You may need to let brickwork dry out for some months

If you are drying out your building by the central heating system alone, make sure the rooms are ventilated. For an inexpensive dehumidifier, try dehumidifier-humidifier.com

If you are using a dehumidifier, make sure doors and windows are closed. For an inexpensive dehumidifier, try dehumidifier-humidifier.com

Be patient-taking time to dry out your home properly now could save a lot of time later on when it comes to redecorating

If you property suffers severe flooding, you should not attempt to get through flood water to leave - it will probably be safer to move to an upper storey rather than risk wading through deep flood water, where there is a danger you could be swept away by the current.