Classic questions and answers on your let property insurance quote   by Eliot Blundell

Although a let property insurance quote should normally be a relatively routine affair, it may lead to a number of questions.

What does this quote cover?

A let property insurance quote typically contains a summary of the cover provided and possibly some of the key conditions and qualifying criteria.

It also, of course, contains an indicative price for a policy.

Note that it may be the case that your quotation refers to a full policy document or other supporting documentation that should be read in conjunction with it.

It may be wise to do so otherwise you may not be entirely sure of the detail your quotation/policy provides and more importantly, the cover it does not provide together with associated exclusions and conditions etc.

What is the difference between a landlord insurance broker and an insurance company?

An insurance broker typically has an in-depth knowledge of the marketplace together with a number of relationships with various insurance companies. They will seek to understand your requirements and identify a range of possible solutions for you.

The term insurance company may be slightly more ambiguous but is typically applied to an organisation that actually writes policies - so there may be less choice of cover compared with a landlords insurance broker.

How can I be sure that a policy will meet my requirements?

Although an insurance broker may provide you with a range of options that they believe may meet your circumstances, ultimately the decision will rest with you as the potential policyholder.

Whether you are looking for landlord insurance or any other form of policy, the only way to be sure of what you are getting is to find the time to read the policy thoroughly, in advance, and preferably to compare it to others.

It may not be wise to abdicate responsibility for doing this to anyone else.

Will the policy cover any claim I might make?

Being realistic, that might be unlikely.

No insurance provider is ever likely to guarantee that any claim of any type made, irrespective of the circumstances, will always be honoured.

Your insurance quotation and associated documentation will typically contain a clear articulation of the cover provided, those conditions that are not covered and a set of terms and conditions that typically outline your responsibilities if cover is to be maintained.

Yet again, it will be your responsibility to ensure that you have understood the exact nature of the cover you are purchasing.

The importance of trying to avoid purchasing landlord insurance simply based upon a quick look at the price contained within a let property insurance quote alone, cannot be overstated.