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Landlords Insurance
blondieisaband
Posts: 21 Forumite
Hi there
Thanks to fellow MSE'ers I've realised I need to sort out my house insurance. Until recently I was living in my own home with a lodger and the usual buildings and contents insurance. My work has now moved me away and another lodger rents my room. Up until last wekk I was very occassionally staying there too. Now that has changed and I need to sort everything out offically as I guess they are now tenants and not lodgers. Firstly I believe I need Landlords insurance of which I know nothing about - I got a quote from CIA insurance...which says
underwritten by AXA Insurance UK plc. The total premium including Insurance Premium Tax and our Administration Fee is £101.97 the excess is £100 apart from a £1000 Subsidence
This quote is based on the following details;
Buildings Sum Insured £65,000
Contents Sum Insured N/A
Built Less than 200 years ago
Standard Construction
Let to working tenants
No claims have been made in the last 3 years.
The policy includes, Accidental Damage Cover on buildings, £2million Property Owners Liability, 20% Loss of Rent Cover plus a 30 day Unoccupancy Clause.
does this look to cover everything it should? any recommendations or advice? Is it landlords insurance I need? The house is furnished with my stuff. Any advice or words of wisdom would be really appreciated. Thank you
Thanks to fellow MSE'ers I've realised I need to sort out my house insurance. Until recently I was living in my own home with a lodger and the usual buildings and contents insurance. My work has now moved me away and another lodger rents my room. Up until last wekk I was very occassionally staying there too. Now that has changed and I need to sort everything out offically as I guess they are now tenants and not lodgers. Firstly I believe I need Landlords insurance of which I know nothing about - I got a quote from CIA insurance...which says
underwritten by AXA Insurance UK plc. The total premium including Insurance Premium Tax and our Administration Fee is £101.97 the excess is £100 apart from a £1000 Subsidence
This quote is based on the following details;
Buildings Sum Insured £65,000
Contents Sum Insured N/A
Built Less than 200 years ago
Standard Construction
Let to working tenants
No claims have been made in the last 3 years.
The policy includes, Accidental Damage Cover on buildings, £2million Property Owners Liability, 20% Loss of Rent Cover plus a 30 day Unoccupancy Clause.
does this look to cover everything it should? any recommendations or advice? Is it landlords insurance I need? The house is furnished with my stuff. Any advice or words of wisdom would be really appreciated. Thank you
0
Comments
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Can anyone advise if this is appropriate insurance?0
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If you don't have permission from your mortgage lender to let the house, your insurance will be void if your tenants burn your house down.
You will also need a gas safety certificate and the deposits will have to go into one of the three deposit schemes.0 -
If you don't have permission from your mortgage lender to let the house, your insurance will be void if your tenants burn your house down.
????? Where do you get this idea from?
However Payday is right that you should get their permission as you will be in breach of your mortgage T & Cs.
Google 'landlords insurance' and compare quotes and extent of cover.
Check out Landlordzone for other obligations you have.0
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