Alternative Accomadation/ loss of rent during building work claim

[joerg]

Hi

Can someone let me know what is 'standard' property owners insurance cover for the following situation.

According to my current insurance policy, if my property is under-going rebuilding due to a valid claim, my tenants are found alternative accommodation hence I still receive my rents and can pay my mortgage.

If the tenants move out of the alternative accommodation it is unclear if it is possible to find new tenants for the same alternative accommodation (if this is physically possible) until my property re-build is finished, or would I need to give up this alternate accommodation and hence loose my rental income? Or if it is standard policy that if the tenant moves out then the insurance cover loss of rent during the re-build?

Thanks
Fred

[specialist]

Hi Fred
Once the tenant moves on the claim is covered under loss of rent receivable
so will continue to pay out . It is hard to give an exact time scale as each policy differs. Please not hesitate to contact me specialist@deliteinsurance.co.uk for more help Good luck Neil

[Pete Matthews]

Usual standard 'loss of rental income' refers to what you 'would' have received had you not suffered an insured peril.

There are other rent protection policies available which offer more comprehensive cover if needed.

Try UKinsuranceNET on 08453651264 or visit www.landlords-building-insurance.co.uk

Chris
UKinsuranceNET