Landlord's insurance query

no1gymbunny

I've got a ground floor flat which I'm hoping to let out. I have 2 problems:

1 It suffered from flooding in Summer 2007 (1 company has quoted me a £5K excess!!!!)

2 It'll be let fully furnished.

I'm really struggling to find a good deal. Does anyone have a recommendation for a good insurance company who would take this on without costing the earth?

dacouch

How come the freeholder / landlord is not covering the entire property?

Did you claim for the flood yourself, if so how much did you claim?

Are you in Scotland?

no1gymbunny

I probably didn't explain that very clearly. I pay a monthly fee to the management company who look after the block buildings insurance. As the flat is furnished, I am responsible for the contents. However, I've not provided a TV and the tenant may bring in other expensive electrical equipment which I assume I will have insured on my policy.

I claimed on the contents insurance myself, the block policy was looked after by the management company. (my contents claim was for about £4K, the building claim for my flat was about £20K).

The property is in England.

FlameCloud

You will only be able to take out a policy that covers your own possessions, not that of the tenant.

no1gymbunny

How does that work exactly? Excuse me for being daft! Is it allowed to have 2 separate contents policies on the same property at the same time?

dacouch

If you and the property have a flood claim against you then you will struggle getting cover at a reasonable cost with a reasonable excess as you have no doubt found. The normal practice is to stay with the Insurer who paid out the claim