Landlord's Insurance

CB1979_2

Hi guys as you may know from reading my other threads that I'm completing on my flat tomorrow and got a couple of agents coming round tomorrow to look at renting it out.

but as i want to do this as legit as possible I want to get landlord's insurance.

But i have a few questions I want the insurance to:

1) cover me for non-payment (or will the letting agents cover this???)
2) cover me for any damages

but would you also suggest that i get buildings cover? My flat is leasehold and the building is insured and will be let out as unfurnished.

so what would you do in my position?

and any recommendations on decent companies, for south croydon flat.

clutton_2

talk to Alan Boswell 01603 218000 - best BTL insurance brokers around ! and no i am not on commission !

Tassotti

You can get rent guarantee from rentguard at a cost of £52 for 6 months cover. This covers loss of rent and legal expenses. The tenant must be fully credit checked/referenced. The letting agent will perform these checks, but get a copy for yourself.

Well worth the peace of mind for a bullseye in my opinion.

They also do landlord insurance, which is the cheapest I have come across, and cover you for public liability.

Regarding the damages, there are no policies that I have found that actually cover damage if caused by the tenant. If anyone knows of such a policy, please post the company here.

Your buildings insurance should be covered by the maintenance company that you pay service charges to, but double check this.

The tenant will be responsible for their own contents, and it is up to them if they get insured.

Regards

Tass

clutton_2

one of Boswells policies include damage, but with a £1000 excess - you could no doubt decrease that by increased premiums.- oops !

Tassotti

clutton wrote:

you could not doubt decrease that my increased premiums.

dcispv

I think that the Rentguard policy covers you for accidental damage done to your property. I'm not sure about intentional damage done by tenants but I personally wouldn't want to claim for that - I'ld go after the tenants!