Landlord insurance for leasehold property

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Landlord insurance for leasehold property

    The block is already insured by the management company but it seems like we need landlords insurance but only to cover public liability (if the tenant gets injured at the property and decides to claim) and also the ability to rehouse the tenant if the block suffered any damage and became inhabitable.

    Any ideas on where to get just this type of insurance? I have spoken with Direct line but they want to throw in all the extras which we don't need

    Thanks

    #2
    If the MC has insured the building under a "block of flats insurance policy, , the policy should include cover for re-statement of building, public liability , employee liability, damage from water leakage and "alternative accommodation for 2 years" .( which helps to pay the mortgage lender which still requires the monthly payments.).
    I am not so sure if re-housing the tenant is considered a insurable interest for the flat owner.

    Comment


      #3
      I have contents insurance from Directline for my leaseholds. This covers loss of rent, public/landlord liability and a few bits of furniture. Costs about £100 per year per flat.

      Comment


        #4
        thanks for the replies

        Comment


          #5
          I have insurance with The Residential Landlords Association.

          Comment

          Latest Activity

          Collapse

          • Rent Guarantee Insurance
            by oi2004as
            Hi

            I would be interested in your view on the following

            I received a renewal Legal & Rent Guarantee Insurance documents from Rentguard (which initiallyy I purchased through Openrent)

            There is the following condition in their 'statement of fact':
            "The...
            11-07-2020, 11:59 AM
          • Reply to Rent Guarantee Insurance
            by tatemono
            that's the rent guarantee insurance we use and which has worked for us for many years....
            13-07-2020, 20:58 PM
          • Reply to Rent Guarantee Insurance
            by AndrewDod
            No 7.1 will not likely stand up in court. You cannot have open ended guarantor deeds that apply in this way robustly.

            The fact that you have said that it will apply also to unknown rental increases, for an unknown term, and covers unknown costs means that it is likely invalid
            ...
            13-07-2020, 19:39 PM
          • Reply to Rent Guarantee Insurance
            by oi2004as
            To jpkeates
            This is not about zero-risk option. The part which I do not like the most is that I become tenant-dependant for buying insurance.
            They may not reply to my email about their circumstances
            They may not provide correct information
            They may not allow to run re-referencing...
            13-07-2020, 19:14 PM
          • Reply to Rent Guarantee Insurance
            by theartfullodger
            HOW was the guarantee documented please? Enacted as a deed? Guarantor credit checked, given AST & guarantee and advised to take legal advice prior to signing, please?...
            13-07-2020, 19:06 PM
          • Reply to Rent Guarantee Insurance
            by oi2004as
            To AndrewDod
            I have a guarantor on this Tenancy Agreement.
            This is 12-month fixed and then becoming rolling (monthly) contactual agreement.
            The guarantor is a party to the agreement (signed)
            The agreement has the following clauses:
            7.1 In consideration of the Landlord agreeing...
            13-07-2020, 19:00 PM
          • Reply to Rent Guarantee Insurance
            by jpkeates
            I think you're looking for a zero-risk option, but property letting is an investment business with risk baked in.
            I don't blame you! But I think you're going to struggle.

            Like all of us, the rent guarantee insurance sellers didn't see the pandemic coming, and it wasn't covered in...
            13-07-2020, 16:25 PM
          • Reply to Rent Guarantee Insurance
            by AndrewDod
            If a guarantor agreement is valid at all (which is a BIG if) it is not going to be valid past the initial fixed term (no matter what it says) - so as much use as non-stick Sellotape or Jeremy Corbyn....
            13-07-2020, 16:08 PM
          • Reply to Rent Guarantee Insurance
            by Boab
            I doubt anyone in this town has ten years rent. I’m obviously being Uber selective on tenants , but I also wondered about guarantors as well. Does a guarantor have the absolute obligation to cover rent defaults or can they avoid paying as well?...
            13-07-2020, 15:47 PM
          • Buildings & Contents Insurance - Recommendations
            by landlord-man
            Can anyone recommend a broker / insurance provider? I have a 1st floor property with 4 flats.

            I'm looking for recommendations on who provided a fair quote but also any recommendations on companies who actually paid out a claim promptly / fairly.

            Thank You...
            13-07-2020, 10:57 AM
          Working...
          X