Landlord insurance claims: are you covered?

They say your home is your greatest asset. But if you’re a residential landlord then your rented property is also a very valuable revenue-earning investment which needs to be protected.

Insurance is a key element in this and it’s a mistake to think this can be left to tenants. Landlords need their own appropriate cover in case something happens which affects their property and their income. But most importantly, any insurance they take out should be specifically designed for landlords, otherwise they may face difficulties if they need to make a landlord’s insurance claim.

Contract, landlords, forms, sign, keys

There are lots of relevant products on the market which should be considered. These include:

Buildings insurance

This covers damage to the property caused by, for example, fire, flood or escape of water. Specialist landlord buildings insurance would usually also cover damage caused by vandalism. In addition, it should include ‘loss of rent’, to protect against an interruption to rental payments because of a disaster such as a fire or flood. Buildings insurance is likely to be compulsory if you have a buy-to-let mortgage.

Landlords contents insurance

This covers any contents in the property owned by the landlord but used by the tenant – their own possessions would be covered by their own insurance. So this is particularly important if your property is let furnished. It usually also provides public liability which will help protect against compensation claims if someone is injured in the property.

Rent guarantee

This is different from ‘loss of rent’ and provides protection if a tenant defaults on rental payments. You would normally need a proper tenancy agreement in place with background references for your tenants in order to take out this cover.

Alternative accommodation

You may have a clause in your tenancy agreement which commits you to providing alternative accommodation if your property becomes uninhabitable. Cover for this can be added to your insurance.

Home emergency cover

This can be added to your buildings insurance to protect you and your tenants against loss of essential services or breakdowns.

There are several specialist landlord insurers to consider, as well as specific products for landlords from mainstream insurance companies. As always, it’s best to shop around, and most importantly, to read the small print on any insurance policy so you know exactly what you are – and are not – covered for.

 

Making a landlords insurance claim

Whatever type of insurance claim you make, it’s always a huge relief to get a speedy settlement. This is particularly true if you’re a landlord; delays can have severe financial consequences if they extend the length of time during which a rented property is uninhabitable.

This is why many landlords recognise the benefits of using a Loss Assessor if they need to make an insurance claim. It can be an overwhelming burden, particularly if the landlord lives a long way from the property, has an unrelated full-time job, or has multiple rented properties. Having to deal with a complicated insurance claim as well loss adjusters, surveyors and contractors, can be unmanageable.

A landlord’s insurance claim often entails far more than just the reinstatement of the property and replacement of lost or damaged contents. Using a Loss Assessor can make all the difference, particularly when it comes to some of the more technical aspects of the claim. These might include:

  • Disputes over whether the landlord has met statutory obligations over equipment installed in the property.
  • Dealing with the tenants themselves, particularly over whether they or the landlord are liable for elements of the claim. They may not have taken out the right insurance and may expect more than they are entitled to.
  • The extent of lost rental income; what is covered and for how long?
  • Alternative accommodation for tenants if the property is uninhabitable; should this be provided and, if so, who pays for it?
  • Dealing with malicious damage caused by tenants; how do you prove this and how do you recover the costs?

Using a Loss Assessor means that a professional will take the whole process over and ensure the landlord receives what they deserve under the terms of their insurance policy, as quickly as possible.

In addition to the points listed above, if you decide to use a Loss Assessor to handle your insurance claim, then you should expect the following from them:

  • Organising immediate specialist flood or fire restoration works and emergency repairs.
  • Putting together the buildings, landlords contents and any other relevant insurance claim. This would include calculating and compiling a claim for loss of rent if insurance has been taken out to cover this.
  • Handling all communications and attending all meetings with the insurer and their loss adjuster.
  • Exploring with you all your options for reinstating the property, as well as helping to pick the best specialist independent chartered surveyor and building contractors. Alternatively, negotiating a cash settlement if you would prefer this.
  • Supervising the surveyor and contractors carrying out the reinstatement of the property, ensuring you have a full say in how this is carried out.

Who pays for the Loss Assessor?

Typically, there are two options when it comes to paying the Loss Assessor’s fees:

  • By appointing the surveyor and building contractors they introduce, the Loss Assessor will often not charge a fee to the landlord for managing the claim. The surveyors and contractors introduced will be on the Loss Assessor’s network of approved suppliers, and to be on this list, the companies pay a management fee to the Loss Assessor to manage the network. In Morgan Clark’s case, the companies approved to be on the network list are only those who adhere to our very stringent high standards, the companies are vetted regularly and there is thorough monitoring of their workmanship and professionalism throughout every claim.
  • Alternatively, you may decide to choose your own builder to carry out the reinstatement work, or opt for a cash settlement. In these cases, you would be charged a fee based on a small percentage of the claim value.

By using the services of a reputable Loss Assessor, you should expect that they will more than offset their fees should they have to charge any.

Can we help with your claim?

If you’ve read the information here and feel you would benefit from a conversation with one of our specialist Loss Assessors, please call us with no obligation.

Popular Questions

What will my insurance company think if I appoint a Loss Assessor? faq plus icon to expand accordian

There is no reason why your insurance company or Loss Adjuster should discourage you from appointing your own Loss Assessor. If your Loss Adjuster is trying to dissuade you from using our services, you should question why they are against the idea of you being equally represented. After all, a Loss Assessor can only help a policyholder claim for what is legally within their insurance contract. Click here to read more about Loss Adjusters.

Doesn’t my insurance company manage my claim? faq plus icon to expand accordian

While many insurance companies will support you in the initial weeks of your claim, their only responsibility is to ensure costs are covered to restore your property and replace damaged contents, stock, machinery etc. (if applicable). As your claim progresses, you will be left with the most stressful and time consuming day-to-day elements to organise and oversee alone if you do not appoint a Loss Assessor.

What’s the difference between a Loss Assessor and a Loss Adjuster? faq plus icon to expand accordian

Loss Assessors and Loss Adjusters are both insurance claim professionals, but there is one key difference in their role during the insurance claim process; a Loss Assessor is appointed by and works exclusively for the policyholder, while a Loss Adjuster is appointed and paid by the insurance company. Loss Adjusters are expected to remain independent. Read more about the difference between Loss Assessors and Loss Adjusters here.

How much will this cost? faq plus icon to expand accordian

In the majority of cases we are able to represent our clients without charging a fee at all. Read how we are able to offer our services free of charge by clicking here.

Still have questions?

Visit our FAQs page for more answers.

What our clients say, in their own words…

https://youtu.be/f4JgIrON3TQ

Flood Insurance Claim Testimonial – Recentre Health Ltd

After a severe leak caused major water damage, reCentre Health turned to Morgan Clark for expert support. We took over the insurance claim, secured a stronger settlement, and lifted the stress—so Tom and Suzi could keep focusing on their clients.

https://youtu.be/DVKC-edeMlA

Flood Insurance Claim Testimonial – Lilias Ahmeira

When flooding devastated Lilias’s beautiful Somerset farmhouse, she was left facing the overwhelming challenge of restoring her home while balancing work and motherhood. As a holistic practitioner who’s used to helping others, Lilias suddenly found herself in need of expert support.

2 / 6

https://www.youtube.com/watch?v=RMIo7flsPBs

Fire insurance claim testimonial – Carl Evans

Carl Evans, a firefighter from Nottingham talks about his experience when his garage caught on fire and his entire house was left smoke damage. After speaking to his Insurance company, Carl soon discovered the expert support of Morgan Clark’s Loss Assessors was going to be essential.

3 / 6

https://www.youtube.com/watch?v=5gnX4xNv6EE

Fire insurance claim testimonial – Jim & Jan

Jim and Jan talk about their experience when a thatched roof fire practically destroyed their home and the crucial help they received from Morgan Clark.

4 / 6

https://www.youtube.com/watch?v=mD80ZU3uh6s

Fire insurance claim testimonial – Jane Bird

When Jane had an explosion at her home she had no idea where to turn until she came across Morgan Clark and she is so relieved that she did.

5 / 6

https://youtu.be/DNtvIShsxlo

Landlord fire insurance claim testimonial – Dom Pickett

Dom offers an account of his experience as a Landlord making an insurance claim and offers his top tip to others who find themselves in a similar position.

6 / 6

See all of our reviews on
Alan was very helpful, friendly and extremely informative …

“Alan was very helpful, friendly and extremely informative. He guided us through the initial process of making a claim after the traumatic experience of having a house fire. All e-…

Ms Wilson

Never have I come across a team of people who exceeded my expectations…

“I have worked as a professional all my life. Never have I come across a team of people who exceeded my expectations. They were courteous, kept in touch at every stage, quick to re…

Mr Rabinowitz

We could not have done this without you …

“Exemplary! There was no occasion when we did not feel fully informed about the progress of our claim and the activity at that time being undertaken by all parties concerned. We co…

Mr & Mrs Biggs

You did it all for us and we can’t thank you enough …

“We have found you extremely easy to deal with and to be honest you made the process very easy for us with taking the workload in that area from us. After such a terrible fire, you…

Ms Hall

You took all the worry away from us …

“We were in a very bad place following the fire when we contacted you after a random internet search. You took all the worry away from us and we were prepared to accept whatever de…

Ms Brandon

Outstanding customer service and experienced staff …

“Extremely high standard of service. Extremely professional, both representatives that dealt with the case, Nathan Robertson and Ryan Field, gave clear and honest advice. Always av…

Mr Asif

Vital in getting the insurer to accept the liability …

“Morgan Clark understood the policy wording on our landlord insurance policy which has been vital in getting the insurer to accept the liability and the costs that were involved in…

Mr Seedat

We have recommended your company and would do again …

“Paul was very helpful and explained all the options and kept us updated taking a lot of stress and time-consuming communications away from us when we didn’t really know what to …

Mr Boylan

Reassuring advice throughout …

“All parties involved at the site meetings were so helpful and absolutely professional in organising the repair of our house and the claim for damages and contents. Everything was …

Mr & Mrs Mc Ginness

Reassuring advice throughout …

“Due to the poor experience with the loss adjuster we never thought that we would have our house returned to the condition before the incident happened but Martin excelled in his q…

Mr Nazir

We can’t thank you all enough…

“I was constantly kept informed by email, text and phone whenever there was a new development concerning the insurance company, the claim or progress of the building work…They we…

Mr & Mrs Badder

An outstanding service…

“This is the second time we have used your service. What you offer is an outstanding service at a time when clients are faced with major turmoil in their lives and the potential of…

Mr Lund

I know I would not have coped without them…

‘My team’ as I have grown to call them, have supported us through some challenging times, all with 100% professionalism, and with total support when I was finding all the…

Mrs Hampshire

Highly supportive and we cannot recommend them enough…

Our high level of satisfaction with Morgan Clark comprised of many fundamental components including communication, teamwork and collaboration sk…

Dr Baqar & Mrs Ali