landlords insurance

keyboard · 22 July 2007 at 2:05PM

hiya there

At the momment i have regular buildings insurance, however im looking in to letting out my property

so it sounds to me like i need landlords insurance.......do i need to provide any documentation in order to get landlords insurance ?

when i got my regualar buildings insurance i just answered questions on the phone.

diesel9181 · 22 July 2007 at 2:16PM

i did it over the phone then got the forms sent to me to check. it was quite a bit more than the normal insurance but covered me if they decided to drive a bulldozer through the side of my house.

i never provided any documentation for the insurance but the local council usually requires that you register with them and are a "fit and proper person"

keyboard · 22 July 2007 at 2:22PM

Hi diesel19181

I didnt realise i would need to go to the council ? what would they ask me and what would i need to show them ?

diesel9181 · 22 July 2007 at 2:52PM

its maybe not the same for all councils but ours charge £55 for you to tell them you are a landlord!!!! it might be on your councils website, or it could be ours (in scotland) being really picky as usual! i think they just want to know you have no serious criminal record etc.

keyboard · 22 July 2007 at 3:12PM

ahhhh ok thanks for your comments. Will check it out

nelbo009 · 22 July 2007 at 10:40PM

The council thing depends on where you are. In some local authorities (and everywhere in Scotland, so far as I know), it's now a legal requirement to be accredited by the council before you can be a landlord.

Landlords' insurance does differ from normal buildings cover, because it's a higher risk than if you're actually living in the property. Prices aren't usually a lot steeper, unless you opt for accidental damage cover on the buildings - that costs a small fortune (no idea why). What you'll find is that the AD cover on landlords tends to only cover damage done by you, the property owner, and NOT the tenant, so unless you're planning on doing a lot of DIY, it tends not to be worth the extra premium.

Regards documentation - the company I work for don't request any, but it's one of these things that can differ depending on what provider you go to.

dunstonh · 22 July 2007 at 11:16PM

Buildings insurance for landlords is not a problem. Most providers offer it at no extra premium. You may find some internet based companies more prone to refusing it but thats due to them cherry picking.

diamond_dave · 23 July 2007 at 4:28PM

Hi I have just renewed my Property Owners Insurance with NIG through a local broker.This seem to be the best company, but beware, the prices ranged from £380 down to £160 odd for EXACTLY the same cover and company( 2x flats 1 let to tenants £230,000 rebuild in stone in Cornwall)I have found that the online companies are not as competative. But ask for property owners ins.

losgiganteskid · 24 July 2007 at 3:42PM

Halifax Insurance will cover your property whilst let to tenants - no extra charge

katskorner · 8 August 2007 at 7:35PM

I looked on the halifax t&cs and it said you have to live in your home for cover - if you let it out, you aren't complying with that. Please can you direct me to where it says they will insure lets for the same premium? Thanks.

dunstonh · 8 August 2007 at 8:18PM

Halifax insurance is distributed through a number of different distributers. The versions on offer may differ between the distribution channels. That is very often the case with IFAs/Brokers having a better product than the internet or branch version.