Buy To Let Building Insurance

When you are ready to rent out a building or buy a building that you believe will make a graet rental property, then you need “Buy To Let Building Insurance“. Basically the Buy To Let Building Insurance phrase represents the rental market. Any building owner that wants to rent out their building needs special building coverage that covers other people occupying your building.

Buy To Let Building Insurance BenefitsBuy To Let Building Insurance residential

  • Really competitive premiums that also have additional discounts over time you if you have  ‘low claims’
  • Multi-property discounts
  • No worries about other people damaging your property
  • Comprehensive cover with high policy limits
  • Some policies offer Legal Expenses coverage in case of litigation
  • Many optional policy add-ons which include subsidence and terrorism
  • Quick Quote service
Find an underwriter (Buy To Let Building Insurance representative) who has the authority to make decisions about the coverage needs you have.

Buy To Let Building Insurance commericalWhy do you need Buy To Let Building Insurance?

You need Buy To Let Building Insurance if you are a landlord or property owner who:

  • Has or manages residential and/or commercial properties
  • Is responsible for insuring the building and the well being thereof.
  • Let/rent or lease properties with tenants who will be renting for more than 6 months
  • Let/rent or lease properties to residential tenants
  • Let/rent or lease commercial property
  • Or if you have a mix of commercial and residential properties in your portfolio of real estate holdings.

Cheap building insurance is great, but getting the right Buy To Let Building Insurance is more important and urgent.

Building Insurance Calculator

Building Insurance Calculator

Building Insurance Calculator

It is very important to have your building insured properly and immediately. Building insurance is a tricky thing. When shopping for business insurance online it is hard to get exact details. Are the insurance companies trying to make it difficult? I would like to make a purchase online and I can’t find a place to

  • Why is it hard to get an online quote?
It’s hard to get an insurance quote online because because of the thousands of different options of types of buildings. There are almost no identical commercial or industrial buildings in the world. It is not like home owners insurance, where a builder can go in and build an entire subdivision of houses that are all very similar and can have the same type of insurance. Your building is unique in its’ age, construction style, application and building materials. Take the fact that it is hard to buy building insurance online as a positive, that your insurance company is doing their job and making sure you have the right plicy for the right style of building.
  • What insurance companies have an online Building Insurance Calculator?
Currently there are no Building Insurance Calculator online applications. There are building insurance sales reps who have Building Insurance Calculator that they use internally, but this is not open to the public.
  • Can I develop my own Building Insurance Calculator?
The best way to figure out the cost of building insurance is to contact your insurance representative today. They will be able to offer you professional advice and discover what the best type and amount of coverage is for your business. This not an area that you should doing it on your own. You need a professional who has a real Building Insurance Calculator.

Keep focused on what is most important, and that is that you need a building insurance policy and get it taken care of right away. Don’t delay just because it’s hard to find a Building Insurance Calculator.

Even without the Building Insurance Calculator get coverage today!

Tenant Contents Insurance

Tenant Contents Insurance

Tenant Contents Insurance

There are many questions that tenants have about the rights and obligations a landlord has when they move in. “Who is responsible is there is damage?” is one of the trickier questions that can cause great frustration. We have compiled below some more questions that you as a tenant are likely to face, with some simple and practical advice about Tenant Contents Insurance. Make sure to be fully covered with a Tenant Contents Insurance policy and not leave all of your belongings to chance, because when you least expect it, something catastrophic may happen and you could be left with nothing.

Questions About Tenant Contents Insurance

How much Tenant Contents Insurance do I need?

The bigger question is: What would happen if everything in your house was suddenly gone? How would you recover if you didn’t have a Tenant Contents Insurance? How much money would it cost to start over again? If you had to buy new clothes, new furniture and everything else how much would you need to get from your insurance company? That number is likely to be higher than you think at first. If you are conservative and think that you don’t really own that much it’s amazing how your thinking will change when you start to itemize what you really own. The things that are in drawers, things people have given you and various furnishing that you have collected over time really start to add up.  When you have arrived at a number it is best to increase it by 10% – 15% so that you are actually covered properly.

Are there different types of Tenant Contents Insurance?

Yes, there are several different types of Tenant Contents Insurance. Or maybe it would be better to say there are many different options on your Tenant Contents Insurance. You need to understand the different types. and what the pros and cons are. You need to understand if you are getting replacement cost or actual value insurance coverage. You also need to understand what the deductible is and what types of losses they pay for. Will the Tenant Contents Insurance company pay if one of the pipes in the building breaks and there is water damage? Will they pay for smoke damage is there is a small fire and many of your belongings now have a permanent smoke smell? Make a list of questions to review with your insurance agent.  He will be impressed with your preparation and it will be a much more effective meeting – either in person or over the phone. If you start a simple chart with answers of what is covered, and a final price per month or year, you will very quickly be able to compare rates.

What is a “Deductible” and why does it impact my rate so much?

A deductible on your Tenant Contents Insurance is how much you are responsible for if there is a loss. Let’s say that you have a $500 deductible on the Tenant Contents Insurance policy and you file a claim for a total of $1,000 worth of damage. If the insurance company decides to pay, then they would take the $1,000 claim and subtract the amount you are responsible for(in this example $500) and send you a check for $500. If however you had a $100 deductible they would send you a check for $900.  The lower the deductible, the more expensive each month. But, if it only costs you $25 per year extra to go from a $500 deductible to a $100 deductible, it would take 20 years without a claim to break even just on one claim. That would indicate that it would clearly be worth spending the extra $25 per year and have a higher payout when there is a claim.

Does everything I own have to be listed?

When you fill out the insurance paperwork there will be different categories to complete and you will be asked to submit estimated values of your property in that category. If you do some planning ahead of time it will cut back the confusion and help you make better choices on the Tenant Contents Insurance application.

Can  a building owner get tenant contents insurance?

As a building owner you want to make sure that the building is covered, however covering a tenant is a risky preposition. You should clearly advise each of your tenants that they are responsible to get Tenant Contents Insurance so they are properly covered. Explain to them that you have building insurance that will cover your losses, but they should get Tenant Contents Insurance on their own. Make sure that your insurance company knows that you have tenants in the building, as they will adjust your policy to cover rental properties. Perhaps you could refer your tenants to the insurance company and help keep everyone happy.

Should I get Tenant Contents Insurance through my car insurance company?

It really does not matter what company you choose for Tenant Contents Insurance. Contacting your car insurance company is a great idea, as they normally provide great discounts on Tenant Contents Insurance. They also already have all of your contact information on file and can likely just add it to your bill. That will mean that you have quick access to Tenant Contents Insurance.

What are the benefits to Tenant Contents Insurance?

  • You can remain in control of how much coverage you have
  • You can rest peacefully knowing that you are covered in case of a loss

Practical Ideas

* Take a video camera (borrow one if you have to) and record video of your entire house or apartment. Make sure to open drawers, closets and cabinets so that all of your items are seen in the video. This will provide proof to the Tenant Contents Insurance company that you indeed did own items that you will want to claim if there is a loss. Also, it will help you remember things correctly. Most people tend to forget and leave things off of their claim list until months later when they are missing something and it seem very suspicious to the insurance company to get a call a long time later saying “oh ya, I forgot that I had this in one of the closets too“. As you are filling out the forms, you can watch the video and pause it to list everything in each room.

Very Important: Open drawers, boxes, bins and show the contents. Although it will help jog your memory when you see an unlabeled box in the video, you may not remember all of the contents.

Narrate: Using your narrative skills to tell about the contents of each room will also be significant. While explaining everything, it will also help to tell which store you got it from and approx how old it is or when you bought it. Don’t worry about making something sound too old for the Tenant Contents Insurance. If you get replacement cost insurance, they have to replace it and that means they have to pay for what it actually costs to replace it, not what a used sweater might be worth after 10 years.

Tenant Contents Insurance is a very important and significant acquisition, which you should not delay.

Insurance for Rental Property

Insurance for Rental Property

There are 2 completely different sides to Insurance for Rental Property – the first is from the property owners  perspective who needs Insurance for Rental Property to insure the property and from the renters perspective who also needs Insurance for Rental Property to cover the contents.

Property Owners Insurance for Rental Property

Each tenant poses its’ unique risks and brings both positives and negatives to the table. One of the primary risks is aInsurance for Rental Property total loss of the property from either fire or water. Your tenants simply won’t care about the property as much as you and can unintentionally cause damage to your property that you cannot recover from without proper Insurance for Rental Property. You need to make sure that it is not just a standard homeowners policy, but rather a specific Insurance for Rental Property policy. By providing your agent with a copy of the lease agreement and the dates of occupancy, it will allow them to make the needed adjustments to the coverage and make sure you are covered. Check about the deductible, as this will have a significant impact on your rates.

Renters Insurance for Rental Property

Insurance for Rental PropertyIf something bad happens to the building that you are renting, you may expect to get a check from the insurance company, but don’t get surprised later when reality sets in that all of your things may not be covered at all.

Contents are covered with your Insurance for Rental Property policy, but will not be covered by the owners building insurance policy. Even if you ask the landlord if he is insured, (and he likely is) that does not cover your personal property and he may not even know what is covered. Don’t leave it to chance of his opinion of what might be covered. Take the initiative and call your insurance agent. You need to get specific Insurance for Rental Property,  which is also commonly called a renters policy.

Combined Insurance for Rental Property with auto insurance will give you a significant discount

Anytime you have multiple types of insurance you will likely get a discount from your insurance company. Typically people have auto insurance first and then add on Insurance for Rental Property and your insurance company will welcome your inquiry.

Insurance for Rental Property is a win win for everyone and will keep the peace just in case something bad really happens.