j r

Registered with Property118.com
Wednesday 31st July 2013


Latest Comments

Total Number of Property118 Comments: 3

j r

6:05 AM, 1st October 2017
About 2 years ago

Landlords Insurance - Landlords Buying Group

Reply to the comment left by Robert Grant at 11/07/2017 - 11:30
Hi Robert, I have just read your comments and feel I would like to expand this subject.
I have owned BTL's for nineteen years and used a number of different insurers in that time. My experience has been;
1. It seems many owners just go for the lowest quote they get. They seem to think it is some form of competition so they can announce their low premiums. OK up to then but have they really thought what they are doing? They are 'securing' their investment of many thousands of pounds. They are relying on a price war of insurers to look after their investment. Think about it - does this make sense?
2. if I get a quote I always look at reviews on line about the company. It is surprising what comes up about some of the really well known insurers and their claims service or admin. If you think about it, you want a good claims service if unfortunately you have to make a claim. This is what you pay your premium for!
3. The old saying of the 'devil is in the detail' certainly applies to insurance.
4. Some years ago I asked one of the major insurers online what was the largest amount they had ever paid out on a Third Party claim. The answer was £170,000. This shows the quotes of £2m or £5M are really cosmetic to some extent.
5. The broker who deals with my cover has always given me alternative quotes at every renewal. How many others do this? Most likely it would involve their staff in extra work.

I could go on but this is how I feel about insurances on BTL... Read More

j r

8:35 AM, 17th August 2015
About 5 years ago

Landlords Insurance - Landlords Buying Group

Reply to the comment left by "Mark Alexander" at "14/08/2015 - 11:54":

Hello Mark,
I went on line to get a quote for one of my properties from Discount and it quoted me a figure of £108.09 with a £250 excess and £500 water damage excess.

My own broker has come back with a figure of £106.43 with a £75 excess and water damage excess of £150. This is with a very reputable insurer and a household name.

This highlights my view that cheapest is not always desirable.
If I made a water damage claim with Discount, I would have to fork out £350 more with them than I would with my alternative.
Would Discount guarantee to match these excesses?
Does Discount also include Malicious Damage caused by a tenant?

I would be interested to get some feedback.... Read More

j r

8:57 AM, 14th August 2015
About 5 years ago

Landlords Insurance - Landlords Buying Group

I have also had a quote from Discount and it was competitive. However, as with other prominent advertisers for landlord insurance, this does not tell the whole picture.
It seems any provider can give a cheap quote but what are the EXCLUSIONS. To me, this is more important.
Not all will give malicious damage by tenants, some you pay extra to include subsidence. The main thing in common is the excess. Usually it is £250 or more. Sounds good now but when you have a claim, which is why you pay your premium, to find you have to put your hand in your pocket for £250 instead of £100, suddenly you can see why some premiums are cheaper.
Another thing to bear in mind is their claims handling and service. Remember this is what you are buying. Have a look at the reviews on line.... Read More