Tenants Contents Insurance

Pott5y

I am about to move into a new rented unfurnished property and the letting company insists I need to have a contents insurance policy which includes for £2500 of accidental damage cover to the landlords fixtures, fittings and furnishings ie. carpets and fridge freezer, washing machine etc

I have been contacted and quoted quite very high rates by Homelet and other 'specialist' letting agents insurance companies.

Does anyone know of any of the mainstream Insurers who include this within their policies.

Thanks in advance

*Scarlett

Most policies allow you to add extended accidental damage cover up to the insured amount - the cost will vary according to your circumstances.

But if you don't own the carpets, freezer, w/m, etc my undertanding is that you don't have an insureable interest in them. The landlord should be covering these items as he owns them. Although it may be that landlord policies will not cover accidental damage so he wants you to cover it.

Many contents policies have a liabilty cover included so the landlord would be able to claim from your insurance if you caused damage.

I'm not an expert on this so might be wrong.

You don't need to use a specialist lettings insurer - just get a few quotes for contents cover for a tenant - many insurers quote for tenants to include accidental damage.

Duncombe

As above. You don't own the 'fixtures and fittings'; they belong to the landlord. It is not your job to replace them. The landlord will have his own insurance for these sorts of things. And if he doesnt, more fool him!

If you have lots of valuable items in your house (TV, laptop, desktop, xbox) then by all means get contents insurance.

Do you really think you are going to damage the fridge and washing machine to such an extent that you will need to claim on insurance for the repairs?

Just out of interest, is there is clause in your tennacy agreement that states you must have contents insurance for the landlords possessions?

Pott5y

I currently have a contents insurance policy that covers me for all of the points raised (except for the Landlords Contents accidental damage) for £160 per year.

It seems that most mainstream insurers will not/do not cover this and my letting agent is insisting that the cover is in place.

Homelet have quoted me in excess of £500.00 for a like for like quote with my current policy with the only difference being the Landlords accidental damage cover.

It just seems a lot of money to pay for £2500 worth of cover.

Duncombe

Pott5y wrote: »

I currently have a contents insurance policy that covers me for all of the points raised (except for the Landlords Contents accidental damage) for £160 per year.

It seems that most mainstream insurers will not/do not cover this and my letting agent is insisting that the cover is in place.

Homelet have quoted me in excess of £500.00 for a like for like quote with my current policy with the only difference being the Landlords accidental damage cover.

It just seems a lot of money to pay for £2500 worth of cover.

So the letting agent are insisting you get insurance incase you damage the washing machine?! IMO, thats ridiculous.

Does the landlord not have his own cover? The responsibility should not be pushed onto you.

*Scarlett

Mainstream insurer's will not cover something that you do not own.

Could you check the liabilty section on your current contents cover to see if it would cover you or ring your insurer to clarify?

It seems ridiculous to pay out over £340 extra to cover possible accidental damage to a freezer that you don't even own!

Pott5y

Apparently, Landlords cover (so I have been informed) does not cover for accidental damage by the tenant to things like carpets, washing machines or fridges etc. So yes they are insisting that I show them proof of this cover before they will hand me over the keys.

I have seen the OFT guidelines on this and it does not clarify the situation in this case (ie Tenants covering Landlords contents for accidental damage cover). The letting agents are not trying to sell me the insurance they are just insisting I get covered by someone.

In my opinion this is what the deposit was for, but I now think that as deposits have to be placed under a deposit protection scheme it is now not so easy for the landlords to just withold deposits for damage etc so now they are looking for insurance protection from the tenant.

huckster

There are a few threads on here about the same issue. I believe the landlord is not allowed to push their tenants into arranging such cover. There are regulations in force to prevent this, something to do with unfair terms. I think it was posted by Dacouch, awhile ago.

Most Contents Insurances will exclude cover for landlords possessions, even if there is a dodgy clause in your contract.

In regard to tenants liability cover, this relates to damage to the buildings, caused by standard perils, where the tenant can be held to be negligent. E.g. leaving a chip pan on and causing smoke damage.

huckster

See thread.

https://forums.moneysavingexpert.com/discussion/2692849

Heliflyguy

So lets say theres a water leak not down to the tenant and the fridge or washing machine or carpet gets damaged.
The landord gets a nice new fridge/washing machine/carpet you get increased premiums were ever you live and get to pay a hefty excess to boot.
Sounds great.

Pott5y

Heliflyguy wrote: »

So lets say theres a water leak not down to the tenant and the fridge or washing machine or carpet gets damaged.
The landord gets a nice new fridge/washing machine/carpet you get increased premiums were ever you live and get to pay a hefty excess to boot.
Sounds great.

Just to clarify I am only being asked to cover for accidental damage by me to the landlords contents. ie if I happen to spill something on the carpet that then means the carpet needs to be replaced or I accidently place a brick in the washing machine and cause irrepairable damage to it. I feel it is just to try and 'help' me protect my deposit and the things I would be liable for if damaged.

A water leak would not be classed as 'accidental damage by me' so would therefore be covered by the landlords own buildings and or contents insurance.