Landlord Insurance Rejections

[diane]

Hi all, 
I get my 1st BTL on tue (but no tenants as of yet obvs but hoping to get a letting agency onboard FM) but I keep being rejected by the insurance companies for LANDLORD INSURANCE!! Is this because the house won’t have any tenants/tenancy agreement in place for about a month (hopefully)??

Everything else has been plain sailing.

Very frustrating, wanted to get all legal stuff sorted beforehand or am I being to ambitious?

cheers

Diane
 

[Julia Urquhart]

You absolutely need insurance in place for Tuesday in case you house burns down for example. If you have a mortgage it will also be part of your mortgage conditions.

Try getting empty property insurance and then convert to LL iinsurance once you have tenants in place. A commercial broker should be able to sort this for you and will often waive any early cancellation charges of the original policy if you then take out a new one.

Good luck

[ashburnham]

Landlord Insurance for properties that are initially unoccupied before being let to tenants should not be a problem. This is so common and something we encounter daily. Starts based on it being empty and then when a tenant found you simply inform the insurer/broker and it changes over to an occupied property.

A landlord insurance policy should be set up to deal with the gaps in tenancies like this without issue. Probably not something easily obtained by online quote forms so I would recommend speaking to a good landlord insurance broker and I'm sure you'll be able to get the cover you need.