Buy-to-let properties are often viewed as a higher risk than owner occupier properties because the landlord isn’t living in the property themselves. Insurance companies will therefore charge a higher premium to cover this risk however, if you shop around it is still possible to find an affordable price and the right coverage. Below is a list of ways to reduce your premiums:

1. See if your home insurance provider will offer discount on your landlord insurance. Many companies will offer a discount for multiple insurance policies.
2. Consider increasing the policy excess. An insurance company will see you as a smaller risk of making small claims.
3. Installing up to date safety features such as alarms and fire extinguishers will often give you a discount on your premium.
4. Shop around online for hundreds of different insurance companies.

However it is important to consider the type of cover as well as the price. Check that the type of cover provided is what you need. A good insurance policy will cover sheds, garages, personal property and furnishings against disasters such as fire, flood and theft. Other things that may also be included are liability cover, loss of rent, legal expenses and unoccupied properties.

Ensuring the property is fully insured is the best way to protect your investment in the case of disaster. Check that you have not under insured your property otherwise you won’t have enough to rebuild if an accident happens. You have invested a lot into your buy-to-let property so make sure that it’s safe.