Tenant Liability Insurance

amy104

On my previous rentals we've always had contents and accidental damage cover with my Husband as the policy holder but cover for him and immediate family.

We are moving and the new LA require proof of cover up to £2,500 for accidental damage to landlords fixtures and fittings for each individual on the tenancy.

Does this mean our existing policy is not good enough (obviously we'd get the address changed). If not can I just get them to add me as a joint policy holder? will this cost more?

They've given us 2 quotes from their insurance people in each of our names. Do we need to pay twice, for a policy for each of us?

rpc

amy104 wrote: »

On my previous rentals we've always had contents and accidental damage cover with my Husband as the policy holder but cover for him and immediate family.

We are moving and the new LA require proof of cover up to £2,500 for accidental damage to landlords fixtures and fittings for each individual on the tenancy.

If the cover specifies husband and immediate family, and they are the only people on the tenancy, then what's the problem? Sounds like you are sorted.

They've given us 2 quotes from their insurance people in each of our names. Do we need to pay twice, for a policy for each of us?

And the real motive emerges - they want to flog you expensive insurance that they will get commission for.

You should be OK. Ultimately, even if you are 100% in the right, they don't have to let to you if you won't jump through their hoops and pay their $$$.

If they won't accept your insurance, you can always take out theirs, sign the tenancy and then cancel the insurance during the cooling off period.

amy104

Thank you.

theartfullodger

It's a con: ANy Landlord that does not have sensible insurance cover for his buildings & contents should be locked up.

Sign up for some cover on the Internet. Present theiving grasping blood-sucking agency with those details. Sign tenancy. Cancel policies.

If you want cover for your own stuff fine, get a policy for that.

If you sign an insurance policy in the agent's office you probably have no rights of cancellation/"cooling off" period.

Want to know your rights on canceling on't t'Internet?? Look up "distance selling regulations"

Cheers!

DannyboyMidlands

I agree entirely with the above. Even if you want to take out insurance, do not use the company attached to the LA. That is just a money making scheme for them.

Get something yourselves which satisfies them and then cancel.

OR

Tell them to shove it and find somewhere else to rent. I'd do the latter. I mean, jeez, the landlord really wants to have his cake and eat it, where does it end? Soon they'll be requiring the tenants to pay for routine maintenance.

theartfullodger

It is (just) possible the Landlord knows nothing about the agent's money making scam.....

Sigh! If only agents would do what they ought to & not simply think about ways of conning fees from tenants (and Landlord's btw..). And the Labour government was going to bring in regulation of agents but these conservatives decided not to bother... So anyone (no, really, anyone) can set up as an agent within an hour:
- No qualifications
- No training
- No regulation
- No criminal records check..
- No brain...
- No financial baking
- No insurance against failure of the company or errors by the staff (arrrggghhhh....)

yumyums

We were told to get tenant's liability insurance as part of our tenancy agreement. Was given an extortionate quote for contents cover with tenants liability by a company attached to the LA.

Found myself an alternative quote with one of the comparison sites which was over £100 cheaper and offered a much better sum assured for contents as well as for personal possessions outside the home & bicycle cover etc.

Sent the LA the policy documents and they were satisfied with them. After this, the company attached to the LA tried to convince me that the policy I had taken out wasn't sufficient and that the LA wouldn't accept it! Told them they already had and to leave me alone. Scam artists!

bmusty

Hi,

I am getting a property with Ocean Lettings and don't want to pay for this scam.

How did you find an alternative quote? I can only find tenants insurance, rather than the tenant liability insurance which it seems only exists for this letting agent...

BitterAndTwisted

You don't need an alternative quote, Just buy the insurance on-line, print out the confirmation documentation and any other gubbins and wave it at the shyster conning agent. Then, cancel the policy within the cooling-off period and get your refund.

RESULT!


Eff me! This policy only exists for that agent? Do you really want to let through them? You do realise that this bodes ill for probably every moment of your tenancy? Count your fingers after you've been to their office. Are they the only agent in the town you are looking to rent?

G_M

You don't need it. It's a con with the agent getting a commission.

You are giving the landlord a deposit? Why? It's in case you damage his property! And if you cause more damage than the deposit, he can sue you. So it's up to you whether you want this insurance or not, none of the LL's business.

If he absolutley insists, read the cancelation terms carefully on the policy. Often there's a cooling off period, so sign up, get the tenancy agreement signed, then cancel the policy for a full refund. But make sure you an cancel.

Oh, and obviously, don't tell the LL/agent you're going to cancel!

bmusty

Thanks for the replies.

Unfortunately Ocean Lettings are letting the property I want to rent... In future I would probably avoid any viewings with them in the first instance.

Letsure is the company who do the referencing, and there is a term in Ocean Lettings deposit declaration saying you must have tenant liability insurance covering a minimum of £2500. They also provide a leaflet saying how to get this insurance for £60 from Letsure.

I can only assume Ocean Lettings owns Letsure or that they get a commission.

As I cannot find another insurance provider who provides only tenant liability insurance (rather than it as part of tenants contents insurance which is more expensive), I think I will go for the option of cancelling in the cooling off period after signing the contract.

Thanks again.