House insurance - moving from PPR to letting

[King Kong]

Does any know the implications on house insurance of moving out of your current home and letting out the property? I'm moving out of Dublin and will let out my current PPR there - are there any particular restrictions on getting insurance for that property as a landlord?

The couple of places I've looked for info so far suggest that the property has to be my residence or not unoccupied for more than 30 days. Given that this is first letting I have no idea as to the likelynood of the property never being occupied for more than 30 days (seems like wishful thinking though).

If anyone has any insight, I'd appreciate your thoughts or suggestion on who offer the best insurance produc in this circumstance..

 

[RainyDay]

You need to tell your insurance company. They may well increase your insurance fee.

 

[Ravima]

Try your lending institution for a quotation. Many lending institutions do not appear to load the premium as much as the native insurance companies.

 

[Budgie]

Agreed. Ulster Bank Home Insurances did not increase mine when I switched from PPR to letting. (Although not sure that it was the cheapest in the first place!)

 

[delgirl]

You will need Landlord's Liability Insurance - in case your tenant injures him/herself on your property and holds you liable.

You may also wish to avail of Loss of Rental Income Cover - this covers periods during which the property may be uninhabitable due to fire, water damage etc., costs approx. E50 per annum and can be offset against rental income for tax purposes.

I have two properties insured with FBD and have found their service good and rates competitive.