We’ve checked out the landlord insurance from More Than and highlighted what’s covered to help you decide if this insurer can offer you a good deal.
Although landlord insurance is not a legal requirement when renting out your property, it can protect you against the unexpected and give you that peace of mind that you won’t be left out of pocket if something goes wrong.
More Than offers 5-star Defaqto-rated residential landlord insurance. The insurance provider says its cover includes accidental and malicious damage as well as public liability cover for the property owner up to £2 million. What’s more, existing More Than customers could receive discounts for taking out additional insurance policies that protect other investments. Here’s what else we think you should know.
More Than landlord insurance
Who is More Than?
More Than was launched in 2001 and provides a range of insurance products, including landlord, car, van, pet, home, caravan and travel insurance.
More Than is a trading name of Royal & Sun Alliance Insurance plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
What is covered under my policy?
- Buildings insurance. Fire, flood, burst pipes, vandalism damage or theft
- Malicious damage. Cover for repairs to deliberate damage caused by tenants
- Accidental damage. Cover for repairs to accidental damage caused by tenants
- Public (property owners) liability insurance. Cover up to £2 million
- Legal defence costs. Cover up to £250,000
- Legionellosis liability cover. Cover up to £2 million
Check your policy details carefully to ensure you have the right cover for your needs.
Optional extras
More Than offers a range of additional protection to bolt onto your policy, including:
- Landlord contents insurance. Four options available covering up to £5,000, £10,000, £25,000 or £50,000
- Rent guarantee insurance. Cover for any loss of rental income while repairs are being made
- Home emergency insurance. Cover if your property springs a leak or your boiler breaks down
- Enhanced public (property owners) liability insurance. Cover up to £5 million
- Enhanced Legionellosis liability cover. Cover up to £5 million
What is my excess?
Your insurance excess is the amount of money you will need to pay towards a claim. Your insurer won’t pay out for a claim that costs less than this amount. A compulsory excess amount might vary depending on the age of your van and your driving experience.
A voluntary excess is on top and is normally set by you when taking out a policy. You’ll have the option of adding or increasing a voluntary excess – which should lower your premium.
You’ll find details about any compulsory or voluntary excesses in your policy document.
General exclusions
You could risk invalidating your landlord insurance if any of the following arises:
- Any intentional act committed by you, your family or anyone acting with your consent
- Water entering the building through an opening made to renovate or extend the property
- Poor housekeeping by your tenants, such as unhygienic or untidy living habits
- Rust, wear and tear, mould or mildew
- The lawful seizure of your property
- Loss or damage caused by insects or vermin
- Repairs carried out by the tenant with your consent
- If you breach the lease agreement
- Loss or damage that arises due to keys being provided for property inspections
- The tenant using the property for trade, manufacturing or childcare with your knowledge or consent
- If the property is vacant, is not advertised for sale and no effort is being made to either prepare the property for a new tenant or find a new tenant
How to save on your landlord insurance through More Than
- Increase security. Fitting a security alarm to deter thieves may be a good idea.
- Maintain the property. Staying on top of general repairs could reduce your need to claim and therefore lower your premium.
- Increase the excess. Agreeing to pay a bigger voluntary excess could make your overall premium cheaper. But remember that your insurer won’t pay out for a claim that costs less than your excess. So be careful about making it too high, as it could leave you out of pocket if damage occurs.
What is the claims process for More Than?
You should call the More Than claims line on 0330 102 4098 to make a claim.
This 24-hour claims line is open seven days a week.
Alternatively, you can complete the initial online claims form within the claims section of the More Than website.
Depending on the nature of your claim, you will need to provide the following information:
- Your policy number
- Original documents such as receipts, invoices, manual booklets or photographs that can confirm the age, make, model or cost of the item you are making the claim about
- The date you bought the lost or damaged item
- Written confirmation by a qualified professional such as an electrician that electrical items cannot be repaired
It’s vital that you let your insurer know about an incident as soon as possible. Failure to do this could result in a rejected claim later on.
More Than pros and cons
Pros
- More Than’s landlord insurance is 5-star Defaqto-rated
- Claims line is open 24/7
- Policies can be enhanced with extra protection
Cons
- Contents cover is not included as standard
- You will have to pay an admin fee if you decide to amend your policy