Pointers in Getting Landlords Insurance

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Do you own an apartment? Then you must know that the coverage you need is different from a regular home insurance. Make sure this asset of yours is protected against fire, theft, leaks, liability and all the standard perils your mortgage lender will require you to have.

Here are some important pointers you need to take note of:

* Increase home security – setting up home security will certainly reduce the risks of damages to the property which can potentially lower the home insurance premium by up to 20%.

* Higher policy excess – by increasing the excess you pay in the event of a claim, you are removing some of the risk to the insurer onto yourself. Therefore that would automatically reduce the insurance policy premium.

* Shop around – as we always tell our readers, customers should always get as many different quotes as possible from various insurance companies. By doing so, you’ll be able to compare the coverage and rates. Thus, you’d make a knowledgeable decision in the end.

* No claims bonus – policy holders will be rewarded discounts for making no claims and eventually premiums will be lower. That being said, you should consider if it is worth making a claim so if it would be better carrying out the repairs yourself.

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