Jump to content

What type of Landlord's insurance do you have?


Recommended Posts

Hi hubbers,

I'm looking for some advice on what features I would need in my policy when it comes to Landlord's insurance. I've seen the below mentioned on various websites and wanted to ask more experienced investors if your policies include all of the below? Some of the below? If the latter, which are the key ones?

 

  • Building insurance
  • Loss of rent insurance
  • Contents insurance
  • Accidental damage insurance
  • Landlord emergency cover
  • Landlord liability insurance
  • Rent guarantee insurance
  • Legal expenses insurance

 

Thanks,

Anthony

Anthony Gosling
WG Estates | Property Investor
www.wgestatesuk.com
07478572163

Link to post

Hi Anthony,

 

My wife and I have two properties that we rent out unfurnished.

 

You don't need to have a single policy to cover for things, you can shop around and get your cover tailored by using separate policies.

 

We use:

The NFU (National Farmers Union and no you don't have to be a farmer) for building insurance, liability, and general legal.

British Gas HomeCare (and gas safety certificate)

FCC Paragon (debt recovery and landlord legal expenses)

 

In addition we use agents to fully manage the properties.

 

We don't cover contents as that is down to the tenant as per the contract, nor do we insure for loss of rent.

 

Regards,

Robert.

Link to post
  • 2 weeks later...

Hi Anthony,

 

Another good thing to insure for is alternative accommodation cover in case your tenant can't live in the property after some catastrophic event. I've only ever had it happen once, in the hundreds of properties I've managed, but it's invaluable. The property was in Chelsea, SW3 and over Christmas there was a flood. Without a lot of hassle from our insurers they allowed us to get the tenant into a hotel across the road and it gave us time to properly dry the flat out and get it redecorated. The tenant ended up being in the hotel for 10 days. Everything was claimable and my client only paid the £350 excess and no rental income was lost.

 

As it was a block policy it didn't have too much of a knock on effect on the renewal (comparably to the cost of the flood).

 

This particular policy was looked after by Locktons insurance broker and I think was with Aviva.

 

Natasha 

 

 

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...