kanrent Posted February 24 Report Share Posted February 24 The money grabbing insurance companies seem to double my rental properties insurance every year, can anyone recommend a company, what would you include in the policy as important, (I know it's a bit of a how long is a ball of string question). Quote Link to comment Share on other sites More sharing options...
Melboy Posted February 24 Report Share Posted February 24 My rental properties are all due in March as well. ( Mistake to renew ALL at the same time or a wise move? 😀 ) I am expecting a large increase in premiums as I have just had my own property insurance renewed and the the premium has jumped by £80 a year. I could not find any other insurance company that was cheaper than my quote renewal. Quote Link to comment Share on other sites More sharing options...
Richlist Posted February 24 Report Share Posted February 24 Why are premiums increasing sharply for home insurance ? What's the excuse this time ? We know car insurance is increasing for some cars.....and we know why but I can t work out why it's increasing sharply for property. Quote Link to comment Share on other sites More sharing options...
kanrent Posted February 24 Author Report Share Posted February 24 2 hours ago, Richlist said: Why are premiums increasing sharply for home insurance ? What's the excuse this time ? We know car insurance is increasing for some cars.....and we know why but I can t work out why it's increasing sharply for property. Greed Quote Link to comment Share on other sites More sharing options...
Acura Posted February 25 Report Share Posted February 25 Always had good rates and excellent experiences with these guys hfis.co.uk Quote Link to comment Share on other sites More sharing options...
Melboy Posted February 25 Report Share Posted February 25 Well, as this topic is raised what should come through the letterbox Saturday morning were my renewal quotes for 2 of my rentals. Yes, quite disgraceful rises in premiums two of which were 1. An annual increase of the premium to pay £188.69p and 2. £139.99. Both of these policies were with SAGA who I have been with for about 4 years because their quotes were always very competitive and excellent cover but clearly no longer the case. So, I went straight onto the internet to obtain quotes and it looks like I am back with Direct Line Landlord's Insurance again having left them 4 years ago! I have actually managed to save £300 on the two properties by moving to them to DL in March. Not an inconsiderable sum of money saved I would say. I do have other insurance policies which I shall be scrutinising very carefully when they are due for renewal. Quote Link to comment Share on other sites More sharing options...
kanrent Posted February 25 Author Report Share Posted February 25 Any opinions on landlord legal insurance Quote Link to comment Share on other sites More sharing options...
Richlist Posted February 25 Report Share Posted February 25 I never bothered with it for the 20 years I let property. I always assumed it was part of Direct Line Landlord Insurance. Quote Link to comment Share on other sites More sharing options...
Grampa Posted February 25 Report Share Posted February 25 Usual story you get a good deal the first or second year and then the large rise. I thought had a good relationship with my local independent broker as I put a lot of work his way and got a half decent deal. Not any more it as I can get a huge saving by just going on the comparison sites. I found with building insurance if you add a small amount of contents cover you get public liability cover as well. Quote Link to comment Share on other sites More sharing options...
Grampa Posted February 25 Report Share Posted February 25 1 hour ago, kanrent said: Any opinions on landlord legal insurance Yes they make you jump through a lot of hoops to make a claim. In my experience with Rent4Sure you had to report any late payment over a certain amount of days and I would guess if you missed the deadline they would throw out the claim and while they dealt with the eviction you had to compile and submit to them a new rent statement of payments arrears and any correspondence with the tenant every month until vacant possession. So yes it can be useful but if you are proactive with issues and choose the right tenants I wouldn't bother. Quote Link to comment Share on other sites More sharing options...
Melboy Posted February 26 Report Share Posted February 26 I was going to raise the topic of whether it was worth having Landlord legal cover including rent guarantee etc. etc. I did have it on one of my policies for one property for 5 years but I have now taken it out of the equation as the cost of Rent Guarantee Insurance etc. has tripled in cost to be added to the policy price. Only time will tell whether this was the right thing to have done. Quote Link to comment Share on other sites More sharing options...
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