A cautionary tale of not having landlord insurance?
12:08 AM, 30th January 2024, 2 years ago
5
Hello, Nice and simple, just visited a friend who got flooded out and is now in temporary accommodation. He tells me his next door neighbour was working abroad and decided to rent out the property.
It got flooded ! – but he hadn’t told the insurance he was renting it out, so they returned his premium and refused to do any repairs.
Good for the insurance company I say.
You don’t play at renting out properties and need to know the rules.
I also hear that the tenant is after some money as well to pay for their temporary accommodation.
Thank you,
Derek
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Member Since May 2015 - Comments: 2203 - Articles: 2
11:08 AM, 30th January 2024, About 2 years ago
Gloating over your friend’s problems may lead to him being a former friend.
Member Since March 2020 - Comments: 189
12:31 PM, 30th January 2024, About 2 years ago
The article states that it is the poster’s friend’s neighbour who didn’t have insurance. I am guessing that if a neighbour is affected, without insurance for the affected property neighbours couldn’t claim for alternative accommodation etc.
I believe that all mortgage holders are required to have buildings insurance but I am not sure about non mortgage holders or even how often lenders check up on this. Mine certainly haven’t checked to see if I have it, though of course I do!
Member Since March 2023 - Comments: 1506
5:42 PM, 30th January 2024, About 2 years ago
Reply to the comment left by Helen at 30/01/2024 – 12:31
Good point, the neighbour had a mortgage so I am not sure how that would be affected, did the neighbour tell them he was renting out the property. Also, my friend is a bit worried that although his insurance company will fix his property will the neighbours property be dried out properly and will there be damp coming through the shared walls.
Member Since September 2023 - Comments: 335
2:16 PM, 1st February 2024, About 2 years ago
Reply to the comment left by Helen at 30/01/2024 – 12:31
What a fool this person is , will cost him dearly for the sake of a few extra £. Lesson learned l hope , renting a house out and you need landlord insurance, very lucky it didn’t damage other properties.
Member Since March 2023 - Comments: 1506
2:19 PM, 1st February 2024, About 2 years ago
Reply to the comment left by Michael Booth at 01/02/2024 – 14:16
I guess as he set out NOT to be a landlord and he was working abroad he may not have known that you have to tell your mortgage company and insurance, I bet he didn’t go through a letting agent either as they would have advised him. I wonder if he even has an AST agreement