Landlord Insurance Quotes Macomb MI

Here is a list of the 5 main things that you will need to get a landlord insurance quote, also known as buy to let insurance or let property insurance:

1. Risk Address. What is the full address of the property you want to insure? The most important part is the post code.
2. Type of Tenant. Know what type of tenant is in the property, whether it be a working tenant (referred to as Professional), Student, DSS, Asylum Seeker, Retired, etc. Also know how many tenants are in the property (normally a family is considered as one tenant).
3. Year Built. What year was your property built?
4. Building Sum Insured. This is the re-building cost of the property or re-instatement value. The only accurate way to find this out is from an up-to-date survey. If you don't have one of these, then you can find calculators online, but these will only give an estimate so I would suggest avoiding them. When you are dealing with something of such value, a survey is almost essential.
5. Contents Sum Insured. This is the total value of all your contents left in the home. It would not include the tenants' contents as this is their responsibility and not yours. It is purely the value of your contents (i.e. furniture, carpets, curtains, etc).

If you go to the insurance provider with the above information then you should be covering most questions that they will ask. It is recommended that you have copies of any surveys and previous insurance history, and there are other questions that will probably be asked before you get your landlord insurance quote. Every insurance company is different, so just make sure you are well prepared....

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Author: Steve Smith