Landlords & Tenants Insurance - Frequently Asked Questions
- Can I pay my Insurance on monthly instalments by Direct Debit?
- Will I be covered 'new for old' for my contents?
- Does the policy carry an excess?
- Can I get immediate cover?
- When will I receive my documents?
- What are the minimum and maximum contents I can insure?
- How can I make a claim?
- What if I wish to change or cancel my policy?
- Will I be covered for accidental damage?
- Will there be a different premium for unoccupied properties?
- What is the minimum and maximum rebuild costs with Leaseguard?
- Where can I find the rebuild cost of my property?
- Is malicious damage and theft by the tenant covered?
- What is the difference between the standard option and the Low Cost option?
- Can I insure multiple properties on one policy?
- What items are classed as Personal Effects?
- What is classed as a 'Valuable Item'?
- What is Tenants Liability Cover?
- Why do I need Rent Guarantee and Legal Expenses Cover?
- How does a Landlord qualify to purchase Rent Guarantee and Legal Expenses Cover?
Can I pay my Insurance on
monthly instalments by Direct Debit?
Yes, we require a 20% deposit followed by 10 monthly
instalments which will include a 12.5% interest charge.
Will I be covered 'new for old'
for my contents?
Yes, 'new for old' cover is included.
Does the policy carry an
excess?
Yes, our standard policy excess is £100 and £1000 for
subsidence unless stated otherwise.
Can I get immediate
cover?
Yes, for Landlords Buildings Insurance or Landlords
Buildings and Contents Insurance we can hold cover for 14 days
pending payment and proposal form.
When will I receive my
documents?
Your documents will be issued when we have received your
payment and your duly signed proposal form.
What are the minimum and
maximum contents I can insure?
For both Landlords Contents and Tenants Contents the
maximum and minimum sums insured are as follows:
Minimum - £10,000
Maximum - £30,000
If you require cover under £10,000 or over £30,000 please contact us as we can refer it to our underwriters.
How can I make a
claim?
The claims telephone number can be found on your Policy Summary and
Policy Schedule, alternatively please contact us and we will provide you with the
telephone number.
What if I wish to change or
cancel my policy?
Changes to your policy can be made by telephone and may be
subject to an additional premium or administration fee. If you wish
to cancel your policy we will require confirmation in writing along
with your policy number, reason and the date you wish your policy
to be cancelled from.
Please note cancellations are on a pro-rata basis with a 30% administration fee providing there have been no claims made in the current year of Insurance.
Will I be covered for
accidental damage?
Yes, you will be covered for accidental damage as well as
all standard perils.
Will there be a different
premium for unoccupied properties?
The premium will remain the same for an occupied property
for a maximum of 60days. There after we will refer to the
underwriter as they may impose a loading of the premium and
restrict some cover.
Landlords
What is the minimum and
maximum rebuild costs with Leaseguard?
For Landlords Buildings Insurance the minimum and maximum
sums insured are as follows:
Minimum: £50,000
Maximum: £500,000
If you require cover over £500,000 please contact us as we can refer it to our underwriters.
Where can I find the rebuild
cost of my property?
You can check this information by visiting the Building Cost
Information Service website.
Can I insure the contents
only of my let property?
Yes, the minimum cover is £10,000.
Is malicious damage and theft
by the Tenant covered?
Yes, up to £5000 on our standard policy but excluded from
the Low Cost Option.
What is the difference
between the standard option and the Low Cost option?
The Low Cost Option excludes theft and malicious damage by
the tenant.
Tenants
What items
are classed as Personal Effects?
An item you would take outside the property which can be
worn or carried e.g. laptop, camera etc. - this excludes your
mobile phone.
What is classed as a
'Valuable Item'?
An item composed of gold or other precious metals,
jewellery, watches and works of art etc.
What is Tenants Liability
Cover?
This protects you if you damage your Landlords property up to
£2,500, excluding the excess.
Rent Guarantee
Why do I need Rent Guarantee
and Legal Expenses Cover?
This product provides protection if the tenant breaks the tenancy
agreement and rent is not being paid and/or legal action is
required.
The policy pays up to 12 months rent excluding an excess of one month and pays for legal action to be taken when there is a reasonable chance of winning the case.
How does a Landlord qualify
to purchase Rent Guarantee and Legal Expenses Cover?
The tenant needs to be successfully referenced by Leaseguard.
Our Referencing Final Report will state if Rent Guarantee if available for the Landlord based on the outcome of the reference.
If we have not answered your question or you require further information please do not hesitate to contact us.
