How to speed up a landlord insurance claim
Promoted by Allianz
You’ve protected your property with landlord insurance, and now you need to make a claim. Your insurance claim will take time to process. However, there are steps you can take to reach a result more quickly. Here are some tips to help speed up your landlord insurance claim.
On the Day
Taking action on the day an insured incident occurs can significantly speed up a landlord insurance claim.
Call the Police
If you have been the victim of theft, tenant theft, or malicious damage, you must contact the police as soon as possible. This is a requirement of most insurance providers. You should inform the police of any property that is missing or damaged.
Prevent Further Damage
Take all reasonable steps to prevent further damage or loss. Depending on the nature of your claim this can involve anything from removing dangerous debris near your property, to starting the search for new tenants.
Take Pictures
If your landlord insurance claim is for visible damage, such as that from fire, storm, or malicious tenant activity, take pictures of the damage wherever possible.
Contact Your Insurer
Get in touch with your insurer as soon as you can. Let them know what has happened, and provide as much information as possible. This will get the process underway, even if you’re not yet sure of the full extent of the damage. Your insurer will be able to give you information on the best way to submit your claim, including exactly what documents and evidence are required for the claim you are intending to bring.
Keep All Evidence of Loss or Damage
Collect documentation and pictures as often as possible. Do not authorise any repairs or replacements, other than those required to prevent further damage, without the permission of your insurance company, as this may affect your claim.
Working Through Your Claim
Being prompt and cooperative, and keeping great records, can help to speed up your claim during the processing stage.
Provide As Much Information As Possible
Depending on your claim, you will need to provide different information to your insurer. However to speed your claim along it is better to be on the safe side, and provide what information you can as soon as possible. Landlord claims commonly require documents such as:
- A copy of the current lease and proof of any bond held
- Notices provided by tenants
- Agent confirmation that you are actively searching to acquire new tenants
- Quotes for replacement or repair
- Original receipts, or proof of ownership of damaged items
- Any receipts, invoices, or quotes of work that took place to prevent further damage
Work With Your Insurance Provider
During the claim process, your insurance provider may contact you for extra information, or ask you to take certain actions. To avoid this dragging out your claim, it is important to be responsive and cooperative. The sooner you act on these reasonable requests , the sooner your insurer can process your claim.
Remain in Touch With Your Insurer to Assist with Future Claims
Keeping your insurer up to date will help you to speed up any future claims. Make sure you inform your insurer of:
- Any new tenants taking up residence in your property
- Changes to rent, which will affect your loss if rental income ceases
- Increases to the rebuild value or contents
- Building works or refurbishments
The first step to the best claim experience possible is making sure you are properly protected. Contact a landlord insurance expert to get a better understanding of your insurance needs and which policy is right for you.
