Interesting Article published by the RLA from Hamilton Fraser Insurance Brokers
Really Interesting findings & stats from insurance broker Hamilton Fraser regarding property claims. The RLA released this document called the A-Z of property claims recently and this guide sets out to cover almost every possible claim type a landlord might need to make and what they need to ensure they are covered for in their landlord insurance.
Listed alphabetically, each claim section will explain:
• What the claim type is
• The most likely causes of the claim being made
• Steps you can take to prevent the incident occurring
• What to do in the event of the incident
• How to mitigate damage after the incident
• Top tips to avoid having to make a claim
• What to look for in your policy to see if you are covered
• What isn’t covered under each claim type
Having read the document, it's a stark reminder that most insurance claims can be avoided by doing regular maintenance to your properties and by keeping up regular property inspections.
Our property management system allows for all tenants to log any issues directly onto our system (via a PC or phone app) which flags up anytime there's a maintenance issue. It is written into our house rules that as soon as there is an issue they must report it straight away, which means that we often can fix a problem before it gets out of control (for example leaks, roof issues etc.)
The article is too big to attach to my blog post but if you'd like a PDF copy, just get in touch via reply to this email or you can email my PA (Sarah) on pa@mikefrisby.co.uk
