UK Landlord Forum / Life

A quick post really to see whether anyone has any experience buying / claiming on different landlord insurance policies / using different companies (including the ones listed on the site).

I am planning to let my house shortly and am planning to purchase the following:

1.  Tenant Check and Credit Score (I am planning to use TenantVerify and do their comprehensive check).  I have also followed this site to the letter and met the tenant in their house, seen bank statements, payslips, right to rent check documents etc...  Any other tenant services / experiences.

2.  Insurance: I'm between HomeLet and Direct Line.  Direct Line includes some boiler cover (providing its serviced - having that done with gas safety cert) and also legal cover for eviction / some rent protection.  Direct Line is £208.42. HomeLet is £147.63 (won't cover my boiler as over 10 years old) if I add legal cover it jumps to £275.31 with HomeLet so I'm probably gonna go with Direct Line.  Direct Line also includes access to legal documents (with checking).

3.  Cover for Boiler / Appliances: As I will be away (100 miles) I am considering taking out a BritishGas HomeCare policy for £19.50 per month (£60 excess) it will cover: Boiler, CH, Electrics, Plumbing and the kitchen appliances (built into kitchen - dish washer, fridge/freezer and washing machine) and tenants can contact them direct.  I don't anticipate any appliances breaking but then I read this website and wised up.

Has anyone got any other suggestions or advice?

Thanks again for the support.

Don't know Tenant Verify but my experience of reference providers has been mixed over the years and you seem to have taken sensible steps to check the tenants current property.

I use Direct Line for my own stuff but in my role as a letting agent I know that many landlords don't bother with it. it's not a huge cost though and gives me peace of mind in case anything happens. I've never had to use it so can't comment on how good it is but I have dealt with landlords household claims over the years and found AXA to be one of the quickest at responding if that is important.

British Gas Homecare is excellent but I wouldn't take the appliance cover as my experience tells me it is too expensive for what it offers and I would also get a policy without an excess as they soon add up. Have a look at the small print about repairing appliances and how old they need to be before they won't cover them. Also consider that BG offer either appointments from 8am -1pm or 12pm - 6pm so bear that in mind if you have a tenant who works normal hours. BG engineers need someone at home to let them in whereas lots of local contractors are happy to collect keys to let themselves in.

Thanks for that... Thats the issue with insurance.  I hope never to have to use it so even at the end of the year - if I'm lucky I'll have no experience.

I've asked the tenants and they seem happy with the BG home care approach. They last lived in a place where a broken boiler 22nd December wasn't put right until 4th Jan... I know this can happen with any company but BG do have an OK track record on repair time.  I would imagine finding a local engineer, who was free for an urgent appointment, would be both difficult and expensive (worse over the holidays) and I don't have it in me to worry about that.

From what I can tell about Tenant Verify - Tenants are scored with two agencies.  Bank, Credit, CCJ's and electoral register are checked and then they call the place of work and current landlord / letting agency and confirm details... I guess for £32.70 its OK and it ticks the formal referencing / credit check box on direct lines rent insurance bit.

I'll remind them they may have to be in - but I also have a trusted local key holder so...

I'll keep anyone who reads this posted.

It's about scale for things like BG cover. If you have 1 property and your heart isn't in this as an endeavour, then it makes perfect sense, as it removes the burden of responsibility from your shoulders. In that scenario I would probably pay anything I thought was reasonable. If scale increases over time, then the maths start to look more attractive towards disengaging from this approach and just having a qualified person, or two, that you know and trust to become involved. I've had 2 catastrophic boiler experiences in my years of letting a number of properties - the odds are, for me, that they'll be few and far between.

As for Landlord insurance - go for the cheapest.

As for referencing, I've tried a few over the time (usually engaged by different Agents, of which I've also tried a few) and they all seem much of a muchness, they must do, really, I suppose. I've always reserved the right to override with my gut anyway. I find doing my own viewings and talking to the prospective Tenants works really well. I always ask them at the outset if they have any CCJs... their answer (the honesty of it, not necessarily whether it's a yes or no) will influence what happens next. While I absolutely understand it's possible for a person to not know about a CCJ they might have... it's probably unlikely, and it's really unlikely they'll not know about 4 CCJs, totalling £6,000 (a scenario I had from a woman who did manage to express complete surprise when I carried out the referencing anyway - which she paid for!).

My Agent (who did Tenant Find for me only) had one word of advice for me... "run". I took it.

Suggest you tell BG that the boiler is 10 years old and ask specifically if it will be covered.
I've had several older boilers on cover only to find that when they needed to be repaired BG engineers can no longer source the parts and so that cover is invalid.

To BG's credit they have always back dated a refund when I complain but try getting a plumber in on a Sunday to fit a brand new boiler with 3 hours notice...worth asking up front.

Best of luck.

Thank you both - good advice.

My reference check came back fine (credit score, employer check and check with current letting agent), payslips fine, P60s fine and their current rented house looked clean when I went around.  I am therefore happy with this tenant.

Regarding the boiler:

Thanks I hadn't appreciated the age thing although I recall telling them the make, model and age as part of the registration process.  Furthermore it includes in its price an annual service - after which (providing the boiler is working I guess) the cover begins...I'm assuming therefore that once it has had its service it will be covered.  I will however ask.

Thanks again!