More Than Landlord Insurance Review: How Does It Compare To Its Rivals?
More Than Landlord Insurance Review: How Does It Compare To Its Rivals?
Good for
- Multiple property discount
- Excellent customer reviews
- Cheaper than other providers
- Flexible add-ons
Bad for
- Less robust on features
- Landlord contents cover not included as standard
Product update: From 29 February 2024, MORE THAN will no longer offer landlord or commercial landlord insurance to new or renewing customers. If you're a current customer, you'll continue to be insured and your cover will carry on as normal for your full policy year. You can get in touch with them to make a claim and make any other changes in all the usual ways.
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Established in 2001, More Than is a specialist insurance provider offering coverage across a range of different areas including car, travel, pet and landlord insurance. More Than pride themselves in being one of the UK’s leading providers and have impressive stats to back this up — according to their own research, on average they sell an insurance policy every 2 minutes!
With this in mind, you might be wondering just how good More Than’s landlord insurance offer really is.
Well, upon first impressions it would seem they are considered to provide an ‘average’ product and that they have the basics covered in their policy as standard. Nevertheless, it’s still important to look at the bigger picture here to see if More Than really does offer value for money.
In this review we’ll take an in-depth look at More Than’s landlord insurance offer, from customer feedback, what is and isn’t included as standard and importantly, how their cost compares to their rivals.
In This Review
- More Than Landlord Insurance: Overall Review
- How to Claim
- More Than Landlord insurance: discounts and savings
- FAQ’s
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More Than Landlord Insurance: Overall Review
With a range of different insurance products in their repertoire it would seem that More Than really know their stuff — offering specialist cover for cars, your home and landlords (both residential and commercial alike!), it appears they really do have something for everyone.
Indeed, More Than have gained quite a few accolades since their inception in 2001, winning 'Best Home Emergency Cover Provider' at the What Mortgage awards in 2013 as well as winning ‘Best Overall Insurer' at the same awards in 2014. But how does More Than's landlord insurance offer fair when compared to their big-name rivals on the market?
Well, from our research we found that More Than certainly offers a respectable range of benefits in their standard landlord insurance policy, including some cover that many of their competitors only offer as an optional extra for an additional cost. Furthermore, not only do More Than offer insurance for landlords with individual buy-to-let properties, they also provide cover for landlords with property portfolios and even those with commercial properties, too! But there are things they could do better, which we'll get into more in a bit.
So, what do More Than's customers themselves have to say? First impressions appear very positive. In fact, More Than have earned a rating of 4.2 out of 5 according to the product rating website Reviews.io and a further 3.9 out of 5 on Trustpilot, indicating a 'great' customer experience.
However, it is important to note that these reviews reflect More Than as a whole, and not their landlord insurance offer specifically. This means these glowing customer experiences may not accurately reflect those that have purchased landlord insurance — indeed, these consumers may have had a better or worse experience! Nevertheless, this does suggest More Than do place importance on how they treat their customers which is a huge positive when dealing with something as potentially confusing and complex as landlord insurance.
To gain a better understanding of just how well More Than's landlord insurance stacks up against its rivals it is crucial we look at the whole picture, such as what is and isn't included (as well as anything that is missing altogether!), landlord feedback as well as how their cost compares to competitors.
Let's first take a look at why you should be considering More Than for landlord insurance...
Why choose More Than Landlord Insurance?
More Than offer a range of benefits for customers wishing to purchase landlord insurance through them — here are some that we feel you should know about:
- Cover up to five properties in one policy: if you're a landlord with multiple properties you can save up to 15% on each additional policy
- Excellent range of add-ons: choose from a range of add-ons available to purchase alongside your main landlord insurance policy, such as landlords contents and home emergency cover
- Excellent customer feedback: as a company, More Than overall perform strongly in terms of customer experience instilling confidence and trust
- Value offer: we found that More Than's standard landlord insurance cover was cheaper than many other providers on the market
Customer reviews and ratings
|
More Than Customer Ratings | |
|---|---|
|
Reviews.io Rating | 4.2 out of 5 |
|
Trustpilot Rating | 3.9 out of 5 |
|
Smart Money People Rating^ | 2.8 out of 5 |
^Note: this rating is based on a small sample size of just 100+ reviews, use as a guide only.
Generally speaking More Than performs well in terms of customer experience and feedback, though it's important to remember that this reflects More Than as a whole and is not landlord insurance specific.
According to over 1,450 customer reviews on the company and product rating website Reviews.io, More Than score an impressive 4.2 out of 5. Taken together, this shows that 83% of customers would recommend More Than to a friend...very impressive indeed! Similarly, More Than has earned itself a rating of 4.1 out 5 across over 12,800 reviews on Trustpilot indicating a 'great' customer experience.
As we stated previously however, these reviews reflect More Than as a company, and not their landlord insurance offer. It is possible that customers who have purchased landlord insurance from them have had a better or worse experience, so do take these ratings with a pinch of salt.
Whilst the reviews we have seen so far indicate a very positive customer experience, this is not always the case. We found that More Than score a comparatively disappointing rating of 2.8 out of 5 according to the financial services review and insight platform Smart Money People, suggesting more of an average experience with More Than overall.
Again, this rating is not landlord insurance specific, but can still offer insight into how More Than conduct themselves as a company. This lower rating does come with a caveat, however, in that it is based on only 90 reviews — so again, we suggest using this as a guide only.
We think their features leave some room for improvement, but let's take a look at what More Than's customers themselves have to say...
What does More Than Landlord insurance do well?
We reviewed hundreds of pieces of feedback left by verified customers to see what had them singing More Than's praises. Overall, there appear to be some stand-out areas, notably, their friendly and helpful customer advisors, competitive prices and the clarity and simplicity of their website.
Many commented on the fact More Than present their information clearly, which is especially welcome given how complex and jargon-filled the world of insurance can be. Others also note the ease with which they were able to use the website and obtain a quote, all things that make the overall process of buying insurance less stressful!
“Customer service team are always so helpful and friendly. They are always professional and want to help the customer as best as possible. Very impressed with everyone I have spoken to in the past regarding renewals and make the process easy”
“I have just renewed my house insurance with More Than. I spoke to a lovely lady...whose customer service was absolutely wonderful. She was friendly and professional throughout the telephone call. I very rarely post reviews but I feel it was warranted in this case”
“Information on site is very good and easy to navigate and understand. Very pleased with experience of this site”
“I find More-than very competitive, and I like the online access and when I do have to contact them they are always very helpful”
“Excellent website one of the best, clear, quick and simple- got quote and cover so easily, other companies take note”
“It was very easy to navigate your site and get a quote. I used the chat line to obtain more information which was very easy and helpful. all information about your products was very clear”
“The website is easy to use and prices very competetive”
What can More Than landlord insurance improve?
As always, there are inevitably areas that could do with being improved and More Than is no different. We found that customers were particularly frustrated when trying to make a claim on their landlord insurance as they found the cover to not be what they expected—in many cases, advisors seemed to tell them different things regarding what was covered in their policy, leading to frustration and confusion amongst their customers.
Some also commented on the inadequacy of their emergency home insurance offer, with delays meaning that in some cases tenants were left days until an appropriate solution was found.
“I have had landlord insurance with More Than for 3 years and until now never needed to contact them. A simple enquiry turned into a nightmare of phone calls and emails. They might do car insurance ok but my advice is don’t touch them for landlord insurance, they simply don’t know what they are doing and couldn’t even provide me a copy of my policy”
“I have landlord buildings cover + home emergency cover. We identified a leak from the wc on monday, reported it on tuesday and plumber arrived late tuesday pm. He didn't have part and said...he would be back wednesday. He's not arrived, nor got in touch...Told me you were still awaiting info, costs from the plumber. You'd then need to assess it, check it against my policy, then authorize ordering of parts before then arranging revisit. This is not my idea of appropriate service from an 'emergency' cover provider. I was told 'up to 3 days'. That is really unacceptable. This is not 'fit for purpose'...This is seriously bad customer service. Tenant is young mother with 4 week old baby & 7 year old daughter”
“Landlord insurance, almost a waste of time and better of without it. Little communication, spend most time telling you what you cant do or what they wont pay for. Eventually advised to pay out of my own pocket?”
“Without a doubt when I took out my policy everything seemed and sounded perfect which of course it would when More>Than was gaining the benefit. Soon after 7 years of no claims and paying my Landlord Insurance on time to my shock I had to make a claim. From the first phone call everyone I spoke to had something different to say about the cover and policy. Without any sufficient evidence as to what the problem was More>Than started pointing fingers to random problems which did not exist, each one of course being something which they do not cover”
As with any product review context is important. Sometimes frustration and complaints are a result of customers simply not knowing or understanding what is covered under their policy, which could be the case for some of the above reviewers. The documentation given to you when you agree to take out landlord insurance is often full of jargon and can be a lot of information to digest, so of course details can be overlooked.
Take this scenario, for example. If you find that there is a leak in one of your rented properties and you wish to make a claim, you may find that your policy will cover the costs of fixing the damage caused by the leak, rather than the leak itself. It sounds almost counter-intuitive and may lead to you to becoming quite annoyed with your insurance provider when they tell you this is outlined in your policy documentation.
It is for these reasons that we always recommend reading your policy wording carefully so you know your rights and don’t get caught out.
How much is More Than Landlord Insurance?
We have compiled quotes for a 1 bedroom flat located outside of London in a mid-sized town, with a rebuild value of £200,000 to give you a view of what a no-frills policy could cost you. We found that with buildings insurance and property owners liability of £2million as standard, More Than provided us with a sample quote of £147 — the fifth cheapest quote we received overall, beaten only by CIA, Alan Boswell and LV=. In fact, this sample quote is around 8% cheaper than the average across all of the sample quotes below.
| Landlord insurance quote comparison for a 1 bedroom flat (£annual) | |
|---|---|
|
CIA | £264 (highest sample quote) |
|
PremierLine | £248 |
|
JustLandlord | £242 |
|
Towergate | £220 |
|
AXA | £220 |
|
Aviva | £214 |
|
Let Alliance | £202 |
|
DirectLine | £198 |
|
Home Protect | £196 |
|
Endsleigh | £168 |
|
MoreThan | £147 |
|
CIA | £128 (lowest sample quote) |
|
Alan Boswell | £112 (highest sample quote) |
|
LV | £91 |
|
Alan Boswell | £56 (lowest sample quote) |
Of course, these quotes are intended to be used as a guideline and your quotes may be higher or lower depending on your own individual circumstances.
Nevertheless, considering it is less pricy than many of the other landlord insurance providers we sampled from, you may be wondering if More Than offers you less cover in their standard policy. Let’s take a look at what is and isn’t included to see if the low price is worth it.
What is and isn't covered?
More Than offers a good range of benefits in their standard landlord insurance cover, including some features that its competitors only provide as an option add-on. That being said, More Than does not include landlord contents insurance as standard, so you'd need to add that if you want it. Here is a summary of what was included in our sample quote:
- Buildings insurance: covers the cost of repair if your property is damaged as a result of events such as fire, smoke, explosion, lightning, storm and flood. This also covers any damage or loss as a result of theft or attempted theft, subsidence, landslip or heave
- Accidental damage to buildings: if your property structure is damaged accidentally, this will cover the costs of repair. Note, this may only apply to certain areas of the property so read your policy wording carefully
- Landlord liability (£2m): this will cover the costs if a third party makes a claim against you for suffering sickness, injury or if their property is damaged as a result of your actions or your property
- Malicious damage by tenants: if a tenant intentionally loses or damages your property or any contents that you supply using physical force or violence, More Than will cover the costs associated with repair and or replacement. Note, this only applies to certain tenancy types
- Replacement locks (£5,000 limit): as standard, More Than will cover the cost of replacing locks or parts of the locks for your property if the keys have been stolen or duplicated
- Unauthorized use of gas, electricity or water: will help cover the costs following unauthorized use of these services supplying your property, for which you are legally responsible
- Legal defence (£250,000): covers legal costs and expenses related to criminal proceedings or an appeal against a conviction for an offence which is alleged to have been committed against you or an employee. Note, this must be related to a breach of the Health and Safety at Work Act (1974) or the Health and Safety at Work Order (1978; Northern Ireland)
Optional add-ons
Some of these "extras" are often considered to be pretty important, and since they're not included as standard, it's key to be aware of what additional coverages you could need.
- Landlords contents: if any of the contents you provide to your tenants are lost or damaged as a result of any of the events above (as well as any others outlined in your policy) this will cover the cost of repairing or replacing these
- Loss of rental income and alternative tenant accommodation: if you end up losing rent due to the fact your property has been made uninhabitable, More Than will protect you against these losses as well as the cost of providing suitable alternative accommodation for your tenant(s)
- Employers' liability (£10m): it is a legal requirement to take out employer's liability cover as soon as you hire an employee (note: there are some exceptions!). This cover protects you if you're sued by an employee for a work-related injury, illness or death that happened because of work
- Landlord home emergency cover (limit of £1000): in the event of a home emergency (e.g. a power cut) More Than will offer up to £1,000 to cover repair costs, labour and call-out fees. This applies to things such as water leaks (including boiler leaks), broken windows, internal power cuts and holes in the roof that has led to internal property damage. Note, this does not cover replacement of boilers.
- Enhanced Landlord liability of up to £5m: More Than offers the chance to upgrade their standard £2million landlord liability cover to £5million, giving you that added layer of protection
Missing features
There are some features that either aren’t offered in More Than's standard residential landlord cover or aren’t available to purchase as an add on. These features are worth knowing about as they do provide that added layer of protection if something were to happen and could save you a lot of money, so going without these could be risky.
- Landlord rent guarantee: unlike loss of rental income, landlord rent guarantee insurance will cover you if a tenant is unable to make rental payments regardless of whether your property is habitable or not (e.g. if the tenant has recently lost their job). More Than does not offer rent guarantee in their landlord insurance offer, so ensuring you have a stable source of income from your rental payments is incredibly important, so think carefully about whether you would be comfortable proceeding without this security.
Exclusions: what isn't included?
As with almost any type of insurance, landlord insurance often contains some exclusions that are good to be aware of so you don’t get caught out. More Than is no different, and we’ve outlined a few key ones we’ve found below. Note, the full list is much longer, so make sure to read up on the exclusions to avoid getting caught out.
- Any damage or events that you were aware of before the policy start date: a common exclusion that is often missed, so make sure you triple check when your cover officially starts!
- War and terrorism: If your property is damaged as a result of events associated with these (e.g. if, rather unfortunately, your property suffers damage from a nuclear attack) you will not be covered
- Any damage resulting from faulty design, materials or poor workmanship
- Any gradually occurring damage i.e. natural wear and tear or damage that would be expected as a result of aging
- Damage caused by frost, damp, dry-rot
- Damage occurring as a result of the property being used by occupants for illegal activities
How does More Than Landlord Insurance Compare to Competitors?
To better understand the value of More Than Landlord insurance you need to look at it in the context of other available options. We compared it to other plans in the market so you can see which may be more suitable for you.
More Than Landlord Insurance vs Alan Boswell Landlord Insurance
One of the most affordable insurers we sampled from, Alan Boswell certainly doesn’t lack in its cover. As standard, they cover many of the ‘essentials’ included buildings, contents, landlord liability, employer's liability as well as accidental damage and malicious damage by tenants!
That being said, for landlords looking for rent guarantee, legal expenses or landlord home emergency insurance—this will come at an extra cost. However, with excellent expert and customer ratings across the board and a low sample price to boot… it’s certainly worth considering.
Bottom Line: our research found Alan Boswell to offer excellent coverage at a fraction of the price, making it one of the best landlord insurance offers we have come across. For landlords looking for a value offer that is trusted by experts and customers alike, Alan Boswell may be the landlord insurance provider for you.
More Than Landlord Insurance vs LV= Landlord Insurance
One of the UK’s leading providers, LV= specializes in many different insurance areas. This multi-award winning provider receives glowing customer feedback so is certainly a firm favourite amongst experts and customers alike, and is arguably better kitted out with features.
Though some customers have noted higher renewal fees and lack of rewards for loyal customers, we found LV= to be one of the cheapest providers we sampled from so it might be worth taking a look. Even with its low price LV=’s coverage certainly packs a punch — its extensive cover includes £5m landlord liability, accidental damage, malicious damage by tenants as well as loss of rental income as standard.
Bottom Line: Don’t be fooled by the low premiums, LV= is certainly an option for price-savvy landlords looking for a value offer without compromising on cover.
More Than Landlord Insurance vs CIA Landlord Insurance
Specializing in non-standard property and tenant types, CIA works with a panel of leading insurers to ensure you get the right level of coverage. This means it is excellent for comparing cover and prices, however, this does also mean it can vary depending on the insurer who has underwritten your policy. At the lower end, our research found CIA to be one of the cheapest options on the market, but at the highest end we found it to be one of the most expensive, so it's certainly worth taking a look!
Nevertheless, CIA offer a high level of standard cover — typically this includes buildings, contents, accidental damage, loss of rental income and employer's liability. CIA also offers rent guarantee which provides an added layer of financial protection should you want it.
Bottom line: with excellent customer feedback, CIA could be perfect for landlords looking for comprehensive cover with the freedom to tailor their cover to suit their needs. CIA is also an excellent contender for landlords renting non-standard properties or to more risky tenants.
How to claim
You can find all the information you need to make a claim on More Than's website as well as in your policy documentation, but we’ve listed the key contact number below:
- More Than claims number: 0330 102 4098
Before you decide to make a claim, we recommend that you read your policy wording carefully to ensure that you are indeed covered. If you are, you may be asked to provide certain details and documentation such as your policy number, photographic evidence of your loss or damage, receipts and invoices so it’s always a good idea to have these handy, or be prepared to acquire these if necessary to avoid delay.
More Than Landlord Insurance: discounts and savings
More Than offers a discount for landlords who wish to take out insurance for multiple properties. We've noted these discount rates below for your reference:
- More Than will cover up to 5 properties in one policy — save up to 15% on each additional policy^
^Note this discount is valid at the time of writing, August 2021
If these discounts don't apply to you there are still many other simple ways you might be able to save some pennies. Luckily for you, we've compiled the ultimate guide full of tips on how to save money on your landlord insurance, and you can check this out here.