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rs1969
01-12-2007, 17:46 PM
I am a new landlord and will be renting out my property in the UK and living abroad. My query was regarding taking out landlord insurance on the property. Who will be holding the policy documents? the tenants or myself? When it comes to renewal after a year, can I take out insurance with some other provider or do I have to continue with the same one?
I am planning to let through an agency, but needed some clarification on the above as sometimes it is cheaper to get a new quote. Thanks.

Colincbayley
01-12-2007, 17:54 PM
I am a new landlord and will be renting out my property in the UK and living abroad. My query was regarding taking out landlord insurance on the property. Who will be holding the policy documents? the tenants or myself? When it comes to renewal after a year, can I take out insurance with some other provider or do I have to continue with the same one?
I am planning to let through an agency, but needed some clarification on the above as sometimes it is cheaper to get a new quote. Thanks.

I presume you are talking about buildings/contents Insurance?
You will need a policy that covers let property.

You will hold the documents ( it's your policy ) it is also a good idea to give a copy to your agent with a signed letter of authority so that they can deal with any claims form you whilst you are out of the UK.

You are free to choose any provider you like at anytime.

The cheapest is not always the best, check that the level of cover you are buying fully meets your needs.

rs1969
01-12-2007, 19:25 PM
I presume you are talking about buildings/contents Insurance?
You will need a policy that covers let property.

You will hold the documents ( it's your policy ) it is also a good idea to give a copy to your agent with a signed letter of authority so that they can deal with any claims form you whilst you are out of the UK.

You are free to choose any provider you like at anytime.

The cheapest is not always the best, check that the level of cover you are buying fully meets your needs.

I was talking about buildings and contents. Thanks for your quick reply :) Are there any providers that you or others on the forum would recommend?
Currently my buildings is with Prudential and contents with Barclays, so presumably I will need to cancel these if I am going to let the property?

Colincbayley
01-12-2007, 19:49 PM
Currently my buildings is with Prudential and contents with Barclays, so presumably I will need to cancel these if I am going to let the property?

The chances are that your residential buildings and contents policy won't be any good, speak to your current providers to check.

I would say join the LL's association at www.landlords.org.uk
They have arrangements with Hamilton Fraiser Insurance offering a policy with first rate cover at the cheapest rates I could find, underwritten by AXA Insurance.

As with any Insurance, do make sure that the level of cover you are buying fits your needs.

ashburnham
11-12-2007, 11:38 AM
Not all landlords insurers can deal with people living overseas. We ourselves cater for this no problem at all with no additional fees.

As for cancelling your existing policies - I assume these are normal household policies in which case they are pretty worthless if the property is being let out :eek: . If this is the case I would suggest putting a landlords insurance in place as soon as possible and then cancelling these household policies.