Tenancy Liability insurance & Check in check out fees

[OAhmed]

Hi,

I have recently changed apartments. Both rented. I was wondering if someone can shed some insightful light on the following couple of things please:

1) My new estate agent require a tenancy liability insurance cover? They have also given link to a company they know. The estate agent required a cover of upto £5000 which only this company gives hence I had no other choice but to get cover through them. I thought the security deposit served this purpose? Is this legal to make this a mandatory requirement?

2) Also I have noticed estate agents charging absurd check in and check out fees for literally nothing? They give you keys and take keys back and they charge for this? Again are there some regulations around this? can they charge for this and if so how much, since there must be some limit to this surely?

Thanks!

[Dorkins]

Is the requirement for tenancy liability insurance in your tenancy agreement?

[OAhmed]

It's not in the tenancy agreement but they emailed me saying it is a mandatory requirement for check in otherwise they won't handover the keys to me.

[Millaise]

What would you make the odds for the insurance seller somehow being connected to the EA? It might be worth a directors check on-line.

The obvious thing about insurance is that it overall makes money for the provider, so you would be better off insuring yourself, which for low levels of cover is easy...just take the hit if the unfortunate event happens. What the EA is effectively doing is asking for a larger deposit, some of which you are guaranteed to not get back because it has been consumed as an insurance premium.

[Kyouken]

I have to have tenants liability insurance as well with my agent.  For the first year we may have went with the one they recommended which was of course expensive but we didn't know where else to get it at the time and had little time to properly research.

We went with endsleigh or what ever they are called the year after and since then I get it from cover 4 tenants dirt cheap. I think it is between 25 to 30 with a voucher code.  I don't have much stuff worth anything so all I needed it for is to tick a box. If it isn't exactly what you need contact then I am sure they would modify it for you.

https://tenantinsurance.cover4insurance.com

 

[Dorkins]

3 hours ago, OAhmed said:

It's not in the tenancy agreement but they emailed me saying it is a mandatory requirement for check in otherwise they won't handover the keys to me.

Gotta love letting agents and their endless addition of extra hoops for tenants to jump through.

All insurance policies have a minimum 14 day cooling off period. You could take out the insurance the day before you get the keys, pick up the keys and then cancel the insurance policy if you decide you don't want it.

https://www.citizensadvice.org.uk/consumer/insurance/insurance/managing-your-insurance-policy/cancelling-an-insurance-policy/

I assume you have no contractual arrangement with the letting agent as the contract is between you and the landlord. If this is what it takes to get them to do their job (hand over the keys) then it's an option.

[Bruce Banner]

12 hours ago, OAhmed said:

It's not in the tenancy agreement but they emailed me saying it is a mandatory requirement for check in otherwise they won't handover the keys to me.

I had that once. I asked them if they were joking and said I would not be taking out any such insurance, they backed down immediately.