thurgoland Posted March 26, 2007 Report Share Posted March 26, 2007 Hi There, I am a new landlord and would like some advice on Contents Insurance. I have just purchased an Off-Plan Property (2 Bed apartment) . The buildings insurance is covered by the management company. Is there a requirement to take out any further buildings insurance or is the management companies insurance usually sufficient . Secoundly, if i am renting the property out unfurnished what standard of contents cover will i need .Can anybody give me contact details for reasonably priced insurance companies. Thanks Gary T Link to comment Share on other sites More sharing options...
andyask Posted March 26, 2007 Report Share Posted March 26, 2007 Hi I got £5000 worth of cover for about £75 for a 3-bed apartment from www.endsleigh.co.uk Andy Link to comment Share on other sites More sharing options...
thurgoland Posted March 27, 2007 Author Report Share Posted March 27, 2007 Hi There, I am a new landlord and would like some advice on Contents Insurance. I have just purchased an Off-Plan Property (2 Bed apartment) . The buildings insurance is covered by the management company. Is there a requirement to take out any further buildings insurance or is the management companies insurance usually sufficient . Secoundly, if i am renting the property out unfurnished what standard of contents cover will i need .Can anybody give me contact details for reasonably priced insurance companies. Thanks Gary T Thanks for that . I take it that you only take out contents insurance as the buildings is covered by your management company? Gary T Link to comment Share on other sites More sharing options...
kerbut Posted March 27, 2007 Report Share Posted March 27, 2007 If you are renting unfurnished,why should you want to pay a premium to insure their furniture ? Link to comment Share on other sites More sharing options...
GPEL Posted March 27, 2007 Report Share Posted March 27, 2007 You're not paying to insure their contents but your own. One tenant trashed all my carpets costing £850 but were covered by a £47 contents policy. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted March 27, 2007 Report Share Posted March 27, 2007 If tenant damages property then bond and "bill" followed by debt collection is surely the way to go - why would you want to make a claim on your own insurance for their damage - this will raise your future premiums because you have a claim ! On larger portfolio's this can have dramatic effects on premiums which i do not find acceptable ! for this reason i do not insure contents ! I give the tenant a very nice clean house with everthing in good working order - that is what i expect back at end of tenancy - If i dont get it then the tenant WILL pay to restore to proper condition! I know i mention Debt Collectors regularly - fact is i very rarely need to use them - as the stories i tell my tenants of people's nightmares with dc's along with the written threat of them taking over the case is enough to spurn most people into action! Try it ! you can still go to court later ! but usually I get all of my money and the tenant out almost immediately! Simon Link to comment Share on other sites More sharing options...
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