Questions for correct insurance for lease hold flat.

  • Filter
  • Time
  • Show
Clear All
new posts

    Questions for correct insurance for lease hold flat.

    Hi, my Wife and I just competed on a 1 bedroom flat last week (our first lease hold property)and after doing a compare the market search which uses simply business I googled some reviews and found Alan BOSWEl. They are very helpful and not pushy at all. I took out policy a landlord policy with CoVea covering contents, fixtures and fittings to £20000 and owners Liabity etc.

    The thing I still find confusing is the lease stipulates the building covers structure of flat and outside of doors etc as buildings so I'm assuming does not cover bathroom or kitchen. However the buildings insurance for the block of moden flats (around 60 apartments) states cover for buildings cover and then £25000 for land lords contents ;communal areas only). Also the buildings insurance shows property owner liability to £25 million but I believe this would cover the freeholder and not us.

    I understand that the communal contents cover is just for communal areas so nothing to do with the our flat but under the policy termanology of 'buildings' in the Zurich policy it says landlord fixtures and fittings are covered. It's all very confusing.

    so I'm not sure if I'm double covered or if there was a catastrophic fire or flood would the buildings policy cover most of it or would the terms of the lease override the buildings insurance and thus my £20000 would have to pay for bathroom, kitchen, floor, heaters, plastering, drying out, etc. Which leaves me wondering if £20000 would leave me underinsured?

    Thanks for your help.


    Are you sure you are not confusing the repair liability in the lease with the insurance liability. It would be normal for the building insurance to have to cover the whole structure, not just the non-demised parts, but you could have a strange lease.


      I expect that's what it is. I thought it was strange as it just a flat in a large apartment block.

      Thanks for the reply.


      Latest Activity


      • Rent Guarantee Insurance
        by oi2004as

        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':
        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
      • Reply to Buildings & Contents Insurance - Recommendations
        by ashburnham
        Take a look at the LandlordZONE Insurance Directory for a list of providers.
        13-07-2020, 13:58 PM