Landlord Insurance Malicious Damage - iInsure365

1. LANDLORD INSURANCE MALICIOUS DAMAGE Accidental damage is unintentional What is malicious damage insurance Malicious damage insurance doesn’t usually exist as a cover on its own right. The definition for most insurers is damage caused by somebody on purpose. Some insurers will include malicious damage by tenants and some won’t. You will need to check the wording of your policy and what excess applies. It covers the cost of repairing intentional damages. It usually occurs suddenly and includes physical damage and/or loss of function. Examples could be a ball kicked through a window or someone falling through the ceiling in the attic. Deliberate property damage is every landlord’s worst nightmare. The repairs or replacement of the broken items such as furniture and fittings could run into the hundreds or thousands. difference between accidental and malicious damage tenants have left and destroyed my property All incidents of malicious damage should be reported to the police. Providing you with a crime reference number. You will need this for your insurance company before you do anything else. The next step would be to report the incident to your Insurance Company or broker who will tell you what to do next. Take photographs as soon as possible to document the damage and make sure that they are date stamped. Unexpected or sudden damage such as tenants spilling a glass of wine on the carpet would fall under accidental damage. But, incidents happening through anger or spite are malicious. For example, fixtures and fittings being ripped out or removed. Extreme cases of malicious damage may warrant reporting to the police. Any claim would be subject to meeting the terms and conditions of your policy. Reduce the risk of housing nightmare tenants Before any tenancy agreement, it would be wise to consider what you need from your tenants and your letting agent. Whilst it may be satisfactory to get references it is now illegal to give any one person a bad reference. It would thus be much more important to get some form of guarantor for your tenants to ensure that you always have somebody to speak to. If there is a problem and/or revert back to and be responsible for in the event that there is an issue. This is becoming more standard across the letting industry. Most tenants are able to provide this. IINSURE365 FOR COMPETITIVE LANDLORD INSURANCE CALL US NOW01273 827090 Registered address: 169 Hangleton Way, Hove, East Sussex, BN3 8EY. visit: https://iinsure365.co.uk/