Landlords have invested significantly in a property to be let to an individual or a family. Of course you want to protect this property. There are many insurance companies in Ireland who offer landlord insurance policies and buy-to-let insurance policies. Some offer great cover while others offer great prices.
Why not let QuoteMe.ie get you a comparison of all the quotes available on the market. Let us give you free advice on the most suitable policy for you and your budget. Click here for an immediate, online quote or call us on 1818 22 44 33 to speak to a professional.
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It is very important to make sure that we, your Broker, and your Insurance Company know that your property is rented to tenants. A normal home insurance policy will not cover your properly. You must have a landlord insurance policy.
As well as covering the buildings, boundary walls and gates, and contents here are some types of additional covers available under a Landlord Policy:
- Malicious damage by the tenant – this is often not covered under many landlord insurance policies
- Can your property be unoccupied for long consecutive periods before cover is reduced
- Liability to the tenant
- Loss of rent – this type of cover is now often included as standard. If your building is badly damaged and uninhabitable by tenants, your insurance policy should include this cover to ensure that you can continue with your mortgage payments while your building is being repaired. Check that the Loss of Rent cover is sufficient. Many insurance companies give a standard amount (normally 15% of the buildings sum insured) and content only policies often don’t provide loss of rent cover at all.
- Liability to tradesmen
We believe that the most important cover relates to the liability. It is essential that your policy covers you for death or injury to tenants and people and tradesmen visiting your property.
How to reduce your insurance premium:
- Install fire blankets and extinguishers
- Install an alarm
- Fit security locks
- If you have a number of investment properties, bundle them all together to give you more negotiating power.
- Fit smoke detectors and alarms.
- Some insurance companies charge a higher premium to those landlords who rent to students.
- Ask for a higher policy excess – this often drives a discount.
- Shop around or let us at www.QuoteMe.ie do it for you