Insuring the landlords contents???

Manchee

So were moving into unfurnished rented property in about a week (fingers crossed!), we've just had a letter through from the agents (home2sell) confirming our appointment time to come in, read and sign the TA, and pay. However, this letter also states that "its is a requirement of the landlord that you will be taking out Tenant's insurance, which should include any accidental damage to the Landlord's contents". Firstly, why is it up to us to insure his contents? Surely this would be covered by his landlords insurance (if he hasn't got any that would say to me he cant be arsed to insure his own stuff, so then why should we??), and by our security deposit we are giving them. Secondly I didn't think you were able to insure other peoples stuff as we would have no insurable interest in anything he owns? I am aware that this 'requirement' is more than likely not from the landlord but actually from a letting agent with commission pound-signs in their eyes, but seriously.. !!!!!!? We can't insure other peoples property, and whats it go to do with them whether we insure our own?

I've come across this a couple of times in the past but not really had the time or the inclination to deal with it, but this time round I'm digging my heels in - just sick of being ripped off all the time! Doesn't say anything about showing them evidence of the insurance or when it is to be taken out so I'm pretty sure it wont be a problem and we'll be able to just talk our way round it.

chris_m

If you do have to provide evidence before they will start the tenancy, you could take out a policy online, show the agent the documents, then cancel it within the cooling-off period.

ACG

His landlords insurance could just be for the building.

If its unfurnished how can you insure something that is not there?

G_M

Has the agency also suggested an insurer? Or offered to arrange a policy? They get commission.

Unfortunately, if you refuse, you are likely simply to not be given the tenancy.

However, do as Chris suggests above. Onceyou have a signed tenancy agreement you can get a refundon the cancelled insurance policy and there will be nothing the landlord or agent can do.

sofaspud1234

We have insurance for the landlord fittings and carpets etc our place is unfurnished too. We were asked to get the insurance by the agent and when I questioned them I was told it was compulsory. They said if you accidentally damage any of the fittings your covered. I was quite happy to get the insurance.

Pixie5740

sofaspud1234 wrote: »

We have insurance for the landlord fittings and carpets etc our place is unfurnished too. We were asked to get the insurance by the agent and when I questioned them I was told it was compulsory. They said if you accidentally damage any of the fittings your covered. I was quite happy to get the insurance.

Did they also take a deposit from you? It's absolutely scandalous what Letting agencies are getting away with in England & Wales. In Scotland all they can ask for is the deposit and rent, none of these other fees, charges and insurances.

Callie22

My contents insurance covers fixtures and fittings - i.e. carpets, the basin etc. I specifically asked about this when I took out the policy as the letting agency were insisting that I had insurance that covers the landlord's property. The agency were adamant that only their policy (through Homelet, iirc) would have this but it's not true, I was originally insured with Barclays and then switched to Aviva, both of whom will cover fixtures and fittings if you're a tenant. Both of these have worked out significantly cheaper than the agent's recommended policy.

I have contents insurance as a matter of course but I do think this new insistence on it from agencies is pretty underhand - no doubt they get a nice kick-back from Homelet every time someone signs up.

Guest101

sofaspud1234 wrote: »

We have insurance for the landlord fittings and carpets etc our place is unfurnished too. We were asked to get the insurance by the agent and when I questioned them I was told it was compulsory. They said if you accidentally damage any of the fittings your covered. I was quite happy to get the insurance.

What's your deposit for then?

sandsni

Guest101 wrote: »

What's your deposit for then?

I'm guessing in the long run it could be cheaper to insure the LL's fittings and carpets along with your own contents and then claim in the event of accidental damage rather than to have the cost of repairing said damage deducted from the deposit.

antrobus

Manchee wrote: »

... However, this letter also states that "its is a requirement of the landlord that you will be taking out Tenant's insurance, which should include any accidental damage to the Landlord's contents". Firstly, why is it up to us to insure his contents? ....

In the same way as someone hiring a car might well be obliged to take out insurance to cover any accidental damage they might inflict on the car?

Manchee wrote: »

... Secondly I didn't think you were able to insure other peoples stuff as we would have no insurable interest in anything he owns?...

You wouldn't be insuring the "stuff", you'd be taking out insurance to cover your liability for damage to the stuff. That's an insurable interest; plenty of people take out insurance to cover liability for damaging other people's stuff. Like everybody who drives a car.

Guest101 wrote: »

What's your deposit for then?

Failure to pay the rent?

Homeagain

antrobus wrote: »

In the same way as someone hiring a car might well be obliged to take out insurance to cover any accidental damage they might inflict on the car?



You wouldn't be insuring the "stuff", you'd be taking out insurance to cover your liability for damage to the stuff. That's an insurable interest; plenty of people take out insurance to cover liability for damaging other people's stuff. Like everybody who drives a car.



Failure to pay the rent?

You are wrong, failure to pay the rent falls under a different category. Insuring the LL's goods does not fall part of the tenancy contract and cannot be enforced even if it is 'worded' in the agreement.