hello all.
I am wondering if anybody has had experience in making a claim on Landlords insurance for tenant damage and loss of rent?
I’m just looking for a bit of advice in terms of the the companys’ expectations are, ie. My claim will be over $5000.00 which would mean they would send an assessor out.
I don’t know what their assessors are like and whether I’d be better off not claiming all the damage and making it under 5000.00 so that an assessor does not come out.Can anyone shed any light on this?
Thanks
tancas
Will all depend on the company you are insured with.
I have used the REI Insurance and have had no problems with any claims. the assessor comes out very quickly and the claims are processed ASAP. Only need the assessor for damage you are claiming and usually if its above $3000 (REI).
Some policies are not as good as others and have had many problems with other isurance companies and claims, but no problems with the REI.
I had to put in a claim for loss of rent and tenant damage through Commonwealth bank landlord insurance.
I was glad i called in for the assessor. the property was 5 hours from home and if i kept it under 5 grand that would mean i would have to handle the repairs personally.
if u use an assessor they would want to see a lease as well, so if its self managed im not sure that would be ok in the eyes of the insurance???
hmmm in my case the agent was an ass, he promised me there was only “a couppelofgrand” damage, turned out to be just under 8….
well loss of rent seems to be only paid up until the repairs are predicted to be finished. in my case repairs were predicted to be 4 weeks, they took 6 so i was only paid for 4 weeks.
another thing i was not happy about was the fact that they REPAIRED and not replaced $33 bunnings internal hollow doors. although they had just been installed new 5 months before when the tenant had just moved in…. but anyway…
u pay insurance, so use em for what they do! dont try to scrape in the repairs just to not get an assessor, the repair job should be done and done right, perhaps there is more of a chance of this happening when an assessor is involved as they watch over the repairs for your case personally, and its he or she that you answer to when the job is done or if you have complaints about the work.
hope that helps…
jason
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