Landlord Insurance - Help!!

AmexReferrals

Hello,

I am a first time landlord and I'm in need of landlord insurance before my tenants move into my new flat next week. They are brothers who are studying at a nearby university but their parents will be paying their rent. They have a guarantor and have paid 6 months upfront too.

My question is, what do I realistically need covering by my insurance, and what is a good ballpark annual cost? Direct Line has quoted me £325 which is awfully dear when Churchill via Money Supermarket is £190. They both cover legal expenses, contents cover, liability cover, and rent arrears. Churchill doesn't have rent guarantee however. Should I fork out extra for this?

Any and all help, including advice on what to look for, is greatly appreciated. 

m0bov

Deposit protected? Gas safety and electrical checks done?

AmexReferrals

I am using a lettings agent - is the deposit not protected through them?

Yes, this is a new build (2020) so all checks have been completed.

Thrugelmir

AmexReferrals said:

My question is, what do I realistically need covering by my insurance

Students? Damage to the fabric of the building and the fixtures and fittings at the very least. 

silvercar

Alan Boswell and simply business are 2 I’ve used, both provide reasonable quotes and have helpful customer service. I don’t know about claim handling.

AmexReferrals

Thrugelmir said:

AmexReferrals said:

My question is, what do I realistically need covering by my insurance

Students? Damage to the fabric of the building and the fixtures and fittings at the very least. 

Thanks! Got both included. 

AmexReferrals

silvercar said:

Alan Boswell and simply business are 2 I’ve used, both provide reasonable quotes and have helpful customer service. I don’t know about claim handling.

Ah, thank you. I saw Alan Boswell but I hadn’t heard of them so I was worried. Simply Business is popping up everywhere so I’m keeping my eye on them too.