Vanilla building insurance

Hi all,

Our LL insurance is ready for renewal, but the increase on the premium is over 30% and we don't think it's reasonable given that it's building only. We have a very good relationship with the tenant, so we're quite confident that they won't cause any meaningful liability in the next 12 months. Does anyone know of any vanilla LL building insurance policy offering that comes with a lower premium? That is, a policy for LLs that covers damages to buildings by natural disasters, fire, etc. but not tenants.

Thanks

 

Just get a few quotes. Just check the excess and read the conditions.

It sounds like you just want building insurance and not landlord insurance?

So you don’t want cover for loss of rent?

Check formally (in writing) that you will be covered for damage accidentally or purposely done by a tenant or their visitors (e.g. tap left on, their washing machine floods and ruins the mdf skirtings, or a candle falls over and burns the house down).

 

I'm not sure what sort of policy you have now- do you have a brokered policy with someone like Terri Scheer and EBM that have a distinctly separate Building & Contents and Landlords policy? If that's that case, you can probably just find a competitive insurer who doesn't have the Landlords policy.