As a result of the changes the product now has a five star Defaqto rating.
Paymentshield has broadened its landlord insurance product to accept cases from limited companies, increase buildings cover to £1m and offer contents options from £10,000 to £50,000.
As a result the product now has a five star Defaqto rating.
James Watson (pictured), sales director at Paymentshield, said: “In an ever-changing market, we continue to look for ways we can evolve our overall proposition and improve the experience for advisers and their clients.
“We’ve made several changes to our landlord product to bring it right up to the level of our home insurance product, and to a level that advisers can be proud to recommend to their clients.
“There has been a simplification of the product to make things much easier for the adviser and to ensure that the end customer is properly protected.”
The contents options are £10,000, £20,000, £30,000, £40,000 and £50,000.
Paymentshield’s landlord insurance will now cover asylum seekers as standard, while there are also three add-on products – legal expenses, landlords emergency and rent guarantee
The insurer has simplified the product by removing inner limits, such as those for individual items or contents in the communal areas.
Meanwhile it now accepts policies for properties that have been unoccupied for more than 90 days, or are undergoing renovations at the beginning of the contract.
