How To Get Cheaper Landlord Insurance
You can cut your landlord insurance premiums by 15–40% by increasing your voluntary excess, paying annually, improving property security, shopping around at renewal, and claiming every discount your insurer offers.
Most landlords overpay because they auto-renew without comparing quotes or checking what cover they actually need. A buy-to-let with no contents and no tenants’ fixtures doesn’t need a combined policy, and a multi-property portfolio qualifies for bulk discounts that single-policy renewals miss.
Below are the practical changes that lower your premium, ranked by how much they save. Every tip works whether you’re insuring one let property or a block of flats.
Stop auto-renewing. Renewal quotes are almost always inflated, and comparing providers four to six weeks before your renewal date typically saves 15 to 40% without changing your cover.
See how your current premium stacks up against quotes from 25+ UK insurers.
What cover do you need?
The fastest way to reduce your premium is to strip out cover you’re paying for but don’t use. Many landlords buy combined policies when a simpler buildings-only policy would do the job.
Buildings only vs combined
If your property is let unfurnished, you probably only need buildings insurance and landlord liability. Contents cover is unnecessary when you haven’t provided furniture or appliances.
Removing contents from a combined policy can save £40–£80 per year depending on the sum insured. Check your tenancy agreement to confirm what you’re responsible for.
Furnished vs unfurnished
If you do let furnished, make sure your contents sum insured matches the replacement value of what’s in the property, not a round number plucked from a dropdown. Over-insuring costs you extra for no benefit.
Under-insuring is equally risky because your insurer can reduce a payout proportionally if you’ve declared less than the true value.
Related: What Does Landlord Insurance Cover?
How can you reduce your premium straight away?
Three changes take effect on your next quote and don’t require any physical work on the property: raising your excess, switching to annual payment, and making sure your no-claims history is reflected.
Increase your voluntary excess
The excess is the amount you pay towards any claim before your insurer contributes. Moving your voluntary excess from £100 to £500 typically cuts your premium by 10–20%.
You’re telling the insurer you won’t claim for minor damage, which lowers their risk. Just make sure you can cover the higher excess if you do need to claim.
Pay annually, not monthly
Monthly payment plans include interest that adds roughly 8–10% to your total cost over the year. Paying the full annual premium upfront is one of the simplest savings available.
If cash flow is tight, set aside monthly amounts in a separate account and pay the lump sum at renewal.
Claim your no-claims bonus
Three to five years without a claim can earn a discount of 15–30%. Always check that your claims history is accurately reflected when getting quotes.
If you’re switching insurer, ask your current provider for written confirmation of your claims-free period. Not all insurers transfer no-claims bonuses automatically.
Related: How Much Is Landlord Insurance?
Does better security lower your premium?
Yes, installing approved locks, a burglar alarm, or CCTV can reduce your premium by 5–15%, and some insurers require these measures as a condition of cover.
Locks and alarms
BS3621-approved locks on all external doors are a baseline requirement for most policies. Fitting them, if they’re not already installed, can unlock a discount and prevent a claim being rejected for non-compliance.
A professionally installed burglar alarm earns a meaningful discount, particularly in higher-crime postcodes. Smoke and carbon monoxide alarms are required by law and viewed favourably by insurers.
CCTV and monitoring
Monitored alarm systems and external CCTV carry bigger discounts than standalone alarms. In high-crime areas, the premium reduction can pay for the installation within a year.
Even in lower-risk postcodes, these measures reduce the chance of a break-in claim. They’re particularly valuable if the property sits unoccupied between tenancies.
How important is shopping around at renewal?
Shopping around is consistently the single most effective way to save on landlord insurance. Renewal quotes are almost always higher than what you could find from a new provider.
When to start comparing
Start comparing landlord insurance quotes four to six weeks before your renewal date. Insurers offer their best prices to new customers and gradually increase premiums for existing policyholders.
Having alternative quotes also gives you bargaining power with your current insurer. Many will match or beat a competitor’s price if you tell them you’re leaving.
What to compare beyond price
Compare like-for-like cover, not just headline prices. The FCA’s insurance product information document format makes side-by-side comparison easier.
A cheaper policy with a lower claims limit or excluded perils could cost you more in the long run.
Use comparison sites and specialist landlord insurance brokers. Get at least three to five quotes and check what’s included in each.
What discounts are available for landlords?
Multi-property discounts, professional body memberships, loyalty bonuses, and bundling policies can all reduce your costs. Stacking several of these together adds up quickly.
Multi-property and portfolio discounts
If you own more than one rental property, a multi-property policy is almost always cheaper than insuring each one separately. Some insurers offer discounts starting from just two properties.
Portfolio policies also simplify admin because you have one renewal date, one insurer, and one claims process.
Professional body memberships
Some insurers offer preferential rates to members of recognised landlord bodies such as the National Residential Landlords Association or the Association of Residential Letting Agents. Always mention memberships when getting quotes, as discounts aren’t applied automatically.
Bundling and loyalty
Bundling home insurance with your landlord policy under the same insurer can earn a multi-policy discount. Some providers also reward loyalty after two or three consecutive years, though this rarely beats what a new-customer deal would save.
Related: What Is Landlord Insurance?
| Saving method | Typical saving | Effort |
| Increase voluntary excess (£100 → £500) | 10–20% | None — policy change |
| Pay annually instead of monthly | 8–10% | None — payment change |
| No-claims bonus (3–5 years) | 15–30% | None — claims history |
| Security upgrades (locks, alarms, CCTV) | 5–15% | One-off installation |
| Shop around at renewal | 10–25% | 2–3 hours comparing quotes |
| Multi-property discount | 5–15% | None — portfolio policy |
| Remove unnecessary cover | £40–£80/year | Review your tenancy agreement |
What drives the cost of your landlord insurance?
Your property’s location, rebuild value, tenant profile, claims history, and the type of let are the main factors that set your base premium. Understanding these helps you focus your savings effort where it counts.
Location and flood risk
Properties in high-crime or flood-risk areas cost more to insure. You can’t change your postcode, but security improvements have a bigger premium impact in riskier locations.
Tenant type and let type
HMOs, holiday lets, and student properties cost noticeably more than standard single-household residential lets. If you’re converting a property to an HMO, budget for the premium increase before committing.
Rebuild value and property condition
Make sure your rebuild cost estimate reflects the actual cost to rebuild, not the market value. Overestimating pushes your premium up for no benefit.
Keeping the property well maintained reduces both your claims risk and your premium over time.
Related: What Factors Affect the Cost of Landlord Insurance?
Frequently Asked Questions (FAQs)
Most landlords who shop around, increase their excess, and claim available discounts save between 15–40% on their premium. For a typical policy, that translates to £150 to £400 per year.
Generally no, if you haven’t provided furniture or appliances then contents insurance adds cost for cover you don’t need. Buildings insurance covers the structure and permanent fixtures like kitchens and bathrooms.
Yes, moving from £100 to £500 voluntary excess typically cuts your premium by 10–20%. Most landlords rarely claim for small amounts, so the saving is genuine as long as you can afford the excess if you need to claim.
At least once a year, four to six weeks before your renewal date. Insurers frequently increase premiums at renewal, and new-customer deals from other providers can be much cheaper.
Some insurers offer preferential rates to members of bodies like the NRLA or ARLA. Always mention your memberships when getting quotes, as discounts aren’t applied automatically.