Landlord insurance

[Mendi]

Anyone know roughly how much this costs? For a 3 bed terrace in a rural area.

[Spickle]

Mine is around £150 per year, but only have buildings insurance not contents.

[specialsubject]

you will have some contents - carpets, curtains, any white goods etc.

you should also seriously consider legal expenses cover, cover against malicious damage and maybe rent guarantee (for those who decide to stop paying, given that it takes months to get them out)

I've been offered the latter at 2.5% of rent plus VAT.

[centralmum]

Also malicious damage by a tenant is a must. Many don't offer it as standard but as an add on so please check. I know the likes is direct line don't have it at all so that means if a tenant has a party or purposely damages your house you will have not insurance cover (bitter experience) so please always make sure you have this cover.

[aperfectday]

Sorry to hijack this but has been on my to do list for a while . Can anyone recommend any companies?. I think I tried first direct and was put off I would want cover for malicious damage etc.
thanks

[centralmum]

Endsleigh do. As do Aviva.

[centralmum]

Endleigh are as standard from memory but Aviva is an add on.

[HaveToWearHeels]

We use Direct Line.

[centralmum]

You should may be check that your policy covers malicious damage then? I never thought about it until a tenant of mine who had been fine for 8 months started using drugs, trashed my flat (and I mean completely trashed) and did a bunk. It cost me about 12 grand to put right as there was no insurance due to malicious damage.

[treesntrees]

Another thing to remember is some insurance companies will not insure the property if the tenant is on benefits apart from disability benefits and those that do, charge more if the tenant is on benefits even if they have been your trouble free tenants for years as mine have been. Very discriminatory.