PROTECT YOURSELF FROM LOSS OF RENT

10 Jun 2016

The recent floods and storms have put the spotlight on insurance. One part of the normal commercial policy is 'loss of rent'. This is a really important cover and is paid where damage liability is met by the policy and rent stops. Like all insurance, to get a full payout you must have insured the property at full market value under the policy. This applies to loss of rent. Make sure the figure in the policy is equal to what the rent is, or your claim will be reduced proportionally. It's not expensive but quite often owners fail to update the rental figure in their policy. Don't be caught out - check your policy now.