Tenants Liability Cover
Discussion
SO Tenants Liability Cover
feels like a con to me
scenario
person agrees to rent a house, goes through all the appropriate checks and balances, get's accepted.
Then an email arrives stating the amount to be paid upfront (deposit and first month rent)
The documents needed to bring with for ID
and - proof of your tenants liability cover - that is NOT the same as contents insurance and is an additional insurance (con) - and you can't sign for the house without it.
How about f
k off?
Which has been my advice thus far to the situation.
If the landlord is worried that damage done won't be covered by the deposit, then one would suggest they take out and pay for the extra insurance themselves.
I currently rent a few houses and wouldn't dream of asking for this insurance.
Is this a new thing?
feels like a con to me
scenario
person agrees to rent a house, goes through all the appropriate checks and balances, get's accepted.
Then an email arrives stating the amount to be paid upfront (deposit and first month rent)
The documents needed to bring with for ID
and - proof of your tenants liability cover - that is NOT the same as contents insurance and is an additional insurance (con) - and you can't sign for the house without it.
How about f
k off?Which has been my advice thus far to the situation.
If the landlord is worried that damage done won't be covered by the deposit, then one would suggest they take out and pay for the extra insurance themselves.
I currently rent a few houses and wouldn't dream of asking for this insurance.
Is this a new thing?
Marcellus said:
Is the Property in the UK or France?
If France it’s the law that all tenants must have tenants liability insurance, cost is usually pretty low.
it's in the UK - and the tenant was quoted 180 over the year. If France it’s the law that all tenants must have tenants liability insurance, cost is usually pretty low.
Which is a low amount, but the way it was done (with a link to their recommended insurer) was very distasteful
nikaiyo2 said:
It’s a good thing, that I insist on, after a couple of bad experiences with various deposits schemes that seem to look for any reason to not pay the landlord.
I do not look to rinse tenants of their deposits, the Insurance means if they ruin the carpet I don’t have to worry, nor does the tenant.
The fact that it is really costly from the letting agent does not make it a bad thing, like the dealer rip off GAP insurance does not make it a bad product.
Any insurer that offers tenant contents cover normally offers this as an “extra,” it’s literally a couple of £ a month.
It has also made me realise how many tenants think the landlord provides insurance cover for their property...
so to be clear - I'm a landlord myself, and I would never ask for this.I do not look to rinse tenants of their deposits, the Insurance means if they ruin the carpet I don’t have to worry, nor does the tenant.
The fact that it is really costly from the letting agent does not make it a bad thing, like the dealer rip off GAP insurance does not make it a bad product.
Any insurer that offers tenant contents cover normally offers this as an “extra,” it’s literally a couple of £ a month.
It has also made me realise how many tenants think the landlord provides insurance cover for their property...
If the landlord is worried the deposit doesn't meet the requirements, they need to be less precious, but the deposit up or take the insurance out themselves.
I see no reason why the tenant should.
This tenant is going to take it out to get signed up, then cancel it in the cooling off period.
It's not correct, and it won't be paid.
nikaiyo2 said:
You make a point. I don’t take deposits any longer, as it’s not worth it.
I could arrange it, it costs £80ish a year, so will end up being £15 pcm on the rent, by the time I factor in time, potential excess etc and the fact no business busy something then sells it on for the same price.
One reason the tenant should do it is because it is vastly cheaper to include it with contents insurance. Literally nothing or a couple of £ a month. A lot of tenants seem to think their property is insured by the landlord, when it almost never is, for obvious reasons.
The main reason is it protects the tenant as much as the landlord. In the same way insurance in your own home covers you when bad things happen.
I had an incident last year where a “model” tenant caused about £1000 of very obviously accidental damage, largely down to weird non standard sized doors, with insurance it was no problem at all.
I know I certainly felt a lot more comfortable claiming that £1000 from admiral than the nice lads deposit.
It is a clause in my tenancy agreement that this insurance is in place throughout the tenancy.
some people don't believe in contents insurance either.I could arrange it, it costs £80ish a year, so will end up being £15 pcm on the rent, by the time I factor in time, potential excess etc and the fact no business busy something then sells it on for the same price.
One reason the tenant should do it is because it is vastly cheaper to include it with contents insurance. Literally nothing or a couple of £ a month. A lot of tenants seem to think their property is insured by the landlord, when it almost never is, for obvious reasons.
The main reason is it protects the tenant as much as the landlord. In the same way insurance in your own home covers you when bad things happen.
I had an incident last year where a “model” tenant caused about £1000 of very obviously accidental damage, largely down to weird non standard sized doors, with insurance it was no problem at all.
I know I certainly felt a lot more comfortable claiming that £1000 from admiral than the nice lads deposit.
It is a clause in my tenancy agreement that this insurance is in place throughout the tenancy.
I don't agree though - no way will this insurance be taken out for this property. If the landlord wants to cover their property then they are free to.
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