Landlords Insurance. Do you name your mortgage provider on the insurance

lordoflands

I am looking to get landlords insurance for a property I have rented out recently.

Online comparison sites require me to enter mortgage details and referance number if the property is mortgaged.

My questions are:
1. Is it compulsary to enter your mortgage details and reference number when you get landlords insurance. (I dont have any issues with it but wondering if this is standard practice. My guess is that it is and the third-party with a claim in the property needs to be named on the insurance papers).

2. Do they actually call the banks that have provided mortgage for the property. (Again, just curious. My guess is they dont. They just need contact details on paper for when you actually make a claim).

Personally, I will enter my mortgage reference number, etc and get the insurance and give all the details required. Just wondering whether it is compulsary or not, since property has always been mortgaged but in the past we ourselves used to live there and getting home insurance didnt require any mortgage details. But then again its landlords insurance.

SuzieSue

With Simple Landlords insurance I don't believe you have to enter any mortgage details at all if you apply for it directly through them.

kingstreet

It's probably there for lenders who insist on cover being taken out jointly either them or with them as a party with an interest.

It's common in the broker market, but comparison sites have been slow to recognise this requirement of many lenders.

There have been a good few threads on the Insurance board asking where to put the lender's details when they are applying for insurance. The other issue is commencement date. Buyers are expected to arrange buildings cover in preparation for exchange but can't confirm when that might be, but comparison sites expect a commencement date at the point of application.