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Guide To Simply Business Landlord Insurance

Simply Business Landlord Insurance provides insurance-related services to landlords who rent out their properties with flexible and customised coverage. It helps you to compare rates from renowned brands and select the level of coverage that is right for you. 

Simply Business offers products online on behalf of a broad panel of carriers, including NIG, Chiswell Insurance, More Than, Hiscox, AXA, Zurich, AIG, Covea, and Churchill.

Simply Business Insurance services ensures a comprehensive approach designed for the client in which building insurance, contents insurance, tenant default, and rental property insurance can be added. Furthermore, property owner's liability, public liability insurance, and other types of landlord insurance can all be combined into a single policy.

What Does Simply Business Landlord Insurance Cover?

Simply Business is one of the largest business insurance providers in the UK, insuring over 315,000 landlords. They aim to provide cover is for landlords that can be a tailored to meet the personalised needs of the landlord.  They provide multiple cover options, letting you compare quotations from major companies and select the level of cover that best meets their needs. If you are in the market for Landlord or buy to let insurance be sure and check out offers from others including John Lewis, Tesco and Aro Landlord lord insurance come renewal time.

This includes many types of property insurance, such as buildings, contents, tenant default, property owners' liabilities, and more, into a single policy. Simply Business insurance services are able to provide cover for a wide range of properties, from flats and houses to HMOs and commercial buildings.

Depending on the property and the landlord's conditions, landlord insurance can start as low as £9.53 per month.

What Types of Properties Are Covered?

Simply Business provides a selection of property insurance products to meet your individual requirements. For starters, their building insurance is intended to cover the expense of repairs or rebuilding work to your property's physical structure and permanent fixtures. 

This coverage protects your investment from probable damages due to disasters such as floods, vandalism, storms, and subsidence. Simply Business also offers contents insurance, which covers belongings that are not covered by the building insurance. This includes carpets, furniture, technological equipment, and other personal belongings on the property.

It's crucial to note that landlord cover often does not cover tenants' goods, as it's the obligation of the tenants to arrange their own content's insurance. Furthermore, Simply Business provides essential add-ons that may be added to your policy to provide further protection. 

Landlord liability insurance, for example, provides a minimum amount of public liability coverage. This means that if a tenant is hurt or killed on your property, you will be protected from any compensation fees.

Rent loss insurance is another useful cover. This policy protects you against any unexpected loss of rental income from tenants. This could result from a variety of circumstances, including your home becoming temporarily uninhabitable due to damage or other concerns, tenant default or loss of rent.

Simply Business provides a platform where you can compare quotes from several suppliers to help you make an informed insurance selection. Before you do so, you can use a comparison table to compare the features of various policies offered by leading brands.

You can then apply for the coverage that best meets your individual cover needs by clicking on the offered links. This thorough approach enables you to make an informed decision to protect your commercial property successfully.

How Property insurance is calculated and how to save money on the cost of cover

The cost of property insurance for the same exact property can and will differ depending on a member of factors, some like the post code you have no control over, but for others you can take steps to reduce the final cost, some of these factors are listed below.

  • Location or post code :  Avoid buying properties that are associated with higher crime rates. If the property has a postcode that is linked to a higher crime rate, expect to pay more than a similar property in a more safe area.
  • Make the property more secure :  By making the property secure and safe, you will be reducing of claims. For example, having a smoke alarm will reduce the risk of serious fire damage. Installing deadlocks on windows and doors will reduce the risk of theft and vandalism. Collectively, these actions should help reduce landlord insurance cost. 
  • Unoccupied or Lived in : If the property is left unoccupied, you will need to consider short term unoccupied house insurance, which will be more expensive as risk to the insurer will be increased.
  • Level of Cover : Like any insurance the more cover and the lower the excess the higher the policy premium.
  • Claims Frequency : If you make regular claims, this will be flagged as an additional risk factor and again expect o pay more than a landlord with no or fewer claims.
  • Type of tenancy : If you have choice, choose a tenant that present lower risk, example a professional tenant over a DSS tenant or students. Cover is still available with student landlord insurance or DSS property insurance, but as risk to the insurer is higher, expect to pay a higher premium.
  • Pay Annually : Most providers including Simply Business will charge an additional fee and interest payment for processing monthly payments, before deciding to pay monthly or annually check what these charges will be.
  • Skip small claims :   making small claims can lead to an increase in your premium or disqualify you from future no claims discounts offered by simply business. As such, you may be better off to pay for smaller claims out of your own pocket.   
  • Increase The Voluntary Policy Excess : Most providers will reduce the premium if you are happy to take more responsibility for cost in the event of a claim.By agreeing to a higher voluntary excess, you are doing exactly that, but be prepared to cover this. Best to set this aside in a high interest earning account.

Simply Business Highlights

Simply Business Insurance Services is one of the largest business insurance providers in the UK. The procedure of obtaining complete coverage for your rental properties is simplified and made efficient with a range of communication channels to guide the customer through the process. Filling out a simple form allows you to quickly receive information regarding various compensation costs and legal costs.

Their user-friendly platform also provides you with online access to policy documentation as well as a 24-hour claims procedure service, ensuring simplicity and ease of management. Plus, you get to be eligible for no-claims discounts, which can result in long-term cost reductions.

Notably, Simply Business Insurance for landlords is designed expressly for rented properties, protecting you from being under-insured as long as you choose the appropriate level of coverage to meet your exclusive requirements. This is a significant difference from normal home insurance

Simply Business Insurance FAQ's

What Insurance Do I Need as a Private Landlord?

Private landlords must have landlord insurance. It typically includes building coverage, liability coverage, and optional coverage for contents and loss of rent.

How to Get Cheap Landlord Insurance?

Compare quotes from different providers, consider raising your deductible, and look into discounts to find affordable buy to let insurance. Maintaining good property conditions and a track record of responsible landlord behaviour can also help lower premiums.

Is Simply Business Legit?

Simply Business is, in fact, a legitimate insurance brokerage that provides a variety of insurance products, including home and public liability insurance. However, before making a decision, always conduct thorough research on any provider.

Why Is Landlord Insurance So Expensive?

Landlord insurance can be expensive due to factors like location, property type, coverage level, and the insurer's assessment of risk. High-risk areas or properties with a history of claims may lead to higher premiums.

Compare Landlord Insurance and Home Insurance providers

Looking for a good deal on home or buy to let insurance? Finding the best deal will involve some upfront work comparing the available deals and making sure you are comparing like for like.  Some providers on your list should include Sainsbury's Bank landlord insurance, Just Landlords insurance, Aro, Tesco Landlord insurance being a few examples of some of the key providers.

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