Keith and Linda Posted October 4, 2016 Share Posted October 4, 2016 Could I ask those that have property in the UK whom they use for Building insurance and Landlord insurance, also is a different insurance required for a holiday let rather than landlord insurance? Thanks in anticipation Link to comment Share on other sites More sharing options...
AJ Posted October 4, 2016 Share Posted October 4, 2016 We use Direct line for landlord insurance. I think it would be different insurance for a holiday Let as it can only be unoccupied for a certain number of days under landlord insurance Link to comment Share on other sites More sharing options...
Keith and Linda Posted October 4, 2016 Author Share Posted October 4, 2016 We use Direct line for landlord insurance. I think it would be different insurance for a holiday Let as it can only be unoccupied for a certain number of days under landlord insurance Thanks AJ initially it will be tenanted for 1 or 2 years, after that then we will be in it for up to 6 months at a time hence maybe some form of holiday let for the other 6 months. Do you have building insurance with anyone? Link to comment Share on other sites More sharing options...
AJ Posted October 4, 2016 Share Posted October 4, 2016 That is in your landlords insurance Link to comment Share on other sites More sharing options...
Keith and Linda Posted October 4, 2016 Author Share Posted October 4, 2016 That is in your landlords insurance I thought that would be more to damage as caused or due to the tenant and not other natural or otherwise causes, also as it is a terrace could there be a third party claim (owner or insurance company) for damage caused to those on either side? Maybe I am thinking too deep now, just trying to think like my wife does on these matters. Link to comment Share on other sites More sharing options...
ramot Posted October 4, 2016 Share Posted October 4, 2016 I thought that would be more to damage as caused or due to the tenant and not other natural or otherwise causes, also as it is a terrace could there be a third party claim (owner or insurance company) for damage caused to those on either side?Maybe I am thinking too deep now, just trying to think like my wife does on these matters. We just have building insurance on our UK properties, used to have Landlord insurance but not now. Have been renting out for over 15 years, with touch wood no problems ever. The tenant pays a deposit, either 4 weeks or 6 weeks rent depending where the property is, so would we hope cover any problem. Not returned until full written report at end of tenancy, then keep back an amount if a problem, eg. property not left clean enough, but all done through the agents. We rented out one property which originally we used infrequently when in UK, and then rented it out with the intention to use it in between tenants, but somehow that was never at the right time for us, and we found it hard to ask a good tenant to leave when we wanted to go back. We use very good agents, have 3 monthly inspections with a written report. We do know people who have had nightmare tenants, but we do rely on our agents who have thankfully never let us down. Link to comment Share on other sites More sharing options...
fifi21 Posted October 4, 2016 Share Posted October 4, 2016 I would certainly avoid agents for arranging the insurance. Overpaid on mine for several years. Handle insurance myself now and leave everything else to them (as they generally do a good job). I shop around each year and jump insurer if there is a better deal but haven't done so for a few years now as my current insurer seems pretty competitive and offers a good level of cover. Has anyone else noticed that there are less and less insurers able to cover us out in oz? I got fed up wasting time with quotes to be told I couldn't live abroad so I've started doing Google searches for "landlord insurance for expats" which seems to give a few good options. Maybe try that first? Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted October 4, 2016 Share Posted October 4, 2016 I would certainly avoid agents for arranging the insurance. Overpaid on mine for several years. Handle insurance myself now and leave everything else to them (as they generally do a good job). I shop around each year and jump insurer if there is a better deal but haven't done so for a few years now as my current insurer seems pretty competitive and offers a good level of cover. Has anyone else noticed that there are less and less insurers able to cover us out in oz? I got fed up wasting time with quotes to be told I couldn't live abroad so I've started doing Google searches for "landlord insurance for expats" which seems to give a few good options. Maybe try that first? Great tip, I wouldn't use brokers either. Here are a few who can help Keith https://www.directlineforbusiness.co.uk/landlord-insurance/overseas-landlord-insurance http://www.simplybusiness.co.uk Link to comment Share on other sites More sharing options...
srg73 Posted October 4, 2016 Share Posted October 4, 2016 You are venturing into specialist insurance. You will pay a lot for both domestic insurance (whilst you are there) and holiday let which is business insurance. Investigate but the insurance and tax maybe high enough to deter you from the holiday let idea. As both insurances are very different you likely will need a broker especially for the business insurance. You maybe better looking for long term lets ie 6 months as landlords insurance is much cheaper. S Link to comment Share on other sites More sharing options...
Keith and Linda Posted October 4, 2016 Author Share Posted October 4, 2016 Thanks for all your posted and pm replies guys, much appreciated. Just starting out on this journey but will keep this forum posted on how things progress. Again thanks to all. Link to comment Share on other sites More sharing options...
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