Tenants Contents Insurance

huckster

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.

The landlord claims off their own policy for items they own.

It is nothing to do with the tenant, apart from the situation being a pain in the *!!!.

Heliflyguy

Thanks for the clarification.
Ok then aside from the white goods that would be pretty hard to accidently damage lets take the carpet.
If you did damage a carpet then you as a tenant would have to pay to get it sorted from your deposit when you finished the tenancy.
The amount that would be deducted from your deposit would take into account the age and wear of the carpet so the landord would have to stump up something to get it replaced, they could not as far as I am aware make you pay for all of a brand new carpet, this would be known as betterment and not allowed I believe.
This insurance would be getting around that, the landlord would end up with a brand new carpet and although you may have protected your deposit you may well have paid out more than you would in premiums and excess than have if the DPS had come up with a cost based on the above.
Then again I might be completly off track with this.

huckster

The deposit would be at stake for a damaged carpet. Most landlords would not touch Insurance for a carpet, as it is a wear and tear item, which is expected to be damaged. If they claimed on Insurance, taking into account the excess, plus lost deposit from the tenant, it would not be worth claiming. It would have to be a bl**dy expensive carpet for them to bother and how many people would let a house with a Wilton carpet.

Heliflyguy

huckster wrote: »

how many people would let a house with a Wilton carpet.

Dont know but I do know of someone who let a property with a £1500 coffee table

MissMoneypenny

Don't forget to take the optional extra of Legal Liabilty on your contents insurance. And make sure that it does not exclude legal action against a landlord or defending a claim against a landlord.

FlameCloud

*Scarlett wrote: »

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.

Insurable interest is not just created through the ownership of an item, it can be created through a contract.

Although the landlord cannot force you to have contents insurance as others have said, most policies- Tescos, DL, etc will cover landlords possessions if you are legally liabile for them under AD- the description of contents will normally be xxx.... that you legally own or are responsible for. If the contract holds you responsible for them the policy will cover them.

FlameCloud

huckster wrote: »

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

I'd love to see one that does.

huckster

FlameCloud wrote: »

I'd love to see one that does.

See DL page 17 definition of Contents- Excludes landlords fittings and fixtures.

http://www.directline.com/home/hm_plus_doc_0510.pdf

See Page 54 of the Tesco policy wording. Same exclusion applies.

http://www.tescofinance.com/personal/finance/insurance/homeins/pdf/tesco-finest-home-insurance-policy-document.pdf

Pott5y

Thanks for the constant steam of advice and help. I am taking it all on board and my Insurance Broker is also looking into it and trying to find an alternative.

:T:T:T:T:T:T

Duncombe

I would go back to your agent and ask exactly what you have paid a deposit for, given that they are demanding you purchase contents insurance for items that do not belong to you.

I would be very careful about proceeding with this tennacy based on their behaviour so far. They may give you lots of grief in the future.