What do I need for a landlord insurance quote?

Landlord insurance can be daunting but getting a quote might be easier than you think.

To get an accurate and comprehensive quote you’ll need to provide specific information about your rental property.

Here at Property118, we’ve teamed up with The Home Insurer which helps provide a top-class personalised service and could help save you money on landlord insurance.

Keeping prices low

Two of the largest online insurance companies (Confused.com and Go compare.com), told Property118 that the price of landlord insurance in the UK varies and key factors influence the cost. Landlord insurance companies generally ask the following questions to get a quote:

• Property value and type (whether residential or commercial): More expensive or bigger properties typically have higher insurance costs. The type of property (for example, flat, detached house, or terraced house) also affects the price.
• Your tenants – Their employment status and any background and identity checks you’ve run.
• Location: Properties in areas with higher crime rates or flood risks could have higher insurance costs.
• Coverage level: Basic policies cover risks like fire, flood, and theft. Additional cover, like accidental damage, contents insurance, legal protection and alternative accommodation, can increase the cost.
• Previous claims – Details about any claims made in the time you’ve owned the property.
• Payment preference – Whether you’re looking to pay your premium monthly or annually.
• Current insurance policy documents – Basic details of your existing policy, including any previous claims history.

The Home Insurer emphasises the importance of knowing the type of tenants you have — whether they are working, retired, benefit-assisted, asylum seekers, subletting, or other categories.

The cost of your insurance is closely tied to the tenant type and the required rebuild value of your property.

Your claims history, whether the property is of typical construction and the amount of no claims discount all help with keeping prices low.

Jason McClean, director of The Home Insurer, says it’s important to remember that sometimes the cheapest price doesn’t mean the best service.

The Home Insurer offers a personalised service to all its customers and allows them to speak to the same adviser all year.

He told Property118: “I think we try to solve the problems for people by market-leading prices. Saying that, there may be somebody out there that can get a cheaper quote but with us, you get what you pay for.

“If you go for the very lowest possible quote, whenever you have a claim or you need to speak to that insurer, you probably won’t be speaking with the same person.

“You may not welcome the long phone waits, multiple menu options and being cut off either; that’s my experience of big call centres and think many feel the same.

“Here at The Home Insurer, you can ring us up and speak to the same person who deals with your policy all year long. There is only a 15-second FCA prescribed message before you are talking to a real person.”

Always best to shop around

Jason says that the Home Insurer always tries to be honest with clients and manage expectations.

He adds: “What I say to clients is we check your policies every year so it’s not automatic that we increase the price every time.

“I know a lot of our policy owners this year will have received lower prices compared to last year as we shop around all our markets, and we want to try and give the best policy and price every year.”

Jason advises landlords that it’s always best to shop around before picking the right insurance that fits your needs. It’s not just about the cost but the quality of service you receive.

The most efficient way to get a personal quote with the best price and cover possible is to call The Home Insurer team on 01832 770965 so they can focus on your enquiry when you are ready and sitting down with your portfolio details to hand.

Alternatively, you can use the form below to request one of our team to give you a call back.

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