Landlord insurance - no malicious damage cover due to guarantor

kirksteruk

Hi all,
Would appreciate some help on this. I am covered for accidental damage in my landlord insurance with L&G, but they told me as my tenant failed her credit check and is using a guarantor they would not do so for malicious damage? Is this the norm?

Are there any insurers who can help me get this cover quickly if she is using a guarantor? I don't want her to set fire to my property and I'm not insured!

Thanks, :mad:
Kirk

ACG

Have you spoken to an insurance broker?
I only use one company for landlords insurance and they do not cover malicious damage by a tenant either.

If you have legal cover included however, you could use that to go after tenant/guarantor for costs but I suppose that would delay any potential payout.

kirksteruk

I have not spoken to a broker yet, the issue is we are ex-pats in Amsterdam so it is hard to get support quickly. I will ask a family member.

Do you think there are insurers who can cover me in this situation? I don't mind paying the extra buck but I definitely want the peace of mind that I have it.

ACG

No idea to be honest, I dont really sell a lot of landlords insurance (which is why I reduced down to 1 provider).

If your really concerned you could take 2 months deposit? That would not cover all of the costs but who in their right mind is going to risk losing 2 months rent just by being a tool.

G_M

ACG wrote: »

If your really concerned you could take 2 months deposit? That would not cover all of the costs but who in their right mind is going to risk losing 2 months rent just by being a tool.

A tool who also owes 2 months in rent arrears?

I would do 2 things:

* contact a broker. If you are abroad you should be able to do this online

* search in the normal way via compaison sites, then check the small print of each provider. Malicious damage is included by some, not by others. Some may exclude tenants on benefits, or with guarantors etc. The policy will tell you.

[Deleted User]

And yes, actually read the policy for the terms you are looking for. Don't rely on what some bod on the phone who wants his commission tells you.

I did that with some insurance, couldn't understand the policy and only when I needed the insurance did I discover it wouldn't cover what I needed, although I had been told it would. The policy was a total nightmare to understand (first time ever I've found I didn't understand a policy).