Landlord Insurance Policy Require You To Disclose The Number Of Claims
Insurance for landlords can be found in many ways as mentioned in my previous article
. So there are three main ways in which you can get landlord insurance quote firstly by going online, secondly by visiting a local insurance broker and thirdly by looking in a landlords magazine. To find yourself the best landlord insurance policy you need to look at some factors on your side of the fence such as, how many properties you have, how many months of the year on average your property is empty, how many times has your property been damaged by tenants. You may also want to consider some factors such as, what kind of areas are your properties situated in. All of these factors have an effect on the kind of premium that you are offered by your insurance company. So make sure you do your home work and then give the insurance company a call.Landlord insurance policy will also be affected by the condition of the property as well. So if the property is old and does not have any of latest changes done to it such latest fuse boxes for electrical works, double glazed windows etc. The chances are that the cost of your landlord insurance quote will be higher due to high costs of maintenance of these old systems that are installed to your property. I strongly recommend that you replace all old systems with new ones, as this way you will ensure that your property is in good order health and safety wise and it will drive down your insurance premiums as well. As with most rented properties insurance for landlord can only be offered if the property is up to regulations with what is required for a property that is going t be rented out. So to avoid disappointment of not being paid out in case of a claim you are better off making sure that you have all these works done in advance.
Landlord insurance quotes also vary depending on the number of times you have claimed from your previous insurance policies in the past. all you previous claims are recorded on a central system, to which all insurance brokers have access. This is to ensure that you are charged exactly what you should be paying rather having to pay high premiums even though you have not made any claims. Most landlord insurance policy require you to disclose the number of claims that you have made in the past and if you do not disclose this information and take out insurance for landlords there is a very high chance that your insurance maybe invalid. This would mean that if any damage was to occur to your property you as the landlord will be solely responsible for covering the costs.
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