General (main property discussion here) - Insurance

I have several flats which are tenanted, my question relates to insurance.

buildings insurance the landlords responsibility and is incorporated in the service charge that I have to pay, my flats are unfurnished with regard to furniture etc but do contain carpets, washing, machine, fridge etc. The tenants have the responsibility for arranging contents insurance for the flat, should I have any other insurance policy in place? Should I also have a liability insurance should anyone try to make a claim against me for anything? Regards John

John,

For what it’s worth, and I’m no insurance broker, I always take out a minimal contents insurance to cover carpets, curtains and fixtures on my unfurnished properties. This is always with accidental cover, and I tell the company that’s it’s for a rental.

Liability insurance is compulsory as far as I am concerned. The ever increasing no-win-no-fee-lets-try-and-get-some-cash kind mentality means that the landlord is a potential goldmine to any would-be insurance-scam speculator. There is not a property on the planet that is tip-top-perfect. So even a slightly uneven floor, due to ageing floor boards under a carpet, causing a trip can cost you / your insurance: you decide. Of course, in the end it always costs you (in premiums), by how much is thus the main consideration…

This is just what I do: it would be interesting to get an insurance brokers professional take on this.

Regards, Malik

Thanks Malik,