Why make landlord insurance comparison even when a policy being offered seems too good to be true? When looking for the right insurance coverage for your rental property, it is imperative to compare not just coverage and premium but also exclusion and add-ons, if any. It is a known fact that landlord insurance packages are more or less offering same level of coverage but shopping and making comparisons will ultimately save you a lot of money. Amid the hundreds of comparison sites online however, where should one start?
Know What You Need
When going into depth with landlord insurance comparison, knowing what you need and addressing such needs from its core will help guide you. But like everyone else, you also want one with a premium that’s well within your budget. First, consider assessing your rental property, thoroughly. List down all the risks and hazards involved. Keep in mind that a furnished property has a different need than an unfurnished one. Carefully assess if its cash valuation you want or a guaranteed replacement coverage.
Another important aspect in landlord insurance comparison is in knowing how much you can afford in terms of premium. Do you have a budget set for this? Have you considered its impact on your rental income? Knowing what you and your property needs allow you to have more control on the negotiation table. This also allows you further to weigh one apple against another apple instead of the usual blunder of comparing apples to oranges.
Today’s landlords are quite luckier though. Getting the most bang out of their buck can now be done by the help of technology particularly the Internet. There are various online comparison websites and apps for landlord insurance policies which can help guide in matching up not just insurance companies but policies as well. These online comparison platforms also offer direct connections to these insurers to provide them needed quotes.
But while technology makes it easier for everyone, adequate care must also be taken into mind. If you can, get professional help when comparing landlord insurance policies. An insurance broker, for instance, can help jot down all your requirements and find insurance policies from various insurers for you to choose from. Finding the right broker to assist you will help greatly in finding a suitable landlord insurance policy that provides the coverage you require without breaking the bank.
Bottom line is: the cheapest premium may sweeten the deal but it may not give you the right cover. By getting into a foolproof landlord insurance comparison route, you are actually addressing all the needs of your rental property and its subsequent contents. Getting the right coverage at a reasonable premium with limited exclusions and more inclusions will ultimately draw the line on ensuring efficiency and foresight. So ask questions and grill a broker to bits until you get what you and your property badly needs.
Want to make sound landlord insurance comparison? Schedule a consultation with one of our friendly and certified insurance brokers by calling 1300 815 344 or request a quote online. We can also assist in customizing a landlord insurance portfolio to suit your unique needs. Call now!