Hello. i know many of you are landlords in here. Can you recommend me a cheap insurance company for buildings insurance only =A3100k.
I have been looking on the internet and prices vary greatly. Cheapes so far is =A3194. thanks in advance for any help guys.
No. Telephone a broker, and get them to give the best quote, giving them the circumstances of your property. Let them do the work. You might even get discount.
ok thanks chris. i will get a few brokers together and see what they come up with.
That's what the ubggres are for....
OP. try the RLA website
i tried rentguard. they did have a special deal 10% discount if i join the RLA but that is =A375 and i would only save =A356 so not really worthwhile. Just as a coincidence i did get a quote of =A3170 from Ocaso Let.
Here are the details
I have been looking on the internet and prices vary greatly. Cheapes so far is £194. thanks in advance for any help guys.
As a side issue on this. I have two propeties I have rented out for 4 years now and their insurances are coming up for renewal. Whemn looking round previously I have been asked for the rebuild value and have just given the figures on my renewal from my present insureres. How can I get an up to date figure? have asked at Estate agents but they would only be able to give a market value, which is obviously not the same.
TIA
John
Why rent two properties, you can't live in two places at once! I suppose you might have had a job in Town, and needed to rent another place too....
I think he means he is the owner renting to others, not the tenant renting from a landlord.
Christian.
Why don't you F**k O** and annoy some other group. You NEVER provide a sensible answer to anything you reply to. If I was renting the properties for me to live in WHY would I want to renew the Buildings insurance when it isn't my building!
Cheers
John
That's letting.
The two words have become essentially synonymous, despite the etymology that originally suggested that each word had the perspective of one party to the transaction.
In any case, it was clear what he intended to say, particularly as he used the term "rented out", which unambiguously states that he is the lessor in the transaction. The lessee does not "rent out" a property, he could only "rent" it.
Christian.
Only to the ignorant.
So this's why we still have "letting agents" and why documentation still refers to "let", we still see "To Let" signs, and so on.
Actually, the last house I rented had a "rental agreement", not a letting one!
What you can't disagree with, though, is that "renting out", as used by the OP, unambiguously means "let" in the correct original meaning.
Christian.
I think he can dissgre with everything he doesnt understand. English usage changes.
NT
But "To Rent" signs have the advantage that graffitors can't insert an i.
Owain
Usefully, 'hire' works both ways - to hire out, or to hire in.
Owain
Oooh I know... How often I have wanted to have a little pot of black paint and a small brush...
There are web sites around which will purport to calculate this for you based on age of property (affects what work need to be done to rebuild) size (obviously) location (obviously) and type of dwelling.
In general I think you'll find that the automatic increments by insurers will tend to over estimate the rebuild value if left unchallenged for a number of years. When corrected, IME, they'll try to frighten you with "You may be under insured and this will affect all claims."
Personally I was delighted when I became eligible for a quote from Saga. Letting part of building - no problem. Don't bother with the rebuild costs unless its more than 400k! £2500 excess gives a 50% discount (I'm not going to make any small claim which I could probably fix faster than a claim form could be obtained, filled in, returned, approved and the money sent back) .
Yes, I like the new style policy that doesn't really bother with rebuild value.
My buildings insurance is with Barclays. The quote was considerably less than Direct Line. The "rebuild value" is a standard 500,000 pounds, which is at least 4 times what it needs to be. The premium is based on a set of questions about the number of bedrooms, construction type, age, etc. This way it is impossible to be underinsured or pay over the odds on the premium in order to be sure.
Christian.
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