Dear all ,
Is there any home care insurance recommend for landlord?
I rent out a a new build and the warranty for white goods is going to be expired .
I have checked some insurance company , but most of them need proof of purchase ( covering the total lost ) of course I won’t have this as it is installed with the house , what should I do ?
I have asked them if warranty registration could be a proof , but they said “No”
Thanks in advance !
I have LL insurance which covers central heating and plumbing. I retain a contingency fund from the rent to cover unforeseen maintenance issues such as a faulty washing machine or fridge/freezer. You can also contact the manufacturer to see if they offer an extended warranty,
Does your tenancy agreement or any other paperwork state that you are responsible for repair/maintenance of the white goods? Are they listed on the inventory? If not, then I’d consider letting tenants know that you are not covering them. It’s highly unlikely that insurance for any white goods or even heating or plumbing will be worth it in the long run. From my experience of letting property since 1998, it’s far cheaper to self-insure for the few times you need to spend money. Bear in mind that any claim will bump your premiums so they’ll claw it back from you eventually in any case.
I personally offer no white goods with properties partly because I don’t want the hassle of repair and replacement but mostly because most Ts come with their own in any case. I have LL insurance but will only ever claim from it for something catastrophic.
Thank you so much ! I will have a look.
I have electrical appliances install already , but the rental will be less if I don’t cover repair ?
But it’s a good point that I don’t cover repair and maintenance for white goods . Thank you
Many white goods manufacturers now outsource their product warranties to external companies such as Domestic & General. Once your original warranty expires, you can set up repair cover for many white goods brands and models directly with D&G (another one I have used is Domex). You don’t require proof of purchase to do this with them. It’s a bit of a toss up between self-insuring and insuring via these companies, depends on quality and average life expectancy of the appliance, usage related to tenant types, etc. I use a combination of both strategies. For example, I have insurance coverage on some washing machines as I’ve found that these tend to play up more than other appliances.
Thank you , I just have bad repair experience with D&G, and indeed, I am thinking not including repair and maintenance for the white goods. or can I just set the maximum per white goods, I do not want my tenant not taking care my white goods of which they are still new after 2 year warranty.
Thank you