Landlord/vacant property insurance

LEP

I will be renting out my current property in a couple of months and am looking to get insurance in place.

Obviously I’ll need landlords insurance but until I get tenants I’ll need vacant property insurance.

Does anyone know any companies that will give me vacant property insurance and then allow me to switch to landlords insurance as soon as I get tenants in?

Thanks

G_M

Most LL policies cover vacant periods, though the length of vacancy will vary so compare policies carefully.

There are usually conditions (eg visit once a week, leave heating on, drain down water etc) so check those too.

LEP

G_M wrote: »

Most LL policies cover vacant periods, though the length of vacancy will vary so compare policies carefully.

There are usually conditions (eg visit once a week, leave heating on, drain down water etc) so check those too.

I did consider this but my worry is that I do not get tenants in before the vacant period they'd offer was up and then I've got an invalid policy.

Werdnal

Are you advertising the property yet? Remember that tenants who are already renting somewhere, will need to give 1 months notice to leave their current property, so if you are planning to have your available in a couple months, start advertising it 4-6 weeks beforehand, and you will minimise the void.

If you price the rent correctly and present the property well, I wouldn't have thought it would take too long to let it, as in most areas the rental market is pretty strong at the moment.

I take it you are already up to speed with all the other requirements of letting:

http://forums.moneysavingexpert.com/showpost.php?p=41160642&postcount=12

So you don't have any nasty surprises or last minute delays!

LEP

Werdnal wrote: »

Are you advertising the property yet? Remember that tenants who are already renting somewhere, will need to give 1 months notice to leave their current property, so if you are planning to have your available in a couple months, start advertising it 4-6 weeks beforehand, and you will minimise the void.

If you price the rent correctly and present the property well, I wouldn't have thought it would take too long to let it, as in most areas the rental market is pretty strong at the moment.

I take it you are already up to speed with all the other requirements of letting:


So you don't have any nasty surprises or last minute delays!

Yes I have had a read of that thanks, I know what I am letting myself in for.

I don't want to advertise for tenants until I exchange contracts on the new house I am buying just in case this falls through.

I guess if I market it at a realistic price it'll go fairly soon.

Also just seen that Towergate offer 3 months vacant property insurance so might get that and then switch to landlords once I get tenants in.