jaffabown Posted July 20, 2012 Report Share Posted July 20, 2012 Yes, I know, the topic seems odd, but let me explain.... My first B2L property is currently being decorated, ready to go on to the lettings market. Insurance is next on my tick list..... Now the property is in a small block, and the actual property is insured by the block owner, and I pay a lease charge towards that - so property is covered.... And the property is through my Ltd Company, so I have Personal and Public liability insurance already in place - tick... BUT..... the company insurance is for my Limited IT company - so I assume I will need tell my insurance Co that I am also renting out a property (through my company)??????? and its being let out unfurnished. In the property the only items of value are white goods (the usual fridgefreezer, washing machine etc), and carpets. And most contents do not cover damage or theft by tenants - thats what the deposit is for Hence my question - do I need extra landlord insuramce? Thanks in advance Jaffa Link to comment Share on other sites More sharing options...
Carryon Regardless Posted July 20, 2012 Report Share Posted July 20, 2012 I don't take out contents insurance. Insuring the bricks and mortar is a requirement of any mortgage and sensible anyway. Other risks I effectively self insure with the money I haven't paid out. Link to comment Share on other sites More sharing options...
landlord insurance Posted July 20, 2012 Report Share Posted July 20, 2012 It seems you have the "main" insurances covered! As with all insurance, you will only NEED it if you NEED to claim. If there is a flood/fire/etc then you stand to lose the contents within the property. A landlords contents only policy may only cost £50 a year for example but there may also be a £100 excess on a claim so taking this into account you should be able to decide whether it is worth taking out the cover or just taking a risk and lumping the costs if the worst happens (obvious depends on the total value of all your contents really). Link to comment Share on other sites More sharing options...
julles Posted August 14, 2012 Report Share Posted August 14, 2012 My landlord insurance will cover loss or rent /alternative accomodation if needed.. would you have that on the other insurances ? Link to comment Share on other sites More sharing options...
mondongo Posted August 19, 2012 Report Share Posted August 19, 2012 I have building insurance for my flats but have never bothered with contents ins. have had a few claims on building ins but that was for storm damage and when a washing machine flooded causing floor damage.I wouldn't bother,your call. suerte.M Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.