Need advice on insurance

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  • Need advice on insurance

    Hi there!

    I am a new landlord renting my property through a letting agent from 2nd of March. It's a leasehold property so already covered by buildings insurance I pay through a service charge. The letting agent will organise repairs as and when needed and bill me through the rent. The flat is unfurnished, but I am leaving the fridge/freezer, cooker and washer.

    I'm reading about Landlord insurance etc an seperate cover for the white goods and I'm just a bit confused at what I need! As mentioned above, I already have buildings cover, it's unfurnished so don't need contents.. Do I still need to get the insurance?
    Also, I was wondering whether to get cover for the white goods I'm leaving which will pay for repairs if needed.. But if the letting agent organises the repair and bills me, I can't go through the insurance can I as it's already been sorted through letting agent? I'm just unsure as to what I need and they haven't been much help.

    Many thanks in advance!

    Emma

  • #2
    If the white goods you are leaving break down and are not able at reasonable cost to be repaired then you will have to replace them. Fridges and freezers are low risk but washing machines slightly more problematic. Personally I would not supply white goods - unless in London where they are expected.

    I rent out some leaseholds and never buy contents insurance but I remind the tenants that they need to cover their own contents. You might want to ignore the contents insurance but think about getting 'rent guarantee insurance'.



    Freedom at the point of zero............

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    • #3
      As you say, there isn't much point in having breakdown insurance on your white goods, as it will be too difficult to get the agent to cooperate with it. (I just paid my agent £80 to repair my ten month old Siemens washer dryer. Grr.)

      Really you only need public liability cover. I always get this with a £5-10k landlord's contents policy from Directline which is usually under £100 per property.

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      • #4
        Wasn't appliance under at least 1 year warranty JKO?

        It is always worth checking out appliances that come with more than 1 year warranty for free. John Lewis's own line of goods often has this offer.



        Freedom at the point of zero............

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        • #5
          Yeah, that's my point. Although the appliance was under guarantee, it was impossible to get my agent to co-operate with the manufacturer's repairers. I did not fancy going and sitting in my tenant's flat for the whole day waiting for the repairer from the manufacturer, so I just smiled and paid the £80.

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          • #6
            Grrr indeed.



            Freedom at the point of zero............

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