7:56 AM, 6th October 2017, About 5 years ago 10
I’m a landlord with 5 properties – 4 in joint ownership and 1 in Ltd co.
I have been lazy recently and not really bothered to look at insurance renewals and just called up my broker on receiving a renewal letter, haggled a bit and gone with that price for ease.
I usually end up paying between £160-195 per property, per year for rebuild costs of roughly £135,000 to £165,000 and each policy has around £3,500 – £5,000 for contents insurance to cover carpets and flooring etc as I’m told that it is technically contents but the properties are all unfurnished as a rule. I do a rent to rent agreement with the local authority who put their own tenants in, which I am told comes with a premium when it comes to insurance.
How does this compare with what you pay – not looking for full breakdowns but just a very rough example as insurance seems really hard to compare and know if you are paying the right amount or not. The only way seems to do endless online or telephone quotes and I’m not sure anyone has the time to do more than a few!
Also, does anyone have any experience of portfolio insurance and if its worth doing them all in the same policy or not?
Thanks and I look forward to reading the replies with interest on a Saturday morning as I do when the weekly email arrives.
Ian (AKA Southern Er)
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