Claiming on your landlords building insurance

When you’re a landlord, the peace of mind offered by landlords buildings insurance is worth a lot. Choosing your package well and keeping your insurers as up-to-date as possible, therefore, is crucial. With this done, you can relax in the knowledge that if something happens, your investment is safe. What do you do, then, when that ‘something’ happens?

People are often apprehensive about making a claim on their landlords buildings insurance. They may have heard stories regarding difficult staff or technical loopholes being used to deny payment. More often than not, these tales are from times long past. Nowadays, statistics show that the overwhelming majority of claims are dealt with quickly and efficiently, satisfying the customer – you. Don’t hesitate if you think you have a valid claim. Get in touch with your insurers as soon as possible, avoiding the front-line staff and lodge your claim in writing.

If you are unfortunate enough to experience damage to your property, the first thing to do is notify the police. They will give you a claim number which will make your claim verifiable. Once you have this number, contact your insurers. Get hold of a claim form and get it back to them as quickly as possible, with any evidence you have. You must also describe what happened leading up to the event and it’s also worth explaining what you’re doing to stop it happening again.

In claims that are above a certain limit, set by your company, a loss assessor may be dispatched to take details and assess damage. They report back to your insurance company to give their opinion on what action should be taken – repair, replacement or cash settlement.

As a final point, beware of making claims for very small losses. Any claim on your record can influence your premiums. If you don’t take steps after a claim to prevent a similar event happening again, this can also end up costing you more. When you do have a claim that’s worth making though, don’t hesitate – get in touch with your insurers and get the money you’re owed.