Simple Landlord Insurance
Simple Landlord Insurance is a trading name of Millennium Insurance Brokers Limited, a company authorised and regulated by the Financial Conduct Authority (FCA). Millennium Insurance Brokers Limited is in turn a part of the Direct Group which was founded in 1990 and has now become part of the international entity Ryan Specialty Group.
The Direct Group claims that it currently manages more than 3 million insurance policies and employs some 400 staff in offices around the UK, including Manchester, Doncaster, Elland, Preston and London.
The company points to recent recognition by What Mortgage Awards 2013, Landlord and Letting Awards 2012/13, and Landlords and Buy-to-Let Magazine.
Arranging landlord insurance is typically a question of knowing what type of cover you need and identifying the most competitive price for that protection. Some of the factors you might want to take into account are:
- if you own more than one let property, the possibility of achieving substantial discounts by arranging a multiple property policy;
- the fact that online insurance providers bear none of the overhead costs of maintaining an office on the high street – with the result that premiums are typically cheaper;
- tenants – depending on the your market, you might want to make sure that your insurer accepts lettings to all tenant types, including for example students and/or benefits claimants;
- loss of rent following an insured event that makes your property uninhabitable – what degree of compensation, if any, does the insurer provide; and
- whether accidental damage is covered – including damage caused by your tenants, for instance.