Landlords Insurance??

MortgageMamma

I use rentguard for my buy to let clients, and I also recommend they take the rent and legal guarantee policy as well. Its about £50 for a 6 month lease. Covers your rental income and legal costs if you need to evict tennants. They also are the cheapest I have found to date, and will still insure the property up to 90 days unoccupancy providing the heatings kept on low in winter and the property is inspected regularly, you might also want to look into home emergency insurance which covers things like your boiler if it goes, lost keys, failed electrical mains etc. It's very useful, the one I recommend to my clients is between 10-23 a month per property and even pays for accomodation for the tennants should the property become uninhabitable. Read the T & C's with these policies carefully though as they are often marketed to make you believe that absolutely every eventuality is covered, which of course it is not!

UK_Landlord_2

as i said, landlord insurance direct sell rentguard insurance! only cheaper than buying direct, this is a money saving forum after all...

MortgageMamma

Get off your high horse UK landlord, I read what you said, but, you will note in my post, I am also offering additional information regarding rentguards policies and also the benefits of home emergency insurance.

Are you sure you don't work for landlord insurance direct because to me it seems the logical reason for attempting to undermine my post is to plug your own company?

UK_Landlord_2

sorry MM but i was in no way trying to undermine your post, didn't mean to offend, possibly my wording could have been better, just making the point it was not the cheapest way to go direct, as i was trying to point out it was a 'money saving tip'! i have about 10 of my own and 40+ of clients property insured with them, that is my connection.

MortgageMamma

Thats OK Uk Landlord I think I was a bit strong in my post on reflection. what I was trying to point out to you is that I wasn't saying I could find it any cheaper, I was just pointing out their other policies that are useful. I don't generally sell a lot of rentguard anyway, most of my clients are for residential or self cert remortgages. I normally use rentguard when clients have moved out of their properties to get them unoccupied buildings cover. Just out of interest who do you use for home emergency cover? I'm trying to find another company that have a better policy (and come to it better admin) than my the company I use currently (homecall+)

Somerset

Just thinking, I wish this thread were here when I had to insure. Never mind !!

timecharger

Is it really imperative to insure, then?

I don't have home insurance (I live in a block, which is insured by the freeholder), nor any insurance on my rental flats (again, block insured).

I find insurance to be a waste of time, imo.

Tassotti

The other benefit of having Landlords Insurance is the Personal Liability cover. This can be arranged separately. However, like yourself, I don't bother insuring the leasehold flats I own either, as the building insurance is covered by the service charge.

UK_Landlord_2

don't think your allowed to insure a building twice, so if it's insured by the freeholder you can't insure it, but contents cover does give you the landlord liability cover that is handy, waht with all the ambulance chasers out there!

i looked at aproperty recently which had been owned by a Housing assoc. and the service charge included the insurance and regular painting of the outside of the property!

I find insurance to be a waste of time, imo.

if you take a policy with a higher excess it cuts the cost and covers you for when the s**t really hits the fan, which is when you most need it!