Long and short, property got flooded with no fault of my own or another owner in the nearby flats. It was a building issue, management company resolved- tenant paid me nothing for the duration, which lasted best part of nearly 3 months, of pain they went through living in squalor. Insurance company (management company’s policy) offered me £10 a day for Disturbance Allowance which I think is pathetic. When I asked where the £10 per day figure came from they said it’s an industry figure. Can someone cast some light on this as it seems very low to me. I’m seriously out of pocket. Thanks!
Is this landlords insurance or just a regular buildings insurance?
Regular buildings. It’s a policy by the managing company who have insured the building. I am claiming on their policy, obviously because it’s an issue outside of my control. Thanks.
Landlords insurance normally covers a range of things, such as public/third party liability and alternative accommodation costs in the event the property becomes uninhabitable. You cant really expect the latter from a regulat block insurance.
Actually you can expect to be fully covered by the property insurance. We do it all the time across our properties.
I hate to say it but by cheap skating the insurance policy the managing agents have been negligent in providing adequate cover.
To recap, if tenants did not pay any rent for the duration of the disturbance, the insurance co will pay the rent? You are correct in that managing agents will squeeze premium, the excess was in the £000’s!! A few years ago, escape of water was £250. Just goes to show… I wish these sorts of things were regulated somehow as other owners/leaseholders won’t have a clue unless they undergo a claim.