Protfolio Landlord Insurance

[MorProp]

Hi all,

Can anyone recommend an insurance provide or broker for freehold BTLs?

also, from your experience, what should be covered and what to look out for?

how do you deal with emergencies?

thanks!

[loanarranger]

The list of Insurers able to provide quality insurance for BTL is too numerous to detail but if you look at all of the very well known companies and go online you can do independent research alternative there are the price comparison sights which scrape the quotes but once your data is detailed you might get blitzed in followups.

I use Direct Line and Aviva.

How does one deal with emergencies , well if the properties are managed by an agent it is their responsibility to sort the matter out but checking with you if the costs are above a certain threshold. I personally use British Gas Home Care which allows for the tenant to have direct access for Gas, electricity and plumbing issues, any calls which are adjudged to be frivolous then I impose a penalty of £50, it is amazing how tenants think twice before making a call but where help is needed there is the guarantee of being dealt with expeditiously.

I am sure many Forum Contributors will have their own views.

[jpkeates]

I use simple landlord's insurance, which seems to now be part of Swinton.
They have a reasonable portfolio product - although they've just been taken over, so my experience may no longer be relevant.

any calls which are adjudged to be frivolous then I impose a penalty of £50, it is amazing how tenants think twice before making a call but where help is needed there is the guarantee of being dealt with expeditiously.

While I'm sure it's just a matter of loose wording, but penalty charges in consumer contracts aren't lawful, generally, and a "frivolity" charge of £50 (unless it reflects an actual cost incurred by the landlord) would be specifically illegal under the Tenant Fees Act.

[MorProp]

loanarranger,

You have insurance and then BT home care on top? Sorry if this is a daft question but what are the differences?

[jpucng62]

Any commercial broker will be able to give you LL insurance. This will insured the fabric of the building & fixtures and fittings (think sinks, kitchen cupboards etc) in case of a major event.. It will usually have some contents cover for your furnishing - carpets, curtains, light shades and furniture if your provide it. You can also choose whether or not to include accidental damage to either part. I would also ask for legal cover.

The BT homecare or similar will insure your boiler and other appliances and possibly drains (depends on the cover) against breakdowns.

[loanarranger]

Hi jpucng62
I think you meant BG ( British Gas ) I have this for all my properties and has been a great facility plus peace of mind for tenants , but bad news for the managing agents as there is no kickback from plumbers Etc

[SouthernDave]

I use John Lawton, Cascade Insurance

[L4NDLORD]

One should check that cover includes terrorism! Would provide cover in the event your tenants used the rented property (or one nearby) to make a bomb that exploded. Also access and trace. And non invalidation cover. And three years loss of rent. Very few policies include CBRN but the very best do. Half the brokers out there wouldnt even know what are the risks known as CBRN . So far as I am aware only Zurich include this as standard.

[Steve Barnes]

I always recommend that you should have a check list of the covers that are important to you and make sure that these covers are included within the quotations that you receive. That way you can compare the premiums easier and make sure it meets your needs, for example, as the property is being rented out, does it include Malicious Damage cover by the tenants (A lot of policies include malicious damage and then exclude cover in relation to tenants) theft by the tenants, unfortunately I have seen properties that have had the central heating / boiler stolen and the resultant water damage that this can create. Hamilton Fraser Total Landlords Insurance have two policies, a Premier policy that covers the points above and an Essential policy covers your standard perils. https://hamiltonfraser.co.uk/landlord-insurance/