plym77 Posted May 11, 2007 Report Share Posted May 11, 2007 Hi all Having read various horror stories on the forum about problems at properties and possible tenant dangers, I have got to thinking about my insurance policies on my property. I have both building and contents (even though it is unfurnished, but I do have carpets, curtains, fitted furniture etc), however, should I be getting more comprehensive insurance in the event that something bad happens and my tenant is injured etc? My insurance policies are both with Norwich Union and I wondered whether i should be going to more specialised insurance companies to cover these sorts of issues? Any recommendations? To what extent can i be held responsible? I get the gas certs and always deal with any issues at the property in a timely manner etc, but I do not live there or even in the same town - what if there is a problem which leads to tenant injury etc? Any advice on this would be gratefully received! Regards Sherena Link to comment Share on other sites More sharing options...
landlordsdirect Posted May 11, 2007 Report Share Posted May 11, 2007 Hi Sherena, if you've got B2L buildings insurance it is likely to already cover you for tenant and public liabillity cover. NU is a leading company you will probally find a 2 or even 5 million cover in place. I would say drop the contents cover, and take it on the chin if you have to replace carpets and curtains now and then. the main beneifit as i see it for you is I expect would get internal water pipes covered for burst's etc. But each to thier own on this. Regards G Link to comment Share on other sites More sharing options...
landlordmortgages Posted May 11, 2007 Report Share Posted May 11, 2007 You could always try Landlords Insurance Link to comment Share on other sites More sharing options...
plym77 Posted May 11, 2007 Author Report Share Posted May 11, 2007 Many thanks for your responses. I didnt realise that the building insurance would cover public liability - I think I shall try and locate the policy documents and check to be on the safe side. I take your point about the contents insurance and have been mulling it over as to whether it is worth it for a while now. In all the years I have owned my own property and the buy to let I have not as yet had to claim on any policy (touch wood!!) so maybe it is time to reconsider... Thanks for the advice! Sherena Link to comment Share on other sites More sharing options...
Melboy Posted May 11, 2007 Report Share Posted May 11, 2007 Hi Sherena Try MMA INSURANCE Reading, Berkshire. www.mma-insurance.com I have been with them for a number of years now with no problems at all. I used to be with NU but stopped when their premiums went through he roof! Mel. Link to comment Share on other sites More sharing options...
plym77 Posted May 11, 2007 Author Report Share Posted May 11, 2007 they are pretty expensive actually. i only have a 2 bed flat at the buildings and contents come to just over £50 per month - thanks for the info Mel, will give them a go! Regards Sherena Link to comment Share on other sites More sharing options...
Trenners Posted May 11, 2007 Report Share Posted May 11, 2007 Hi Sherena, You could also try Sainsbury Home Bank or Halifax Insurance ... they are both really competitive - I am paying £63 PER YEAR (with Halifax) for unlimited buildings insurance on a 2 bed semi and I am paying £57.30 PER YEAR for unlimited buildings insurance with Sainsburys (although Sainsburys do not allow DSS tenants). Best Wishes, Mark Link to comment Share on other sites More sharing options...
tony_ mort Posted May 11, 2007 Report Share Posted May 11, 2007 All BTL policies that I am aware of cover public and employee liability. If you are worried about being sued by your tenants then undertake a fairly regular (documented) risk assessment, preferably with a third party. I would agree that your having contents insurance is not cost effective. I tell all my tenants that if someone wants to take my washer dryer in preference to their DVD player then not only are they welcome to it, but they will probably need the proceeds for medical bills. Try to persuade your tenants to take out their own contents and accidental damage insurance - this should cover your carpets for red wine stains, iron burns, and my favourite case - melted television set! Link to comment Share on other sites More sharing options...
landlordsdirect Posted May 13, 2007 Report Share Posted May 13, 2007 Hi Sherena, Sounds like you are really being fleeced at £50 pcm. Trenners Sainisbury's deal sound good. Hey Trenners, a contact number would be apprieciated! I have had a good run with Legal and General (also linked to the Halifax) try Dave Western via 0800 0279836 opt 2 extn 2366. As I am a customer of the Halifax (or one of it's many company divisions) they give me 12 months cover for the price of 9 months. Regards G Link to comment Share on other sites More sharing options...
brandall Posted June 2, 2007 Report Share Posted June 2, 2007 I noticed no one mentioned Malicious damage as part of the let property insurance. I would suggest this is essential. Regards BTLG www.benrandall.co.uk IFA Link to comment Share on other sites More sharing options...
Chris Knight Posted June 5, 2007 Report Share Posted June 5, 2007 Please note it is probably Property Owners Liability (POL)rather than Public Liability that is being discussed here. POL usually comes with the buildings insurance and Public Liability with the Contents. Anyway check on your Schedule and Policy Wording. Cover can be from £1m upto £5m. I always recommend Liability cover. We can offer a quotation that automatically includes POL (£2m), Malicious Damage & Theft by the Tenant (up to £5,000) and Accidental Damage as standard. Please see our website for a quote. www.leaseguard.net Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.