Landlords Insurance
Landlords Insurance




Is it better to compare landlord insurance or are comparison websites just out for the money?  In this article, I will explain what the benefits are of comparing insurance for landlords. And to see if it's worth your time. I have listed 18 reasons why online websites are beneficial to you and why you should be using them or not.


When you have finished reading, you will be able to understand exactly why these websites work. Learn why saving landlords money is a must and where the best deals are.




One of the most obvious reasons why comparison websites work for landlords is the time factor.  Yes, they do save you time as you do not have to fill in different forms from different websites and individual sites.  Let's say you wanted 40 different quotes for contents or buildings insurance for your landlord business.  


You would have to visit the most popular insurance companies you know about, fill in their web form and move on to the next one.

So you can see the time-saving aspect, so let's move on to the next reason.




While it is true that you can find a better price by comparing quotes. It is also worth knowing that the price should be based on the quality of the policy. But yes, there's always a better deal on the table for many landlords because they are so many types of policies available. That's another good reason why you should consider using an online website. One that compares many different quotes from different companies and brokers. 


So yes you can always find a better price, let's move on the next reason and learn where to find them.




Because there are so many different policies and different landlord products, the competition is insanely fierce.  These companies spend hundreds of thousands and even millions of pounds every single year. They are many big players in this industry like Direct Line and Admiral, but there are also several good brokers that have established their selfs over the last 20 to 30 years.


Some of them have special conditions written into policies by their underwriters, which means they can offer you certain discounts on certain policies.


Usually, the bigger players can offer you a better deal because of all that their clout they have in the market. Now this doesn't mean that smaller insurance companies cannot offer you something different. 


They can you just need to look around and that's another handy feature of a comparison website. That's why you should compare landlord insurance.




Because landlord insurance can be a bit difficult to understand just like any other insurance, like your car or your home.  Understanding what you need to cover your rental properties can be a strain, but not if you have the right help at hand.  


The brilliant thing about using one form to contact several advisors is the fact that all your questions are answered within a few short minutes.  This is another handy feature of using a landlord insurance price comparison site. You can find the proper policy to secure business if you know where to look, simple.


Are you ready for number 5 on the list? Here it is.




Companies like Direct Line, decided not to take anything to do with comparison websites around five years ago. They wanted to be different.  To be fair that's perfectly ok because it also gives you a better option and another angle.  


Sometimes it is better than going direct because most people trust larger brands.  What you need to remember about insurance is that every insurance company is regulated by the government. Every policy is written by the law of the land. 


So if you look at it like this... The reason why most consumers choose to go on price rather than the policy is the price. As long as it covers what you need in a typical letting business, that's all you need.


A lot of landlords say that getting a quote from more than one company is better than going directly to one company.  This is a choice you'll have to make for yourself and your business. At the end of the day, it doesn't cost anything to get a quote from the larger brands.


Number 6, here we go...




When you fill in that little form on that comparison website. You are not only contacting companies you have heard of, you are contacting insurance companies you have never heard of before. You just never know what you're leaving on the table and you will be allowing yourself to open up more doors.  


New insurance companies start up every single year and remember they have to be regulated by the government, so it's safe and trusted. So as long as they have underwriters to support them, you are cool to go with better rates if you find one from small brokers.


I know this article is rather long, but it is quite detailed. By the end of it, you'll be able to make a better decision on whether to compare landlord insurance quotes or call a company you saw on TV or heard on the radio.  The purpose of this article was to open up your options. So you can see you have plenty of choices instead of getting forced into a corner by any company.


Hey, you've done really well getting to this point.  Here is reason number 7.




Do you know insurance companies work hard to bring you the very best policies on the market?  Most people think insurance companies are a rip-off because of high charges for cancellations and amendments.


You don't really see behind the scenes when it comes to processing a policy or what an actual broker will do to bring you the very best results. Yes, they do have software which makes their job a lot easier. 


But that software needs to be maintained on a daily basis because insurance prices change on a day-to-day basis. You also get the company reputation that goes along with your policy. Some landlords don't recognise this because most people don't want to pay for insurance and think every firm is the same, there not. 


There are so many variables you don't see which forms a company, especially in the insurance workplace.  These companies do work nail and tooth for you by making the process of actually buying a policy easy.


This comes to the end of number 7 on why you should let them do the hard at work so you don't have to. 

Do you know that landlord cover is not a legal requirement?  It's one of few types of policies where you don't have to buy it by law and thank God for that.


Are you ready for number 8?




Hey, do you know you can set up a policy just by email?  Yes just by providing your email address and obviously the rest of your details. You can start your policy and minutes. You can do this no problem if you only have one property if you're just starting out as a first-time landlord. If you are a multi-property landlord then it would be best to actually contact the insurance company and speak with an advisor. 


There's a lot to go through if you own multiple properties because you need to add each property individually (under the same policy of course).




Do you know the Internet is still very young?  In the next 20 years, you'll be doing everything electronically when it comes to insurance and stuff like that. It's already a quarter of the way there and there's a long way to go.  


I don't know exactly how we would communicate with the Internet in the future. Maybe, by tablet or a mobile phone still or a communications device that's integrated into your body or your eyes, who knows.  What I can tell you is that comparing landlord insurance is very handy and it's here to stay.


Ok, you know it's handy. Let's move on to number 9 on the list.




This type of business model is very effective because it places the consumers first (YOU) on the list. A good comparison website will bring up the cheapest quote from around 50 to 100 firms and brokers. That's why so many people love them and use them every single day. Do you know that more people use comparison websites then going to the insurance company itself? In fact, around 60% of UK citizens use comparison websites?  


If you want a closer look to follow this link.


Hooray! We've reached number 10.




The most plane but not an obvious reason why it's better to compare landlords insurance online is the option to buy much quicker.  Not every policy can be bought online but you can do it with a landlords insurance policy. Because the online systems have come a long way. 


Just like you would pay for your car insurance or any other type of business insurance you can easily buy a landlord policy the same way.


Buying online does make a difference when it comes to saving time. Remember if you choose to pay monthly for your landlord insurance there may be additional charges rather than going for the annual option.


Buy online when you can because insurance companies pass the savings on to you. They can do this because everything can be done without actually talking to someone (hiring more staff).  Every single year more insurance companies are taking people out of jobs because of technology. Standard Life who in 2004 axed 1000 jobs in the UK to save 100m a year. This was probably due to the internet and other aspects of the business or saving company resources.


All that get's passed to you, yes it really does. Remember insurance companies can't lie like that or the law would come down on them. 

They need to prove this fact or are they lying? 


My god you have reached number 10. 


I didn't think you would get there but we did at the end. I hope you like this information because I have worked hard to put it together for you.  And there's more, in fact, another 6 more benefits of why you should compare let insurance for your landlord business.  


So here we go another 6 reasons for you to get stuck into.




When you buy a policy online you should be able to go into the system and change relevant details regarding your business. When your business changes like adding a new property to your portfolio or taking one off, the process should be very simple.  This all depends on the insurance company choose because not all companies have bespoke systems in place for landlords. 


There are just a few.


The rest are catching up and soon every insurance company will host their services online. Then you can do whatever you want to your policy as the business changes. You'll be able to cancel it or renew it with a few click. While it is not necessarily important to manage your policy online, it can save you a great deal of time because no one likes waiting on the other side of a phone ( including me).


It's the age of technology do everything online while you can.




If you manage a portfolio landlord business it's an even better idea to compare rental property insurance because you definitely want to save some money here if you can.  If you take all your policies out with the same insurance company you're guaranteed (please check this). You can expect a discount of at least 10-20% of each property. Then again depending on who you take out a policy with. 


All I would say to multiple property owners is that you should compare insurance every single year.  Don't stick with the same landlord insurance company because insurance rates change from day to day like I said before.  You could save hundreds of pounds on an annual basis for a half hour's work.


It is worth checking out so give it a go and compare every year.  This is the best advice I can give you.




If you have a specialist property like a property with a flat roof or a listed building or you're looking for tenant insurance for asylum seekers.  You should definitely use a comparison system for special types of insurance. This makes it quicker so you can contact the relevant insurers the one form. 


Other specialist insurance like commercial landlords insurance for a factory and other commercial units can be compared. You may be looking for high-end landlords insurance because you have a very expensive property in the heart of London.


You see, there are countless reasons why you should use a comparison website. You should always compare letting insurance for any specialist cover.




You have that ability to sort out a policy in under 30 minutes. This is great for most landlords because you want to make sure you're getting the best deal and get covered.  When the insurance company or broker phones you back, you can choose a policy right there and then.  


This is really handy if you have a flat that's been empty or unoccupied for the last six months.  While you're waiting for them to move in, you can get online and start comparing quotes. Then take the policy out in under 30 minutes if you move quickly and go straight to it.




The great thing about insurance companies is the fact that you can acquire other discounts. If you take more than one policy out with the same firm. Some companies will offer you discounts on your car insurance or home insurance or your life insurance.  You'll be sort of taking out an umbrella policy that covers everything in your life with the same company.  


Just one thing to remember and that is to do a comparison every year for all your insurance products, no matter how many you have. 


I know this sounds like a pain in the neck, but I can assure you it could save you hundreds every single year.  And all you are doing is an hours work to go through everything if you have several policies. Or up to 15 minutes if you only have one of two.




The great thing about consumer choice is the fact that you don't have to take a policy out through one comparison website.  You can use them all and that's what you should be doing if you want better deals. Use the ones you have heard of before and the rest. Search everywhere until you get a small list of the best ones. Use the sites every single year to compare insurance quotes for landlords including using (this website) eLandlord of course. 




Do you know you can use this website to compare landlord insurance from various insurance companies and brokers?  Yes, it's absolutely free to use with no obligation to buy.  You won't be annoyed with hundreds of various emails or phone calls.


We will never sell your information because we are not actually an insurance company or provide any sort of insurance.  Our job at eLandlord is to provide guides for landlords so they can make appropriate decisions and so we can steer you in the right direction.


Compare landlord insurance quotes from loads of websites with one form right here with eLandlord. (Click here)

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