Choice Rentals - Professional Letting Agents | Page 30

Can I claim for lost rent?
Insurance policies containing specific Loss of Rent cover are common and you should check
what cover is availableunder your policy. Separately, loss of rent could form part of a claim
for damages in casesof negligence against your tenant or a third party.
What if my tenant or a third party makes a claim for personal injury?
Even in these litigious times, claims of this nature are rare. Most policies will offer you
Public Liability cover, and so your insurer should beadvised immediately a claim or notice of
an intended claim is received. You should also seek independent legal advice.

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Having Public Liability cover is important.
Always advise your insurer immediately if a claim looks likely.

Can Choice Rentals progress a claim on my behalf?
Processing insuranceclaimsis viewed as a Regulated Activity by the Financial Services
Authority ( FSA). Whilst this prevents us from lodgingand dealing with claims for UK
based landlords, we can co-operate with your insurers, arranging for quotations and
estimates using our bank of approved contractors.
For non resident landlords we are ableunder FSA regulations to liaise more fully with your
insurers.

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Regulation prevents us from processing claims on behalf of UK based landlords.

What if I have a major claim?
Your insurance company will instruct a loss adjuster to represent their interestswhen a
claim ismade. They will investigate the circumstancesaround the loss and report back to
the insurance company. An adjuster will not formulate a claim, but adjust any claims that
are presented to them.
With small tomedium sized claimsit is usually relatively easy for most landlordsto agree
settlement direct with their insurer.
For larger claims over £20,000, you may wish to consider appointing a firm of
independent loss assessors to represent you. Their staff of technical experts will handle
all communication and correspondence with your insurer and their representatives,
interpret the policy with your best interests in mind, formulate all aspectsof your claim, and
effectively manage all aspectsof the claim through to final settlement. Their fee is usually
based on a percentage dependant on the level of settlement.