Pearson Ham has launched a landlord insurance price tracking service, which has revealed big differences in what landlords pay for insurance across the country.
The research found that where a property is located made the biggest difference to premiums.
Annual costs ranged from £66 in lower-risk areas like parts of Romford or Birmingham to over £1,100 in higher-risk postcodes.
The median premium sat at around £300.
Local crime rates, rebuild costs and flood risks all pushed prices up or down.
More experienced landlords paid lower premiums, but the difference was not huge.
The data found that those new to letting property paid about £40 more a year than experienced landlords.
Owning more properties brought some savings, with those holding four properties paying on average £20 less per property each year than single-property landlords.
Portfolio policies helped on admin and extras, but location and property type still had the biggest impact on price.
Landlords renting to working professionals paid average premiums around £215, while those renting to students saw this rise to around £320.
Using a professional letting agent made a small difference, with some insurers offering better rates for fully managed properties.
Stephen Kennedy, director at Pearson Ham, said: “With the landlord insurance market in flux, we’re seeing a lot of misconceptions.
“We want to bring transparency to these pricing dynamics.
“By continually monitoring these trends, we can help insurers price more fairly and help landlords navigate further flux in the market.
“Ultimately, we aim to help informed landlords shop around or negotiate better, and enable insurers to refine their offerings – providing benefits to both through better information.”
