Just been through it all. Make sure you have home insurance price and a separate listed price for contents. Home ins does not include carpets, curtains or light fittings, these are contents. It does include floating floors, dishwasher in cavity and anything that is fixed. I upped my house ins thinking this would include these things, but until it is listed as contents, it does not. I have made them specify curtains, carpets and light fittings, as I dont want to cover tenants loose furniture. If you had a lease with the tenants, but afterthe first year it went month to month, you had better get them to sign a statement saying they are renting month to month, or you are not covered
Hot Goss on L/L insurance
- Thread starter fernfurn
- Start date
Which insurer was it with?
The wording is:
There is no cover for default of rent that occurs:
: outside the fixed term of a rental agreement or
: if you didnt have a signed rental agreement in place
Originally I had a signed year long agreement but then they went month to month so I have got them to sign a statement saying they agree to rent the place on a month to month contract
My version is that constitutes a signed rental agreement for a fixed term
Looks like I will be on the phone again come Tues
There is no cover for default of rent that occurs:
: outside the fixed term of a rental agreement or
: if you didnt have a signed rental agreement in place
Originally I had a signed year long agreement but then they went month to month so I have got them to sign a statement saying they agree to rent the place on a month to month contract
My version is that constitutes a signed rental agreement for a fixed term
Looks like I will be on the phone again come Tues
This is the part that's not making sense to me. Month-to-month and fixed term are mutually exclusive, aren't they?
What would not be a fixed term, by your definition?
I'm with AAMI and this was one of the specific questions I enquired about before signing up as I couldn't find it documented anywhere. They don't pay the first four weeks anyway so month to month isn't an issue, I was more concerned with damage.
fwiw though I've haven't made a claim.
Cheers
I now use an Insurance broker to find me the best coverage - some of my apartments are fully-furnished; some are fixed term leases and others are non-periodic/short-term and variable.
I find the Broker is able to source the insurance at a competitive rate and making claims is an easy and quick process. I review the insurance policies every 12 months with the broker.
I find the Broker is able to source the insurance at a competitive rate and making claims is an easy and quick process. I review the insurance policies every 12 months with the broker.
Okaaaayyyy.... That's not a fixed-term lease in anybody else's language that I've ever heard.
It's a "month-to-month" lease.Put it this way: on what date does your current lease expire?
I imagine you'll answer "the 21st" or something like that, and say that you enter into a new one-month lease each month.
I don't think that will fly, unless you send out notices every month warning that the end of the lease is coming up, and that they need to sign a new lease until the 21st of the following month. I imagine that you don't do that; you have a single lease that lasts until either one of you gives notice that it's ending. That's NOT a fixed lease!If you're happy that you're covered, then that's no skin off my nose; I just want to make sure that you don't discover (just when you need insurance) that you're not covered.
No its not a lease, they just ask for proof of a fixed term of a rental agreement and the fixed term agreed with the tenants is month to month, (not in the terminology of leases, i.e.: fixed term) On the other hand you cant trust them as far as you can throw them. I upped the insurance to Landlords Insurance and had written all over the old policy what that included, and they sent me a book entitled Investor house insurance, however, the paperwork for that year was titled Classic Insurance. When I came to renew and found out they said I didnt have Landlords Insurance and I said I had the pds titled Investor House Insurance - she went away to talk to Supervisor and came back and said - "We just sent you that so you could see what it included" I was flabbergasted and let fly that as there is no policy no on that book to link it to me, they could say I had picked it up in the street. I asked this time to send me a fax confirming our discussions but they wouldnt.
On a side note my good freinds from work just moved into her new secured apartment. (intercom, concierge etc)
been in for 3 days & got robbed easter afternoon! Cops working on the CCTV atm as there was no damage, its like they had a key.
2 macbook pros
2 ipods
Iphone
countless other stuff
total value about 10-12k
Insurance?
nope
"We were going to organise it first thing today"
Hard lesson to always 'ensure your insured' No gaps between coverage.
Happy easter
been in for 3 days & got robbed easter afternoon! Cops working on the CCTV atm as there was no damage, its like they had a key.
2 macbook pros
2 ipods
Iphone
countless other stuff
total value about 10-12k
Insurance?
nope
"We were going to organise it first thing today"
Hard lesson to always 'ensure your insured' No gaps between coverage.
Happy easter
AAMI's Landlord policies do include carpets and blinds, they don't include the first month if a tenant defaults as there should be bond to take care of that anyway.
OK, I think we're just going in circles now. I'll drop it as neither of us seem to be getting through to the other.
I still have no idea what this means but you seem happy that you're covered so that's all that matters.She was right. Every time I do a change on my policy, i get the paperwork in the mail outlining what those changes are.
If you didn't get that - you didn't change it. I guess more important question would be: did they charge you money for upping the insurance? If no - then it's obvious they thought you are after more info or something.
