Grampa Posted October 31, 2015 Report Share Posted October 31, 2015 Having a handful of flats that I personally own and rent out I was wondering what it any, insurance cover other landlords out there take out. I don't mean rent protection type products.The building insurance is covered by the service charges and administrated by the block agents. Link to comment Share on other sites More sharing options...
Richlist Posted October 31, 2015 Report Share Posted October 31, 2015 I used to take contents insurance. Approx' £10K of cover used to cost £50/£60 per annum, per flat. I did this because I used to let mostly fully furnished property.Over the years I changed to mostly unfinished (I still provide white goods, carpets, curtains, light fittings & vac cleaner) & decided it wasn't worth the premium. I no longer bother with any form of contents insurance prefering to self insure.I don't take any other insurance on leasehold property other than RGI. Link to comment Share on other sites More sharing options...
bil8999 Posted October 31, 2015 Report Share Posted October 31, 2015 Just block insurance on the whole building, no contents insurance, rent protection.I know of one landlord who only takes out liability insurance, no buildings insurance, has done this for 30 some years and never had a claim!!!Has he just been very lucky or clever !!! Link to comment Share on other sites More sharing options...
Mortitia Posted October 31, 2015 Report Share Posted October 31, 2015 I own a couple of flats in blocks with share of freehold and the buildings insurance is covered by the yearly charges. I don't insure carpets, kitchen units etc. It is up to the tenant to insure their belongings. Link to comment Share on other sites More sharing options...
Grampa Posted November 1, 2015 Author Report Share Posted November 1, 2015 I am not overly concerned with the contents (carpets & curtains etc) It was more on the line of PI insurance.I know the block insurance has normally a certain element of PI but that would be for communal/common areas not for any issue that happens inside the flat.Also you may not be aware a tenant (on a AST) successfully claimed and won a substantial sum through the courts from a landlord (leaseholder) for a trip hazard in the common area when he had a fall. Don't know why it wasn't claimed via the block insurance. Link to comment Share on other sites More sharing options...
Richlist Posted November 1, 2015 Report Share Posted November 1, 2015 No, never had public liability insurance.In my mind, it's a risk so far down the list of things that could go wrong that it's not something I would insure. Link to comment Share on other sites More sharing options...
Mortitia Posted November 3, 2015 Report Share Posted November 3, 2015 Only one of mine has 'common areas' but I see no need for PL - just another excuse for more payments out - the block insurance does have quite a high PL cover I note. Do you know what the payout was Grampa?Do you have officers and directors insurance though? We started doing that a couple of years ago after a lessor tried to sell the roofspace and things got nasty. No claim was ever made in that case but one director was very upset. Link to comment Share on other sites More sharing options...
Grampa Posted November 3, 2015 Author Report Share Posted November 3, 2015 http://www.bailii.org/ew/cases/EWCA/Civ/2015/20.htmlSome bedside reading Mortitia Link to comment Share on other sites More sharing options...
bil8999 Posted November 4, 2015 Report Share Posted November 4, 2015 I always take out PL insurance Link to comment Share on other sites More sharing options...
Mortitia Posted November 4, 2015 Report Share Posted November 4, 2015 Thanks Grampa - the PL insurance that comes with the block would have covered that in my case but I will go and inspect the outside paving just in case! Link to comment Share on other sites More sharing options...
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